Meta description preview:By FINTECH Books Contributor, Nirvana Farhadi Follow: @NirvanaFarhadi

Data portability under the GDPR is intended to drive competition.The FCA see dashboards as a way to help make financial advice available to the mass market.

Relying on relatively old asset allocation methodologies and a limited type of products, there are clear benefits by having extended the range of clients.

Such controls include the requirement that banks should be able to identify all the spreadsheets used in critical processes and ensure that all data and calculations used in such processes are adequately policed by internal compliance departments.

Home insurance hasn’t adapted to the era of Airbnb and car insurance is even more hopeless when it comes to Uber and the sharing economy.

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.