Regulatory Technology (RegTech) is an emerging platform that combines regulations with technology to facilitate compliance with increasingly complex regulations in various industries, especially banking, finance, communication, and energy.

RegTech Is The Regulatory Spinoff of Fintech

RegTech and FinTech are two closely related fields that are often mentioned together in the financial industry. While they share some similarities, there are also key differences between the two.

RegTech: RegTech is primarily focused on regulatory compliance and uses technology to automate and streamline regulatory processes. It is aimed at helping financial institutions comply with complex regulatory requirements and reducing the costs associated with compliance. RegTech solutions include automated reporting, risk management, and identity verification.

FinTech: FinTech, on the other hand, is focused on providing innovative financial services and products through the use of technology. FinTech is aimed at disrupting traditional financial services and making them more accessible, affordable, and convenient for consumers. FinTech solutions include mobile banking, peer-to-peer lending, robo-advisors, and digital currencies.