How Can RegTechs Help Financial Services Industry Overcome the Burden of Compliance?
Source: Let's Talk Payments
Traditionally, dealing with regulations is a costly and a cumbersome affair. Regulatory documents are 100-plus pages long which aren’t clearly legible. Furthermore, references to multiple documents including previous versions of legislations make them difficult to comprehend. The London-based HSBC bank spent $2.2 billion on regulation and compliance in the first nine months of 2015, up 33% year on year.