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 Research Report The UK Investment Landscape Sep 2025 - This report demonstrates the strength of the UK financial services industry. The analysis maps the sources and destinations of £3.9tn of investment capital in the UK. The UK Investment Landscape Research Report Transition Finance Council: Mid-year progress report Sep 2025 - This report offers a snapshot of the Council’s first six months: what we’ve achieved, the lessons we’ve learned, and the path ahead. Transition Finance Council: Mid-year progress report Research Report Sector Transition Plans: The Finance Playbook Sep 2025 - Practical guidance on integrating strong finance plans within sector transition plans and technology scale-up roadmaps. Sector Transition Plans: The Finance Playbook Research Report UK India Infrastructure Financing Bridge Sep 2025 - This first annual report captures the UK–India Infrastructure Finance Bridge (UKIIFB) Year One learnings UK India Infrastructure Financing Bridge