In the past, regulations governing buy-side entities were far less complex than those which governed the sell-side. So when RegTech began emerging at the start of the last decade, its cost to management firms was higher than its worth – especially for companies with limited resources.
How things have changed in just a few short years!
Today, regulations and laws govern everything from MiFID II (Markets in Financial Instruments Directive II) to GDPR, and companies in the Asset & Wealth Management sectors are finding themselves constantly challenged to comply with regulations such as the Senior Managers and Certification Regime, AIFMD, and Market Abuse Regulation.
But the challenges don’t stop there!
Asset & Wealth Management firms now have to contest with the technological innovation and implementation necessitated when dealing with the financial sector; financial institutions are striving to deliver increasingly digitalised services; and compliance officers are struggling to keep up with the increased workload. Factor in the corona pandemic (and the necessary increase in digitalisation of services) and RegTech is no longer an asset. It’s a must!
As regulatory technologies become crucial to the survival of firms in the Asset & Wealth Management sectors (who could possibly manage to comply with the current, ever-changing regulations using the time and effort- heavy systems of the past?!) businesses are now turning to innovative, comprehensive solutions. Solutions which keep apace with the ever-changing protocols of both regional and global regulatory agencies, while swiftly executing all compliance tasks, and matching the increasing demands of digitalisation. Cutting-edge technology (including blockchain, AI, and big data analytics) has seamlessly automated compliance processes with near 100% accuracy, effortlessly analysing global data while ensuring compliance on a multi-jurisdictional level. Which means buy-side entities must, of a necessity, turn to RegTech solution providers to cut costs, boost efficiency and stay manage their client base. Today, there’s no longer a debate: RegTech has become indispensable to buy-side entities.
Here, at one of Europe’s leading RegTech solution providers, the innovative iSPIRAL RegTek+ platform delivers comprehensive protection and total compliance to buy-side entities. Utilising the clever and complete technology of our Centralised Compliance Management Solution (effortless to implement, and complete with seamless onboarding, AI driven machine learning, and personalised support from our team of experts) we’re reinventing the way Asset & Wealth Management firms fight financial crime. With iSPIRAL’s RegTek+ Platform, risk is now truly a thing of the past!