By FINTECH Books Contributor, Ryan Barnes Follow: @FundApps “Volume and pace of regulatory change” is the number one challenge faced by financial institutions, and the stakes have never been higher. International legislation needs to be obtained, translated, interpreted, coded into software and tested: a repeating process often stretching the capabilities of even the most profitable financial firms. Modern finance involves regulation from dozens of jurisdictions around the world– each with their own limits, deadlines, and intricacies. Regulators are imposing sanctions more often than ever and compliance teams have never been under so much pressure, which begs the question:How can financial institutions maintain compliance in the face of globally changing regulation? With MiFID II looming, and uncertainty over regulatory change in the USA, there will be enormous pressure on financial institutions to adapt to new legislation quickly and efficiently. RegTech is, and will remain, pivotal in achieving this.This section will focus on how RegTech is reducing compliance lag and increasing efficiency while reducing costs for financial institutions, providing them with ways to adapt to legislative change in near real-time. It will detail ways in which financial institutions can (and should) use RegTech to meet regulatory obligations from around the globe, and highlight lessons the wider financial industry can learn from with case studies and examples of best practise. We will examine cases where the use of RegTech to manage regulatory change could have avoided financial or reputational damage, and consider the common “Build vs Buy” conundrum that many financial companies face when considering a RegTech service or solution. RegTech can overhaul compliance capability and turn a liability into a strength. This sub-chapter explains what that process looks like, and how that outcome can be achieved by any forward-thinking financial institution. If you would like to learn more about FinTech please look at our video courses at FINTECHCircleInstitute.com