Risk & regulation

RegTech has a customer focus

Regulatory Technology * -RegTech- helps financial institutions to increase their confidence, to improve the user-friendliness and speed of action for customers and employees and to reduce costs. Confidence, convenience and low costs are the preconditions for every financial institution to stay relevant.

RegTech is hot

RegTech can also help to detect risks earlier, ensuring greater flexibility and agile, freeing up compliance capacity and talent. In the past the financial institutions saw regulations as a barrier to innovate data storage, privacy regulations and digital identity verification. Today they realise that RegTech can offer a great competitive advantage. That’s why RegTech is hot.

RegTech can also be a response to increasing demand for data on the part of regulatory bodies. Consider in this regard AQR, stress tests, BCBS239 and AnaCredit.  And RegTech can contribute to efforts from regulatory bodies to improve monitoring tools, enabling more granular, predictive and therefore more effective monitoring, internally and externally.

loading-player

Playback of this video is not currently available

Wondering how we can help you with your RegTech solutions? PwC can help you with:

  • Minimizing the costs entailed by compliance (and non-compliance).
  • Addressing obsolete legacy IT systems.
  • The need for technological innovation.

 

Contact us

Eugénie Krijnsen
Banking Leader
Tel: +31 (0)88 792 36 98
Email

Anthony Kruizinga
Partner
Tel: +31 (0)88 792 65 43
Email

Follow us