Spurred by increasingly costly instances of non-compliance, breaches and fraud, a host of startups are seeking to transform the way corporations and law firms manage compliance issues. As the new technology gains a foothold in industry – and increasing financial backing – firms and legal departments need to understand the opportunities and potential pitfalls associated with RegTech.
What is RegTech?Regulation technology, or RegTech, is a branch of Fintech focusing on improving compliance and internal control systems. These solutions are designed to automate risk management processes, assist regulatory reporting, prevent fraud and enable organizations to stay informed of regulatory changes. ...
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