Digital Technology Podcast | Regulatory Technology

Financial Technology Solutions and Compliance

Financial technology solutions and regulatory compliance go hand-in-hand. With the advent of embedded finance solution, there is a sudden growth in financial technology companies. They offer various digital finance services and regtech solution for banks and financial institutions. It eases the job of the employees and provides the customers with a range of fintech solution. The customers are extremely satisfied as they can avail the services online over any device that are connected to the internet. As technology grows by leaps and bounds, so does the organised crime in fintech payments. High-tech organised crimes aim at swindling money from your customers, illegal transactions using your customers’ credentials, and money laundering. This poses a threat to the regulatory compliance of your organisation.

Whenever your organisation fails to comply with regulatory compliance, it has to compensate the customers and bear the legal proceedings. This will lead to financial losses to your organisation and also brings down its reputation. Some regulations may also ban your businesses temporarily or permanently within their territory. Regulatory technology comes in handy to effectively and efficiently implement banking automation solution for compliance. It provides an alert on any abnormal behavior in transactions whenever they occur. It also prepares various reports on organised crime by extensive data analysis, and effective utilization of regulatory capital.

Paul Stringfellow, host of Techstringy along with Shub Nandi, CEO and Co-Founder of PiChain discusses the role of financial technology solutions. Both of them amazingly bring out the roles and challenges in robotic banking solution. They unveil how digital financial services enhances the capabilities of regulatory technology.

In this highly-informative podcast, they both examine organised crimes and blockers in implementing regulatory technology and fintech in banking. They also delve into its root cause, ­ black box attitude, and digital footprint and its importance. They bring out the role of the Regtech solution for banks developed by AI and ML-based software solution coupled with blockchain. This along with data science, meticulously implements fintech solution for regulatory compliance and offers secured digital financial services.

Shub Nandi portrays a holistic approach to solve the problems faced by institutions in implementing fin technology services. He places the challenges of the compliance officers across the table for analysis and dissects them with utmost care. This highlights the role of compliance officers in curbing organized crime and implementing fintech services effectively. Fintech banking and financial services have made financial inclusion as their top priority. Hence, financial technology companies are inclining towards development of innovative banking platform automation tools. 

To make compliance sustainable, financial technology has to be interfaced with regulatory technology to trace the digital footprints. This is essential to gauge the behaviour of the culprits involved in the malicious transactions. Effective implementation of regulatory compliance helps to improve the regulatory score of any financial institution. It also helps to efficiently use of regulatory capital allocated by the financial institution. PiChain has developed such systems that are powered by AI and ML. These systems improves its intelligence and performance over a period of time from its inception into the financial technology.

Have you implemented regulatory technology into your digital finance services? Do you wonder how fintech lending platforms will ease the operations? How digital banking solutions make your compliance officers more effective and efficient? Then, listen to the podcast to know more about augmented human enterprise. Discover how financial technology solutions offer seamless fintech services.

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