According to a recent Thomson Reuters Survey, financial institutions on average spend £40m a year on compliance, with some spending up to £300M annually on compliance and customer due diligence. In an environment of constant regulatory change, and as the cost of compliance continues to rise, RegTech data aggregators offer a cost-effective compliance tool with improved customer experience and automated data-analysis.
https://www.klgates.com/RegTech-as-a-Competitive-Advantage-05-25-2017