March 7, 2018
Compared to pre-financial crisis spending levels, operating costs spent on compliance have increased by over 60% for retail and corporate banks. With that, the global demand for regulatory, compliance and governance software is expected to reach $118.7 billion by 2020.
Investments and regulatory compliance solutions, however, cannot be seen exclusively as an expense account anymore and proven to be worth the hassle. Estimates suggest that investments in regulatory software can lead to an ROI of 600% or even more with a payback period of fewer than three years. While the estimate is allowed to be off, case studies prove investments in risk, governance, and compliance solutions to be bringing material benefits to clients across industries.
Large banks have invested substantial time, efforts and money in their existing compliance systems, hence are reluctant to implement new RegTech solutions unless there is a significant return on investment. However, when revenues and margins are under pressure, significant cost savings (upwards of 40-50%) as a result of reduced manpower, lower cost of technology and improved decision making becomes attractive to banks. - Arun Iyer, EVP, Hexanika
Use cases of RegTech solutions are much broader than commonly known regulatory reporting. Identity validation, risk management (which includes scenario modeling and forecasting), transaction monitoring and auditing systems, web due diligence and security, identity controls – these are just some of ...
This content is available for members only. Subscribe now!
12-month access to 10,000+ insights, research reports, a database of 13,000+ FinTech companies, and a live global community.
instant access to reports and global community along with donation to COVID-19 fund.
12-month access to 10,000+ insights, research reports, a database of 13,000+ FinTech companies, and a live global community.
instant access to reports and global community
MEDICI offers data-driven, original, unique, and forward-thinking content to understand the “why” behind the “what”
10,000+ insights, 100+ research reports, and 1,000+ videos based on data, collected and processed by top-in-class researchers with over seven years of experience in the financial service industry.
We do not stop at the data; we analyze it and extrapolate actionable insights that shape and forecast market trends. All of our pieces are neutral, authentic, and unique – this means that you can’t read them anywhere else!
We do also care about design. It’s why our infographics are the most-used ones in company reports and the most shared ones on social media.
We have one of the largest databases with more than 13,000 company profiles listed across 60+ verticals! The database contains primary data collected in two ways:
Through our Global Listening Engine – a proprietary algorithm able to extrapolate and collect data across numerous sources
Directly from FinTechs – thanks to the onboarding flow through which companies can list themselves on the most used database for venture capital in the industry
You will be added to our private WhatsApp Channel with more than 200 FinTech leaders across the globe, where we engage in discussions around various financial services topics daily. After a few clicks, you’ll get to know the whole community, including the MEDICI team – you can ask questions, suggest topics, and get behind-the-scenes insights
MEDICI Inner Circle™ is the membership you need to freely access all MEDICI content, which includes insights, research reports, videos, startup knowledgebase, and the members-only community for live engagement.
We cover more than 60+ sub-segments in FinTech – but we do not stop there; we also cover topics beyond FinTech, such as InsurTech, RegTech, PropTech, WealthTech, BankTech, AgriTech, and the enabling technologies enabling innovation such as AI, Blockchain, etc.
By becoming a member, you will unlock all the content on our website. A free subscriber gets access to only 5% of what we publish on the web-site. Paid members also get preferred access to our live events, and exclusive access to the members-only community for live digital engagement.
Yes. Please write to us at innercircle@goMEDICI.com.
Yes. Please write to us at innercircle@goMEDICI.com.
We offer a 7-day free trial during which you can access all of our data, insights, and analyses. You can cancel the subscription any time before the end of the free trial period. However, we do not offer refunds.