IDG Contributor Network: How RegTech closes the gap between technology and financial services

Over the last few years, the market has seen the volume of investments in FinTech companies increase significantly from 3 billion dollars to more than 40 billion dollars in 2015, and that is quite easy to understand why. FinTech has taken over the world and is everywhere these days, besides having completely disrupted all financial services industries involved with wealth management, payments, financing, insurance, banking and even customer service.

As the market becomes more used to the term, and FinTech becomes more accessible and easy to understand (and use) as it evolves, it won’t be something strange to people as it is today, just as credit cards were when they first came out. The market should not expect the FinTech revolution to slow down any time soon, and that has brought an issue for the companies that are now working with FinTech: regulations. The increasing levels of regulation and the growing challenging regulatory expectations are having operational impacts throughout companies, requiring people, process and technology-based solutions.

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Source: http://www.cio.com

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