Regtech
Innovative RegTech Solutions for Seamless Compliance
RegTech seeks to keep regulatory compliance up to date with the evolution of 21st century technology. Where FinTech used new developments in technology to improve the financial industry, RegTech will see a similar overhaul when it comes to compliance.
In an increasingly digital world, when we step ever closer to the Internet of Things and truly digital economies, we need solutions that are as advanced as the areas they are overseeing; there is little point in having paper-based method of regulation in the modern world, but some industries still rely on physical documentation and checks. Instead, as blockchain, cryptocurrencies, AI and IoT disrupt the finance industry and more besides, solutions using those same technologies – RegTech – needs to be implemented.
“There are huge benefits to the introduction of RegTech and they are essentially equivalent to the advantages that were seen by the financial industry with the introduction of FinTech”
From increased speed and efficiency, to improved security and reliability. Never before has the opportunity to provide user privacy and control whilst maintaining compliance been possible. A report in 2018 from the US Financial Industry Regulatory Authority (FINRA) discussed potential applications of RegTech and the consequences it could see.
BLOCKPASS
A Complete Solution Portfolio
Blockpass offers a multi-product portfolio that allows merchants to choose the scale of solution that applies to each business and jurisdiction. Whether a business wants only Face Match certification, or if they also require KYC, AML or enhanced SLAs, Blockpass is able to offer a full range of identity verification solutions.