Top five priorities for regtech ecosystem areas
The top five RegTech ecosystem areas all represent a need for collaboration between the three different personas surveyed (RegTech buyers, RegTechs and advisors). The key takeaway is the need to stay up-to-date with the latest developments in RegTech, and the potential benefits that advanced technologies can bring to the regulatory compliance landscape.
Q. Of the activities and outcomes listed below, could you indicate the top 5 you think should be prioritised?
![Chart showing survey respondents' answers to the first question]()
Areas of opportunities for regtech
These insights can help inform the development of RegTech solutions that meet the needs of firms and improve their ability to manage regulatory change both in the short-term and long-term.
The data-driven approach provides objective insights into how firms are using RegTech solutions and the challenges and opportunities they present. This information can ultimately help to better understand their clients’ needs and to develop solutions that address their most pressing regulatory challenges.
Regulatory challenges
Navigating the complex regulatory environment is a significant challenge for organisations, and the use of technology is becoming increasingly important for meeting regulatory requirements. The majority of organisations recognise the importance of regulatory compliance and have taken steps to equip their employees with the right tools and support.
The results of this survey highlight the complexity of the regulatory environment, with a majority of organisations rating it as moderately complex, and a significant portion rating it as very complex. By investing in the right technology and tools, organisations can improve their ability to meet these requirements, achieve greater efficiency and effectiveness in their operations, and gain a competitive advantage.
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The main regtech solutions regulated firms are looking to buy over the next 12 months are:
- financial crime
- horizon scanning
- governance risk and compliance
- regulatory reporting
- regulatory risk calculations
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Even though other areas of the regulatory taxonomy have been identified as more challenging, the core elements of regtech are still investment priorities.
Q. What, if any, aspects of the regulatory environment do you find challenging?
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Investing in technology
The results of this survey show that the most significant factors for buyers include RegTech solutions that can be applied to multiple regulatory problems and more competitive pricing. There’s a clear message from the market, supported by the regulators, that key c-suite buy-in from their peers would create a path for them to invest in a clear RegTech strategy.
Q. What would help you invest more in RegTech solutions?
![Chart showing survey respondents' answers to the third question]()
RegTech solutions for the year ahead
Q. Over the next 12 months what RegTech solutions are you seeking to invest in?
![Chart showing survey respondents' answers to the fourth question]()
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The main RegTech solutions regulated firms are looking to but over the next 12 months are:
- Financial crime (AML/KYB/KYC)
- Governance risk and compliance
- ESG
- Regulatory reporting
- Artificial reporting
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Even though other areas of the regulatory taxonomy have been identified as more challenging, the core elements of RegTech are still investment priorities.
