It is noted within the Baringa insight survey, that CASS firms reported improving relationships with the regulator. Do you believe the increasing adoption of Reg-Tech has contributed to this improvement?
The increased use of regulatory software certainly aligns with the regulators’ preference for firms to employ technology to automate processes and controls that have been performed in a more traditional manual manner historically.
The introduction of such solutions comes with a natural recognition that to implement such technologies requires financial, staff resource and project management thus demonstrating such firms are taking their obligations in this area seriously. Such an approach will improve regulatory relations.
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