Isn't RegTech meant to help banks comply with increasing regulations? Who else needs RegTech?
The institutional market participants feel the pressure and most of them started to apply Environmental, Social and Governance (ESG) criteria to their selection process. A typical data-driven task which can be ideal to digital leaders such as robo-advisors.
This industry, is expected to manage ten percent of the world's assets under management by 2020, but experts believe this figure will be heavily surpassed once a dominant player enters the robo-advisory arena.
Building digital identity schemes for the 21st century is such a vital endeavor, and a central piece for the financial services industry in general, and RegTech in particular
InsurTech firms may focus on the niche, cost conscious market, allowing traditional insurers to serve less price sensitive, convenience seeking customers.
Celent’s consensus is that there are 600-800 InsurTech start-ups globally focusing on four main themes
What if firms could change their attitudes and turn their regulatory requirements into business opportunities?
Wealth management in a broader sense includes other aspects that are as relevant as the pure investment returns.
A definition of InsurTech should cover different concepts that goes well beyond the idea of combining insurance and technology to include the social role of insurance
RegTech will change the entire value chain, from regulators and the political system, to compliance and regulatory advisers, auditors, regulated entities.