What happened?
Amid intensifying regulatory scrutiny and the digitisation demands accelerated by the pandemic, RegTech has transitioned from a novel luxury into an essential tool for compliance departments across financial services.
Speaking to Financier Worldwide, TCC and Recordsure Group CEO Joe Norburn highlights the daily role of RegTech and explores how proactive businesses can capitalise on digital compliance tools to drive operational efficiencies.
Why does it matter?
Modern regulators demand granular, data-driven evidence of compliant customer outcomes. Traditional manual sampling is no longer sufficient to monitor thousands of complex digital customer interactions. Deploying advanced RegTech tools allows firms to gain complete oversight of conduct risks while reducing compliance costs.
Supporting sources
Frequently asked questions
Why has RegTech become essential for modern compliance?
RegTech has become critical due to rapid digitisation and the regulator’s data-led approach, which require automated tools to monitor customer interactions at scale.
What advantages does RegTech offer over manual compliance?
RegTech automates data collection and compliance analysis, allowing 100% coverage of customer files, early risk detection, and more accurate management information.
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