With the challenges of financial crime increasing with an ever-growing digital presence for firms and threat actors alike, there is a growing desire in the industry for more real-time management of such threats. What are the challenges and opportunities for such technologies? According to Holly Sais Philippi, CEO of RegTech firm Alessa, real-time AML compliance is...Read More

A big challenge currently in the financial industry is the rise of authorised push payment fraud (APP). The Payment Systems Regulator (PSR) recently introduced new legislation on 7 October to combat this. How will this legislation impact fraud in authorised push payments? According to Taavi Tamkivi, CEO and co-founder of Estonian RegTech Salv, the new legislation...Read More

The vast and breakneck expansion of in-house AI solutions is leading to many companies scrambling to ensure such solutions are complaint and strongly secure. What role can RegTech play in this challenge? According to Joseph Ibitola, growth manager at Flagright, as AI becomes more entrenched in financial institutions – especially in-house AI solutions tailored to specific...Read More

As the age of digitalised regulation comes closer into the view, there is growing discussion around the role of machine-readable and executable regulation in the financial industry. According to Michael Thirer, legal director of Muinmos, the role of such a technology may very easily grow beyond what its users could have imagined. He said, “In Greg...Read More

The Artificial Intelligence Act officially came into force on 1 August 2024. The Act, one of the first of its kind, establishes a common regulatory and legal framework for AI within the European Union. How will it impact the financial sector? According to Susie Mackenzie, head of legal analysis at Corlytics, regulating AI represents a challenge...Read More

Whilst its existence in the industry has been known for countless years, the impact and use of AI in financial services has ramped up massively over the past three years. In the area of risk assessments, how has AI changed this process? According to Anna Shute, product manager at Qkvin, risk management is a crucial aspect...Read More

SMEs are often the lifeblood of an economy, and being able to protect against future challenges – whether physical or digital – are always top of mind. In this fight, what role does RegTech play in abating these fears? One of the biggest transformational shifts of recent years has been the wholesale shift to the...Read More

The global RegTech sector is projected to reach a value of $66.9bn by 2032, growing at a 22.6% CAGR from 2023, according to a report from Allied Market Research. Given its size, it is evident that the market is full of various types of RegTech solutions all claiming to revolutionise the output of compliance teams....Read More

The role of artificial intelligence is continuing to evolve within the FinTech sector. As firms get to grips with the technology’s potential, many stakeholders are attempting to figure out what comes next.  One particular area that is ripe for disruption is customer onboarding. A practice that can at times be slow, arduous and burdensome, the...Read More

FinTech Global recently spoke to RegTech firm Alessa to take a deeper dive into the regulatory landscape of 2024 and the strategic insights that financial firms can take away from it. Ontario-headquartered Alessa provides e a complete compliance program on one integrated, modular platform to help compliance teams meet, or exceed, regulatory requirements and stop financial crime...Read More