Updated: May 10
The Gen Advisory team has published a short report which highlights how Australian FinTechs are benefitting from RegTech adoption.
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.