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How to Harness the RegTech Ecosystem

How to Harness the RegTech Ecosystem

by Starling Insights

Starling Insights Editorial Board

Oct 19, 2023

Observations

As reported by China Daily, banks and other global financial institutions published over 61,000 regulatory alerts concerning new trade policies and rules last year, a sure sign that the ever-evolving regulations have become burdensome. However, the adoption of regulatory technology (regtech) has emerged as a game changer, particularly in Hong Kong.

According to the Hong Kong Monetary Authority (HKMA), more than 80 percent of banks surveyed have already incorporated regtech into their standard procedures, with expectations that this figure will reach 89 percent by 2025, making it one of the top three commonly used tools in financial technology.

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