From the course: Introduction to Fintech

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RegTech

RegTech

From the course: Introduction to Fintech

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RegTech

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- [Instructor] On the other side of the coin, we have an area of FinTech which specializes in helping financial services companies meet their regulatory requirements. These companies are called RegTech firms, short for regulatory technology. And in the recent years after the global financial crisis, we've seen the financial services industry subject to a growing number of regulations aimed at improving the stability and the security of the overall financial system. RegTech companies provide solutions to help these businesses comply with financial regulations, reduce operational risks, and improve the efficiency and accuracy of the reporting that they need to provide to their regulators. It's important to make the distinction that when we talk about RegTech, we're not talking about the regulators themselves, but rather, third parties that use technology and software to help banks, financial institutions, and other companies stay compliant with regulations or to maintain best practices.…

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