Some of the biggest challenges for companies are that many of their compliance departments are fighting off an onslaught of different regulations coming down the line. There are also a lot of technology advancements, so things such as artificial intelligence (AI), blockchain, and machine learning, are starting to create challenges. Even though the technologies are not yet regulated, they soon will be and people need to get their heads around that.
What you’ll start seeing is a new super breed of compliance offices that need to not only understand the technology and the regulations but how they can interact together. That’s one of the key challenges RegTech can help organizations solve. Hitachi Vantara uses RegTech to help organizations bridge the gap between technology and the line of business, bringing both together.