Leveraging fintech collaboration: How banks can exploit the power of regtech
The need for financial institutions to tap into new solutions to ease regulatory compliance has never been greater. The burden of regulation increases all the time. At the same time, regulation is changing the banking landscape, forcing a new openness based on open APIs, and creating new opportunities for financial services firms while at the same time further complicating compliance responsibilities.
Overall, in a more competitive landscape, and given downward pressure on RoE, financial institutions can ill afford to miss out on the opportunity to reduce the cost and improve the efficiency of their regulatory compliance activities.