How Australian FinTechs are benefitting from RegTech adoption

Updated: May 10

The Gen Advisory team has published a short report which highlights how Australian FinTechs are benefitting from RegTech adoption.

Key insights:

  • Australia boasts a rich and diverse RegTech sector, consistently ranking in the top echelon globally for product development and innovation.

  • The benefits of RegTech are not just limited to large financial institutions. In some ways, smaller FinTechs are benefitting the most from these new technologies.

  • By easing the regulatory burden while enhancing compliance for smaller FinTechs, RegTech is helping to level the playing field.

  • RegTech is not designed to replace risk management and compliance professionals. Instead, RegTech is augmenting the role of these professionals.

  • AML-CTF and AFSL compliance are two examples of areas where RegTech has been delivering tangible benefits to FinTechs. With growing scrutiny from regulators pertaining to AML-CTF and AFSL compliance, RegTech innovations are helping smaller FinTechs to meet these obligations.

Click here to download the report.

The Gen Advisory team is a niche, Sydney-based consulting firm suppporting authorised deposit-taking institutions (ADIs) and FinTechs.

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