RegTech, sister of FinTech, provides regulatory monitoring, ensuring the compliance of products across multiple industries. For more detail, click the video below:
The 2008 financial disaster spurred an increase in regulation in the finance and banking industries. As a response, companies began to allocate resources to remain in compliance. To address growing concerns, these companies began turning to RegTech. RegTech, sister of FinTech, leverages new technologies to address regulatory pain points. Technology that works in the finance industry can also be applied in FMCG.