If much of the regulation immediately following the financial crisis was about shoring up balance sheets, the latest wave of regulation is all about transparency. These transparency requirements extend right across the value chain of a business from on-boarding right through to sales, transaction monitoring, fraud identification and compliance reporting. The requirements of MiFID II are a key example of this.
When financial penalties and potentially jail time for individuals are on the line, the effectiveness of sophisticated analysis, testing and reporting are all critical to maintain an effective control environment.
Our financial services and regulation experts discuss how RegTech can help make financial markets more effective.