Complyport Tech’s CEO Panayiotis Omirou has given an interview to Finance Magnates where he discusses overall industry trends, regulations, and much more.
In this interview, Panayiotis highlighted the great value RegTech solutions can provide to financial firms in need of assistance with regulatory reporting, risk management, identity management, compliance, and transaction monitoring. The increasingly complex regulatory environment, along with the heavy penalties issued by regulators in recent years, explains why there has been a marked increase in demand for regulatory technology solutions.
Moreover, RegTech has shifted from serving as a best effort to adhere to the spirit of the rules to a more comprehensive mechanism by which companies can be as accurate as possible in their reporting. Companies are now looking to achieve those high levels of accuracy that had previously been deemed unattainable, thanks to a greater availability of reconciliation options or the deployment of AI in a feasible, affordable, and useful way.
Click here to read the full interview.
