Summary
Authored by Grant Thornton, this report provides key insights into the regulatory technology (RegTech) landscape in the UK financial services sector. Based on a survey of 119 risk and compliance professionals, it analyzes trends, challenges, and the adoption of RegTech solutions aimed at addressing evolving regulatory obligations. The report serves as a guide for financial institutions seeking to enhance compliance through innovative technology solutions.
Key Take Aways
Increased Regulatory Obligations: 77% of respondents anticipate more regulatory obligations in 2024, indicating heightened complexity in the regulatory landscape.
Key Adoption Drivers: Cost, ease of use, and operational effectiveness are the top considerations when acquiring RegTech solutions.
Training Needs: Although 71% of respondents believe their employees are adequately trained to manage regulatory changes, continuous improvement in training remains a focus.
Cross-Department Collaboration: Only 16% of resp...
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