European Banking Authority releases report about RegTech

On June 29, the European Banking Authority (EBA) published a report on the use of technological solutions by financial institutions to ensure compliance with the rules applicable to them (RegTech) in the banking sector.

This report presents the current RegTech landscape in the European Union, focusing in particular on the main existing solutions and their state of adoption. It also identifies the benefits and challenges associated with RegTech and analyses the technological tools used by institutions in five areas of focus: anti money-laundering/countering the financing of terrorism, fraud prevention, prudential reporting, ICT security and creditworthiness assessment.

Full press release on the EBA’s website

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