The nature of regulation is changing in the sense that regulation now needs to be solved for technology and its advancements. Much of the regulation was written many years ago and didn’t take into account all the changes we’re seeing today. Before regulators come up with new practices and write new policies, it would be beneficial to test them with the technology first, which would solve many of the issues.
Check back for more vlogs around RegTech and why it’s important for the financial services industry in our 5-part vlog series.