Source: The Fintech Times
By Tom Bleach
The regtech space is in for a major shake-up, with the FCA‘s new Consumer Duty regulations coming into effect in two months. This presents an opportunity for financial institutions to adopt a new approach to compliance and regulation. Throughout May, we’ll be examining the past and present states of regtech and compliance, highlighting lessons learned that will shape the future of the sector.
Earlier this week, The Fintech Times explored the latest standards and developments in regtech and the impact they have had. We now turn our attention to how the regtech space will continue to develop over 2023.
To help understand and explain exactly where the space is, and how it may, or may not, develop during the remainder of the year, we reached out to industry experts for their input.
‘Help banks and fintechs save time and money’
Robert Blaszczyk, head of strategic clients department at currency exchange fintech Conotoxia, explained which sectors regtech will continue to best support in 2023:
“Although regtech has a short history, it probably has significant potential and growth prospects. It is expanding with the increasingly widespread digitalisation of services (including financial services), the popularity of online transactions and growing competition in this market. According to standards applicable as early as 2021-2022, regtech is able to adapt regulations and…
Read full article: https://thefintechtimes.com/regtech-in-2023-with-contoxia-eix-regnosys-kyckr-rise-by-barclays-and-kyc-hub/
