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Despite growth in regtech adoption, widespread manual processes still leave many firms exposed...
Regtech Realities: Moving from Reactive to Proactive Compliance explores the evolving needs of financial services firms in the face of continued regulatory changes. The report assesses the strategic direction and practicalities of compliance, including workflow and resource challenges and how firms prioritize investment in automation.
Key Whitepaper Findings
- Investment in regulatory technology (regtech) is set to rise further over the next 12 months: 45% have increased investment in dedicated vendor technology for compliance, with a particular focus on cloud-deployed systems.
- 53% have invested in central platforms for compliance documentation tracking and a further 13% are considering introducing such a platform in the next 12 months.
- Only 4% feel they have an entirely strategic approach to regulatory reform and only 2% have fully automated compliance support, leaving firms open to risk from manual processes.