RegTech
Regulatory Technology
Definition
Technology solutions that help financial institutions meet regulatory requirements more efficiently and effectively. RegTech encompasses a broad range of applications including automated compliance monitoring, regulatory reporting, identity verification, transaction surveillance, and risk management using technologies such as AI, machine learning, and cloud computing.
Regulatory Context
The RegTech market has grown significantly as regulatory complexity and compliance costs have increased. Regulators including the FCA, MAS, and HKMA have actively encouraged RegTech adoption through sandboxes and innovation initiatives.