RegTech Insight Webinar: Overcoming the Barriers to Implementing RegTech Solutions: The View from Either Side of the Fence
In early June, our Marketing and Partnerships Manager, Matt Flenley, took part in the Regtech Insight webinar to discuss the challenges facing RegTech entrepreneurs and practitioners alike.
Missed it? Watch the recording below:
RegTech solutions providers complain that it’s difficult to get access to decision-makers, and even when they do it’s tough to qualify as a supplier under firms’ strict procurement rules. Meanwhile, innovators at financial institutions, meanwhile, say it’s hard to get buy-in, either from mainstream business line heads with budget or senior management with more strategic priorities.
RegTech holds the promise of targeted, agile and often low-cost solutions to the real-world problems faced by financial institutions across the board. So why is it so difficult to get RegTech projects off the ground? – A-Team
For RegTech vendors, it has explored:
- Strategies for engaging with large financial institutions
- How to address pain points specific to financial services
- Working with financial institutions’ innovation teams
- Dealing with procurement/purchasing departments
For Regtech consumers, it has explored:
- Making the business case: Cost vs. benefit – how to assess which RegTech solutions are right for your firm and will fit your operating model
- Getting compliance on board and managing the different stakeholders involved – what conversations should you be having?
- Encouraging innovation and culture change in large organisations with legacy Systems, siloed data/ technology and a lack of a joined-up approach across the business
- The need for collaboration to move forward.