June 6, 2018

How European Banks Are Using RegTech Solutions

Large US and European banks are spending $20 billion a year on technology to help them comply with newly evolving regulations such as MiFID and PSD2. With regulatory environments becoming increasingly complex, 300+ million pages of regulatory documents will be published by 2020 & 600+ legislative initiatives need to be cataloged by a medium-sized, sell-side institution to have a holistic view of their rulebook – the silos of data generated by various business functions lead to significant resource expenditures on data collection, organization, and analysis. Moreover, between 2008 and 2016, there has been a 500% increase in regulatory changes in developed markets, which has led to 10-15% of the total workforce of FIs working under compliance functions. Source: Growing Regulatory Complexities – RegTech to the Rescue Meanwhile, an end-to-end RegTech implementation promises 634% in ROI realizable over a three-year period, which is why a range of financial institutions in Europe…

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