7 Top Tips for Choosing the Perfect RegTech Solution

Small businesses neither have the time nor the finance to keep up with regulations. But with technology taking over every aspect of the business, it has become easier to manage regulations. One such technology that is making waves is the RegTechor regulation technology based on artificial intelligence.

Fully Verified video identity verification features will be one area where RegTech can score and prevent frauds and noncompliance. Here are seven tips to help you choose the best RegTech solution.

  1. Must have expertise in all fields: Any business is an amalgam of sales, marketing, and other such operations. To be able to cover all your bases and resolve all issues of compliance and regulations you need a team that is well versed in all aspects of the business.
  2. Explore newer technologies and startups: The market for technology-driven regulations is increasing at a rapid pace and cutting-edge technology is no more the main criteria for selecting a RegTech solution. You must go beyond the established markets and seek newer ventures and startups that think differently and have a different perspective that is fresh and unique.
  3. Be open for new perspectives: Don’t be biased in your opinion of vendors. Be ready to listen to all the possible solutions and outcomes that a vendor presents that you are not aware of or haven’t envisaged.
  4. Be able to customize to your needs: Regulations keep changing and so must the technology that deals with it. Hence, choose a vendor who can adapt to the needs of the hour and customize solutions for you in tune with changing regulations.
  5. Must be worthy: Even before you finalize the Regtech solution you must have a clear picture of your expectancies from the vendor and how all your requirements are met with. Any solution that provides frequent test points is worth its salt.
  6. Should be cost efficient: In general, all RegTech solutions are cheap and do away with the insane amount often paid to auditors, all the same, you must ensure that the solution that you choose does its job well.
  7. Saves times: By managing the implementation of policies in all departments ensure that the staff has more time to be more productive.

The Most Influential Fintech Leaders in 2018

When a consortium and/or partnership is formed among financial institutions and technologists, you can be sure of what’s in the offing – a system that helps promote/optimize trading for better profit margin. The Fintech industry has been of immeasurable value to the trading sector in a vast array of ways  and it is only fitting for us this day to make a foray into the ‘engine room’ to see some Fintech leaders that are presently influencing the world of trading and financial services industry through the formulation of viable strategies. This group of individuals have engaged their faculties and made [and are still making] their impact felt in great measure.

5 Top Fintech Leaders In 2018

Here is our list of 5:

Jim Marous: A voice that cannot be mistaken or neglected in the world of Fintech. Jim Marous is a strategist, financial services analyst and author. He lends his voice to subjects bordering on innovation, channel distribution, digital transformation and so much more. Jim’s profile is huge and so, is his impact in the area of Fintech.

Don Tapscott: Don Tapscott is a guru when it comes to Business and organizational transformation. His impact in Fintech is widespread but his influence as the co-founder of Blockchain Research Institute has placed him in the very core of Fintech.

Tiffany Hayden: Tiffany Hayden for her valuable contribution in Fintech also deserves a space in this list. She is involved in Bitcoin and also co-founded mobile payment processing platform, Casheen Inc.

Mike Quindazz: Mike is a techie genius, and he earns his mark in digital services, Blockchain as well as some other technologically-inspired endeavors. He is indeed an influencer that is worth looking out for.

Sebastian Meunier: Sebastian Meunier gracefully takes on topics that are related to business transformation Innovation in Finance and Blockchain. He has been in the sector [of financial services] for over 15 years now, and is still inspiring startups in a measure only those that have been touched by his wand can explain. He is certainly one to watch out for.

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