RegTech 2017 Supplier Performance

The complexity of the task facing these practitioners in understanding and interpreting the volume, variety and velocity of regulation and capturing this knowledge cumulatively and systematically is nothing short of daunting.

As MyComplianceIQ points out 'ignorance is no longer bliss.  In fact, it just became a criminal offence'.  And, no matter how much an organisation invests in technology to address areas of its financial crime framework, it will always be the presence of employees who really understand the subject matter that will make the difference between a control that is effective and one that is not.

A significant hurdle for compliance teams is how they justify the investment spend in new technology to senior management and prove to their seniors that the cost / benefit equation will actually work.

Furthermore, given the maturity of these solutions, how do they assess start up viability or where and how to adopt the RegTech within the organisation?  Luckily, RegTech companies are being embraced by regulators, central banks, governments and financial institutions.  We are seeing some positive support and initiatives being introduced by regulators and financial institutions in the form of 'proving grounds'.  They are allowing RegTech's to undergo a test in real-world conditions.  So, there is no lack of desire to a change to a digitised world, despite clunky legacy systems and infrastructures often delaying, but not preventing, the inevitable change.

About the report
The report continues its quest to unveil what solutions are gaining market traction and where in the world, what types of institutions are deploying them and why, plus scope of solutions and areas of compliance addressed.  The report provides regulatory technology buyers with the required performance data on RegTech solution providers in order to make an informed decision.

Identifying the right players is a first natural step for many organisations when making a major purchase decision. And up until now, there has been no resource that accomplishes this in any factual way.  In addition, many of these regtech solution providers are privately held, and privately held companies aren't required to report their revenue publicly and revenue is not broken down by product.
You can purchase the report here.