Posted: 10 Apr 2024 Resource Type: Research Report Back Identifying the policy impact on compliance technology The role played by RegTech - and compliance technology more broadly - is crucial in assisting firms to meet and enhance their adherence to regulatory standards. With the proliferation of data, the complexity of processes and the multitude of necessary regulatory obligations, achieving compliance without technology is no longer possible. The City of London Corporation, in partnership with Innovate Finance, has released a new report calling for the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) to introduce a ‘RegTech Test’ to help assess how technology can best enable regulatory compliance, and discusses a wider range of regulatory initiatives when considering the policy impact on compliance technologies, also highlighting the benefits of implementing the ‘RegTech Test’. One of the key drivers of our success as a global financial centre is the strength of our regulatory frameworks within an agile and receptive business ecosystem. RegTech offers a prime opportunity for the UK to boost its competitive edge and take a leading position as a hub for fintech innovation that is in step with the pace of global digital transformation. Working alongside the Government and regulatory bodies, we can unleash the full potential of the systems and solutions this report recommends. Chris Hayward Policy Chairman of the City of London Corporation RegTech Test Download the report from Innovate Finance Download the report from Innovate Finance Share: Share to LinkedIn LinkedIn Share to X Share to Facebook Facebook Share to WeChat WeChat Share to WhatsApp WhatsApp Share to Email Email Related content Thought Piece International financial & professional services firms access the workers they need in the UK May 2024 - The UK’s talent pool is the bedrock of its world-class FPS sector. This competitive edge explains why so many international financial and professional services (FPS) firms choose to locate in the UK. International financial & professional services firms access the workers they need in the UK Research Report The UK | a top destination for financial and professional services investment Apr 2024 - Research led by the City of London Corporation shows that the UK continues to be Europe's most popular destination for foreign direct investment in financial and professional services The UK | a top destination for financial and professional services investment News Women pivoting to digital Apr 2024 - Announcing a new taskforce taking action around women pivoting from non-technical backgrounds into digital roles Women pivoting to digital Research Report The British American Finance Alliance Apr 2024 - The British American Finance Alliance (BAFA) joins together over twenty groups representing the UK and U.S. financial and related professional services industries. The British American Finance Alliance