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The REGTECH Book
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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

Using RegTech as a Cross-Industry Digitization Tool

By Peter Lancos1 and Sonal Rattan2

1Co-Founder and CEO, Exate Technology

2Co-Founder and CTO, Exate Technology

RegTech has traditionally been defined as a subset of FinTech. This is primarily as a result of the abundance of regulation that has been applied to the finance, and specifically the banking, sector. Given the advent of new privacy-based regulations such as the EU General Data Protection Regulation (GDPR), the EU e-Privacy Directive (to become a regulation), and the Privacy Shield in the United States (which is being reviewed by the Trump administration), the scope of RegTech has been expanded to include all industries that process personally identifiable information (PII). Examples of industries that process large quantities of PII include the recruitment Industry, third-party service providers (such as software as a service [SaaS] providers), and the automotive industry. Whereas the financial Industry has extensive experience in dealing with regulatory change (Markets in Financial Instruments Directive [MiFID], Dodd-Frank Act, Volcker Rule, Market Abuse Regulation [MAR], second Markets in Financial Instruments Directive [MiFID II], and so on), other industries have not previously been subject to these requirements. The requirement to digitize in the finance industry in order to deal with regulatory change, customer expectations, and an evolving technology landscape may need to be applied to other industries as they ...

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Publisher Resources

ISBN: 9781119362142Purchase book