Innovation is rather developed outside of established players in the financial markets, by startups for which the regulators seem rather indecisive on how to approach them.
Perhaps what is needed is not more regulation, but a standardised and simplified application across the sector, supported by automation through software.
Change is hard. As human beings, we get comfortable and feel secure, so when things change, it can be unsettling to say the least. Specifically, the asset management industry is going through a period of rapid digital transformation and change.
“RegTech” is a massive opportunity to create a vibrant surrounding ecosystem at scale while increasing productivity, lowering transaction cost and improving operational resilience.
Digitalization and fiduciary movements are both trending at the exact same time within the wealth advice space, creating new technology requirements and opportunities.
Being smart is getting tougher with time. Data is becoming increasingly cheap, open and accessible. Making the data work not only for its narrow purpose, but for the purpose of understanding the business.
A smarter approach to inherently build trust framework in every element of finance could make regulation invisible but omnipresent.
The next wave in WealthTech will be defined by five major trends with more 'financial smartness' and 'financial creativity' in the WealthTech arena.
Is it possible to effectively apply the blockchain technology to support in a cost-effective way any compliance aspect on the personal data protection field? The presented use case shows a possible solution for solving the issue with management of consents to use personal data.
I am sure you can imagine a world where insurance is far simpler to both buy or to claim - it is almost upon us since there are already a growing number of InsurTECH companies where this is exactly what they’ve set out to do.