Development of RegTech Sector: An Extraordinary Journey of Financial In-dustry after Crisis
Over the past decade, the increased appetite of regulators has made the financial industry look forward to technological solutions that help meet regulatory compliance, enhance transparency, and maintain consistency. The credit crisis of 2008 followed by the crushing burden of heavy financial regulation services hit the industry with a hefty thwack. However, it rose from the ashes like the proverbial phoenix in the nick of time and brought Regu-latory Technology (RegTech) into the mainstream to tackle the ever-increasing challenges of compliance. These days, the demand for regulatory technology has been exploding and, with this, RegTech is expected to become a nearly 120 billion industry by 2020.
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