The regulatory system under which the financial system operates is exceedingly complex. This is understandable given mow important finance is...
There has been a growing trend in compliance technology the last few years with regtech hackathons or as the UK...
Cybercrime is a growing problem with ID theft hitting a record high in 2016 affecting 15.4 million people; Credit card fraud resulted in $21.84 billion in losses across the world; synthetic identities are a top risk for the banking industry and banks need next-generation KYC tools to protect themselves. Source
The FT has seen regtech as one of the fastest growing areas of fintech with a surge of applications to their Future of Fintech awards; new regulations such as the EU’s Mifid II rules, increased compliance and KYC checks by financial institutions looking for more cost efficient ways to verify customers has helped to bring new startups into the market; fintech has moved well beyond lending and the diversification of the market continues to grow. Source.
Cloud Lending Solutions provides digital technology platform services for origination, underwriting, servicing and collections; in their featured blog post they provide insights on the use of regtech for online lending platforms; utilizing regtech solutions can significantly help internal controls, business processes and cost structures for online lenders while also helping to improve the overall borrower experience. Sponsored Blog Post
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