Reaching out for regtech

Sandra Lawrence, Executive Director of Collas Crill Compliance, is quoted in the latest edition of BL Global magazine in a feature about regtech.

Regtech is the technology which is aimed at streamlining and improving regulatory processes. The article looks at the many arguments for embracing regtech against the backdrop of concern about the unknown and the reliance on processes that have often been around for decades, which cause some of the main barriers to change.

'There can be a big fear of the unknown around new technology. Firms have to really consider the key advantages of using regtech – how much time it could save on current processes in the long term, for example, and how it could benefit the organisation financially.

'Businesses should treat it like any other system. Data protection and cyber security are vital, so organisations need to make sure these kinds of risks have been identified and mitigated early on – and are reviewed internally on an ongoing basis.'

Read the full article here.