Burdensome regulation makes for burgeoning regtech

Author: Jimmie Franklin | Published: 11 Oct 2019

Since the 2008 financial crisis, IFLR has relentlessly reported on the never-ending spiral of regulatory changes that readers have encountered, from Mifid II to the Volcker Rule to the General Data Protection Regulation. There’s also been the scandals that have come with anti-money laundering (AML), affecting banks spanning from Australia to Sweden, showing that no matter the society, no market has yet come up with a winning solution to tackle the problem.

Regardless, new regulations have created new opportunities – for some.

"We are currently experiencing the vanguard of regtech with the heightened risks of AML and terrorist financing being one of the key issues that it can tackle," said Charles Delingpole, founder and CEO at consultancy ComplyAdvantage. "By far the biggest team in a financial setting is compliance and by using regtech, this can increase efficiency and reduce personnel needed."

Regtech is defined by the undertaking of regulatory processes...