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RT : RT : The clock is ticking⏰ 00:05 ... Time for 🧠 visualisation makes smarter💥 Award🏆 on

"Banks that don’t start taking concrete steps to bring new tech platforms into their offerings will increasingly find it more difficult to catch up." The biggest hurdle to financial institution future-proofing:

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The Benefit Of RegTech: Trust Building

Smith believes regtech companies like hers provide a less trumpeted but equally important benefit to the industry: trust-building.

“Customer expectation is growing in reaction to what has gone on in the past. People are going to expect far more transparency in their financial dealings with companies. There will come a point where people will expect to have a copy of the conversation they’ve had, and we can do that.”

The pace of change and the bewildering amount of regulation globally is only going to increase. There are 90 regulators worldwide issuing more and more rules, presenting businesses with new challenges on a regular basis.

“The regulatory landscape is changing all the time,” says Anderson. “In the US it’s slowing down, here we’ve just had GDPR, then there’s a lot of complexity on a geopolitical level, and around the corner with Brexit. If you look at a major bank that’s trading in the UK and the EU, there’s a presumed layer of complexity that we might need to adhere to dual or parallel regulation.”

This all ensures the demand for the kind of solutions regtechs offer is not going to diminish. In short, this isn’t the last you’ve heard of the regtech boom.

Podcast on “regulation technology”

Technology is impacting every aspect of the legal profession. Arguably, this is most significant in the area of “regulation technology” which is revolutionising the way that law firms manage their risks, and their clients and matters.

Richard Mitry appeared in a Podcast released this week by Lawyers Weekly, alongside Brendan Smart (CEO of Leap), John Ahern (CEO of Infotrack) and James Ryan (Spiers Ryan), discussing this technology and how it is changing the ball game.

Here is a link to the Podcast:

Webhelp Aquires GreenPoint for KYC.

Leading global customer experience and BPO company, Webhelp, has announced the acquisition of top French firm, GreenPoint.

GreenPoint is a pioneer in digital and mobile management of Know Your Customer (KYC), digital processing of customers’ records and customer on-boarding.  The company is experiencing rapid growth as demand for compliant digital and mobile solutions for  customer on-boarding and identification increases in parallel with strengthening regulatory requirements which are being enforced to protect consumers upon subscription to a company or service.

By 2020, European banks will be spending more than one billion euros annually on their KYC management according to the strategy consulting firm Roland Berger. This acquisition further strengthens Webhelp’s ability to service regulated clients and solidifies its regtech BPO offering by creating WebhelpKYC Services (WKS).