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RegTech – The Greatest Opportunity in FinTech

Banks globally are now spending in excess of $270 billion per year on compliance and regulatory obligations, having 10–15% of their staff dedicated to compliance on average. Compliance costs for FIs amount to substantial parts of total expenses, with a negative correlation between the size of the institution and the percentage of total costs. While banks with assets ranging from $1 billion to $10 billion reported total compliance costs averaging 2.9% of their non-interest expense ...

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