A new RegTech UK research report published by City of London Corporation and RegTech Associates suggests that 2021 will be a critical year for RegTech and business in the UK.

The report considers innovative technologies provided by the UK RegTech industry and how these can assist financial services to better meet their regulatory and compliance obligations.

To mark the launch of the report for 2021, a panel of industry regulators, influencers and RegTech business owners met to discuss the future of RegTech and key barriers to success. 

Over two-thirds of RegTechs headquartered in the UK have less than 50 employees and some of the barriers to adoption, such as long procurement cycles within financial institutions can make things very difficult, especially for these smaller firms.

Joanne Smith, Recordsure Founder and Executive Chair

With regulation now penetrated to the core of all financial institutions from insurance, banking to asset management, Recordsure’s AI-based speech and document analytics tools are uniquely developed to serve the financial firms to ensure regulatory compliance.

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