Bracing for a RegTech Boom
With an unenviable raft of new regulation imminently coming into force, market participants anticipate a flurry of adoption of compliance-related technology, which is expected to prove lucrative for RegTech providers. Joanna Wright and Max Bowie talk to some of the key players about the drivers behind this trend, and RegTech’s potential over the long term.
The main reason for the sudden growth in RegTech is the pending raft of new regulations—not least the long-awaited and already-delayed second generation of the Markets In Financial Instruments Directive (MiFID II) in Europe—and what appears to be general unpreparedness at many firms, who are now scrambling to implement solutions within much tighter timeframes, and are increasingly turning to solutions providers to ensure they have systems in place before the deadlines for compliance.
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