1 February 2017
The Rise of Regtech… and the Impact on Compliance
By Toby Bryans
Toby Bryans, Principal Consultant at DataArt’s Finance Practice, contributes an article to Corporate Compliance Insights, where he explores the role of agile regulatory technology in reducing the firms’ compliance burden and in helping executives better understand and manage risks.
“Many compliance problems are solved by RegTech: reporting, market-abuse monitoring, anti-money laundering, know your customer and call and chat monitoring. It manages to do this effectively and efficiently by using modern techniques and technologies such as big data, data visualization, distributed and immutable ledgers, machine learning, semantic analysis and natural language processing.
The rise of RegTech (regulatory technology) allows funds to refocus again on their core mission and help provide far better and more efficient data management, giving firms that all-important ability to have a single view of their risk position and providing management with a high-level view on their fund’s performance across all positions.
RegTech is agile and fast, allowing cluttered and intertwined data sets to be organised and managed while new inputs, functionality and reports can be built and configured quickly. It can be quickly integrated with current infrastructure and the integrated data gives much better analytics – be they risk, compliance or management – than legacy solutions were able to.”