Regtech, short for regulatory technology, uses innovative technologies to help companies comply with regulatory requirements more efficiently and effectively. It automates compliance processes, monitors transactions, manages data, and ensures adherence to legal standards.
Top 5*
Compliance
About Regtech
Regtech emerged in the early 2010s as a response to increasing regulatory demands following the 2008 financial crisis. Financial institutions sought more efficient ways to manage compliance and reduce costs. The technology leveraged advancements in data analytics, artificial intelligence, and blockchain to streamline regulatory processes and improve accuracy.
Strengths of Regtech include increased efficiency, reduced compliance costs, improved accuracy, and real-time monitoring. Weaknesses involve high initial implementation costs, data privacy concerns, and potential integration issues with existing systems. Competitors include traditional compliance methods and in-house compliance teams.
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How to hire a Regtech expert
A Regtech expert must have skills in data analytics, machine learning, artificial intelligence, blockchain technology, and regulatory knowledge. Proficiency in programming languages such as Python or R and experience with compliance software are also essential.
*Estimations are based on information from Glassdoor, salary.com and live Howdy data.
USA
$ 224K
Employer Cost
$ 127K
Employer Cost
$ 97K
Benefits + Taxes + Fees
Salary
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