Regulatory Technology Can Change the Business Mindset
Posted: Tue Jan 07, 2025 8:53 am
Another advantage that RegTech brings with it and which is closely linked to agility is simplification : after all, one of its main objectives is precisely to reduce any friction that a company may encounter with respect to the application of current regulations .
This objective, moreover, has become particularly pressing in recent years, since adapting one's processes and structures to current regulations - which are becoming increasingly numerous and stringent also in light of globalization and digitalization - is a full-time challenge, which requires players in any sector to consume a very high amount of time and resources (both human and financial).
This simplification often translates into the implementation of solutions that lithuania whatsapp resource support operators, in such a way as to make some steps more fluid and some tasks that may be very long and repetitive faster and more automatic, so as to reduce the risk of human error, but above all to employ the same workers in other tasks with greater added value.
As mentioned, RegTech is an aspect, a facet of FinTech : it is no coincidence that credit institutions and insurance companies are the ones who make use of the technological solutions offered by RegTech, both because they have a particularly stringent compliance system and because they have to manage sensitive and important data and information that require a very high level of attention and security.
This objective, moreover, has become particularly pressing in recent years, since adapting one's processes and structures to current regulations - which are becoming increasingly numerous and stringent also in light of globalization and digitalization - is a full-time challenge, which requires players in any sector to consume a very high amount of time and resources (both human and financial).
This simplification often translates into the implementation of solutions that lithuania whatsapp resource support operators, in such a way as to make some steps more fluid and some tasks that may be very long and repetitive faster and more automatic, so as to reduce the risk of human error, but above all to employ the same workers in other tasks with greater added value.
As mentioned, RegTech is an aspect, a facet of FinTech : it is no coincidence that credit institutions and insurance companies are the ones who make use of the technological solutions offered by RegTech, both because they have a particularly stringent compliance system and because they have to manage sensitive and important data and information that require a very high level of attention and security.