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Challenges to meeting regulatory and compliance requirements

Rapidly changing customer needs, new competitors, macroeconomic uncertainties and increasingly complex regulations - the conflicting priorities among which compliance and risk functions in the financial industry operate is influenced by various external factors. Furthermore, in an increasingly agile working world, both the provision of real-time data and cost efficiency are required.

Regulatory technology - or “RegTech” for short – and the business entities active in this environment advertise with the promise of increasing speed through the use of technology in the strictly regulated financial market environment, thereby increasing efficiency and digitising and automating processes.

The technologies used by RegTechs are as diverse as their areas of application. For example, deep-learning algorithms that automatically extract insights from structured or unstructured data can reduce the effort required to identify regulatory changes and thus enable cost efficiency. Machine learning can help optimise know-your-customer processes and increase efficiency in the anti-financial crime environment.

KPMG has years of in-depth expertise and industry knowledge in the area of regulatory management and compliance. We combine this know-how with a comprehensive overview of the RegTech market and close contacts to different technology providers – from start-ups to established software companies.

We support you at every stage, including the selection of suitable technology companies, the execution of implementation projects, and the development of a more efficient regulatory management system and more efficient anti-financial crime- and compliance-related processes.

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