“We see 2018 as a pivotal year for Regtech”
Accenture forecasts increasing investment in Regtech solutions, building on several years of rapid growth. Nimble, fast moving startups will likely continue to face hurdles in working with slower-moving banks but the path will likely get easier as investments in open, API-based technologies start to pay off.
They also argue that regulators will increasingly update and revisit rules with an eye to take advantage of new technologies. Regulators like FINRA have explicitly referenced RegTech in their priorities. Similarly, while speaking at the Singapore Fintech Festival last year, J. Christopher Giancarlo, Chairman of the U.S. CFTC noted, “RegTech poses significant opportunities for those involved in our financial markets, both participants and regulators. I suspect we are in the “early innings” of this space …, but believe that it is imperative for all involved stakeholders to do their part in understanding emerging technologies and think creatively about incorporating such technologies.”
Read the full blog post: The Growing Need for Regtech