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The REGTECH Book
book

The REGTECH Book

by Janos Barberis, Douglas W. Arner, Ross P. Buckley
August 2019
Intermediate to advanced content levelIntermediate to advanced
392 pages
14h 11m
English
Wiley
Content preview from The REGTECH Book

Discover the Innovative Technology Behind RegTech Leaders

By Pierre Bittner

CEO, WeeFin

Nowadays, banking regulations have become so complex that it is no longer possible to implement them by using existing tools or methods. The granularity of reported data, the increase of frequency, and the completeness of information leave no part of the organization untouched.

Those new regulations, as seen by authorities, are one of the pillars of good economic health because they help to restore confidence in the monetary system. However, their representatives understand that the complexity is a real challenge for banks. The smaller actors or those who have retained practices based on manual processes could not conform to the requirements of granularity, risk aggregation, or traceability.

The ongoing digitization of the sector, accelerated by the arrival of FinTech, is another pillar of the return of growth, as it will improve customer relationships and create new opportunities.

Banks must start to change their strategy and their culture and base them on collaboration amongst actors. They need to shift from project- and product-based organization to agile organization that delivers digital services and customer experience. However, without introducing major innovations to support this transformation, many players, limited by their investment capacity, will not be able to come through this period.

Many new technologies have been created by ‘digital native’ companies to build a huge market ...

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Publisher Resources

ISBN: 9781119362142Purchase book