|Two years ago, regtech solutions seemed to be the answer to financial institutions’ compliance issues, and regtech solutions providers began gaining support from regulators and investors. Despite the initial hype, however, many companies that offer these solutions haven’t scaled as much as expected. |
This is likely to resolve in the coming months as these companies and their offerings evolve. Some factors that will drive this change are regulatory support of these solutions, and consultancies offering more help to institutions.
A report from Business Insider states that financial institutions are expected to use RegTech solutions more actively in 2020. Global regulators are expected to adopt RegTech solutions themselves, and to act as advocates for the industry.
The full report examines what the future of the RegTech industry will look like through 2020. See the report here.