Do you still have doubts about implementing RegTech solution in your financial institutions? Probably you should read this to learn how other institutions have faced penalties and the challenges due to non-compliance over regulatory requirements. Also, download this infographic to learn about the emerging technologies of RegTech and its potential benefits. Download more Infographics Here https://www.sensiple.com/infographics/regtech-on-the-rise

1. Streamline complex end-to-end regulatory processes through process automation and help financial
firms to comply with one or more regulatory authorities through Automated Regulatory Process,
Regulatory Reporting and Monitoring, RegTech enables investor protection.
What it does?
What is RegTech?
Emerging Technologies of RegTech
embraced by Financial Firms
Potential Benefits of RegTech
Track real-time risks and deter non-compliant behavior
Increased regulatory compliance efficiency
Increased revenue with high customer retention
Identifying the frauds and predicting anomaly behavior
Faster Adaptation to the new regulatory requirement
Improved data collection and data analytics process
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Source: FT, KPMG, TCS, Bloomberg
49%
Developing data strategy to
link technology, workflow and
compliance requirements.
37%
Identifying technology
that delivers as expected
32%
30% 30%
Having accurate and
up-to-date data
Cybersecurity Concerns Hiring and training
27%
Inadequate budget
22% 17%
Complying with data
privacy regulations
Source: Duff and Phelps
Standardizing the data
across jurisdictions or products
Evolution of RegTech
RegTech 1.0
Introduction of new
technologies to monitor and
analyze risk of specific
regulations or processes.
These formed into a portion
of the quantitative risk
management & rehearses
that we're acquainted with
today. (1990-2000)
RegTech 2.0
Post 2000s, devices have
helped organizations to be
consent to rules and improve
their supervision exercises.
Most RegTech applications
have concentrated on 'know
your client' (KYC) by
improving purchaser security
and testing bad practices
(2000-2020)
RegTech 3.0
The future of RegTech is all
about shifting gear from
digitization of money to
monetization of data. The
data will influence the
informed decisions and
primarily the focus will shift
to security and the privacy of
the data.
Business Process
Modeling Tools
Robotic Process
Automation
Machine
Learning
Business Decision
Modeling Tools
Cognitive
Analytics
Big Data &
Analytics
Cloud
Computing
40%
24%
38%
29%
19%
48%
25%
Cost of Compliance
The Biggest challenge
in adopting RegTech
$270 Billion
is being spent annually by
Financial institutions
300+ Million
pages of regulatory documents
will be published by 2020
750
global regulatory bodies
send an average
of 200 alerts daily
>$300 Billion
Fines are being paid by
banks since 2008
1
2
6
5
10-15%
of financial institutions’
staffs to work on governance,
risk management and
compliance
4
$10.6 Billion
Regulatory spending
by 2022 would jump
to $76bn from $10.6bn
3
ON THE RISE