RegTech

Regulatory technology, is a new technology that uses information technology to enhance regulatory processes. With its main application in the Financial sector, it is expanding into any regulated business with a particular appeal for the Consumer Goods Industry. Often regarded as a subcategory under FinTech, RegTech puts a particular emphasis on regulatory monitoring, reporting and compliance and is thus benefiting the finance industry.

Harriet Christie Chief Operating Officer at Mirrorweb

Financial Services’ Inconvenient Need for WhatsApp Archiving

In September 2022, the Securities Exchange Commission (SEC) and Commodity Futures Trading Commission (CTFC) reached settlements totalling around $1.8 billion with 12 of Wall Street’s leading investment banks. The prominent institutions, which included Morgan Stanley, Citigroup, Goldman Sachs and Bank of America, were penalized for failing to monit...

03 January 2023 /regulation /crime

Claus Christensen CEO at Know Your Customer

UBO Identification in Europe: What Happens Now?

Following a seminal ruling from the EU Court of Justice in November, the journey towards greater corporate transparency recently encountered a stumbling block. As further developments remain uncertain, what options are available to compliance teams and members of the public looking to access official beneficial ownership information across jurisdi...

14 December 2022 /regulation /crime

David Vilf Global Product Lead in Digital Identity at Onfido

Top four things to consider when building an eKYC solution

Millions are spent annually on Know Your Customer (KYC) and anti-money laundering (AML) procedures as businesses strive to confirm identities and fight money laundering. The rise of online banking and payments has made due diligence increasingly complex to navigate - so what elements should you consider when building a robust and reliable eKYC sol...

24 November 2022 /regulation /identity

Paul O'Sullivan Chief Executive Officer at Aryza Lending Solutions at Aryza

Why it pays to standardise credit risk processes

Despite regulations being designed to simplify compliance processes and minimise credit risk, the pace of change in the financial services world is so fast that staying on top of these changes can be challenging. The IFRS 9 is one such example. Since it came into force four years ago, we’ve suffered from a global pandemic, the increased use of buy...

02 November 2022 /regulation

Frank Cummings CEO at AML Partners LLC

The Legitimacy Life-Cycle – All Risk Mitigated

The Legitimacy Life-Cycle – All Behavioral Risk Mitigated Lifecycle management has become an AML Compliance buzzword. But it’s often just new wrapping on the same old package. The Legitimacy Lifecycle, in sharp contrast, looks at the lifecycle challenge with a comprehensive emphasis on Risk relevance and Risk mitigation. Unlike other lifecycle-mana...

28 October 2022 /crime

Joost Van Houten Founder & CEO at Sentinels

What are some of the main problems that regulators currently face?

We live in a time of significant financial change; two once-in-a-lifetime recession events have happened in just over a decade, and regulators are trying to get a grip on financial economic crime while not limiting innovation. Unfortunately, rapid digitization due to the pandemic has sent instances of financial crime soaring. Regulators exist to pr...

19 October 2022 /regulation /crime

Catherine Warren Transformation Director at Encompass Corporation

How Will Digital Transformation Impact Corporate KYC?

Digital transformation projects will introduce more automation and digitization into compliance tasks when performing Know Your Customer (KYC) on new corporate customers, but are compliance teams ready for the switch? With so much at stake, including competition from hyper-automated FinTechs, enhancing financial crime compliance, including KYC pro...

17 October 2022 /regulation /crime

Harriet Christie Chief Operating Officer at Mirrorweb

RegTech: Three Increasingly Regulated Industries

Regulatory technology (RegTech) companies perform exactly the function you’d expect; they provide technology which is used by businesses to manage and enhance regulatory processes in order to achieve and prove compliance. It’s a sector which is now growing at a pace of 19.5 percent annually, and is expected to hit $21.73 billion by 2027, according...

14 October 2022 /regulation /cloud

Frank Cummings CEO at AML Partners LLC

Hosted Managed Services for KYC/AML, really?

Hosted Managed Services--A crucial option for institutions striving to maximize RegTech capabilities, focus on core business Custom fit. Tailored. Bespoke. Made to order. If you’ve been tracking trends in RegTech and GRC solutions, you might recognize how those terms describe an innovative new direction: hosted managed services. Prior to the pande...

12 September 2022 /crime

Katie Hunter Senior Marketing Manager at Aveni

5 technologies to help firms comply with Consumer Duty

The Consumer Duty final guidance comes with big requirements for evidence. Firms will need to deploy advanced data-driven technology solutions to meet the regulator’s data-focused demands, ultimately adapting their approach and processes in order to comply. As well as regulatory compliance, applying the right technology has the additional benefit ...

07 September 2022 /regulation