Top Trends in RegTech – Shaping Financial Services With Regulatory Technology

21 September 2022

The total value of money laundering is estimated to be at 2 to 5% of the global Gross National Product (GNP). That amounts to hundreds of billions of euros per year. In the fight against money laundering, national and international supervisors are imposing more and more rules on financial institutions and banks in order to curb money laundering practices. These rules have the disadvantage, which is that well-intentioned and bona fide customers are repeatedly harassed and have to prove their identity again and / or explain where their money comes from. However, this can be arranged differently using RegRech.

This new white paper from Hyarchis takes a closer look at the five most important trends and discusses them one by one in greater detail. The five trends described in the white paper are, first of all, Customer Due Diligence, where there is a risk of high fines if not executed properly. The second trend is transaction monitoring, in which Artificial Intelligence and Machine Learning play an important role. The third trend mentioned is Platformication, in which the existing infrastructure is preserved, but at the same time it is flexible enough to integrate new products via external service providers. The fourth trend that is discussed is Cloud Security, or in other words, cybersecurity today that comes into play. The fifth and final trend discussed in this white paper is Regulatory Reporting, where the integrated reporting obligations imposed by regulators in particular are an enormous challenge.

Download this white paper now for free.