RegTech itself will not prevent the next financial crisis, but using technology will make regulators better regulators.
Technology today with it’s speed, content streaming and cloud storage ability, is facilitating the construction of scalable applications by allowing us to take those front-end and back-end frameworks or ‘lego’ pieces that allow the construction of whatever the mind can imagine.
It's only been in the last 18 months that we've actually agreed on the term 'InsurTech' having had a go with InsTech,and a minor diversion via InsureTech. It's not just the variations on country names that makes us feel like cartographers in the middle ages, but also the large parts of the map that are still blank.
Compliance and risk management have been perceived for too long as fun-free zones. Working with a RegTech solution should be a pleasurable and motivating experience.
As firms like wealthfront.com attract assets in an ever more saturated market, the interesting question is, will they succeed in disrupting the incumbents?
Regtech is the buzz word and solution to solve real life industry problems in the world of finance. So, what is Regtech and why is it important in this digital transformation?
Insurtech is disrupting the entire value chain and customer life cycle. ‘I want it now’ culture, increasing consumers’ needs, high competition and changing regulations force incumbents to change. Disruptive technologies offer the opportunities to redesign customer experience
Wealth Management-as-a-platform: the new business architecture, particular resources should be allocated to shaping the firm’s culture around agility and the number of potential business partners on cybersecurity
Insurers are utilizing that same data to leverage gamification, or more specifically, behavior-modification gamification
In 2016, with the foundation of FinTech Istanbul, an independent organisation supported by Interbank Card Center of Turkey, the Turkish FinTech ecosystem has started to develop and receive attention internationally.