Late last month, Innovate Finance, an industry body for FinTech firms in the UK, announced the launch of a Regulatory Technology (RegTech) Strategy Group in partnership with the City of London Corporation and EY, as reported by FinTech Finance News.
To be chaired by EY Partner Chris Woolard, the Group will seek to drive collaboration between regulators, government, RegTech firms, and financial institutions to address key challenges facing the sector. Its work will focus on financial crime, digital ID, cross-border transactions, and streamlining regulatory reporting. In addressing these topics, the Group will also look to bolster the UK's economic growth agenda and support its position as a global financial center.
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