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How firms can manage rising compliance costs
Thursday December 10 2020
Immaculate Kassait during her vetting by MPs for the Data Commissioner post on October 20, 2020. PHOTO | JEFF ANGOTE | NMG
By ARNOLD KARANJA
Summary
It could be a new term but not necessarily a new concept as tech companies and banks have always developed and relied on technology for regulatory solutions. Regtech effectively uses machine learning, cloud computing, blockchain and big data to solve the ever-increasing regulatory and compliance requirements. In today’s world, compliance without technology to support it is ineffective and costly a small error of oversight can have catastrophic effects if regulatory breaches cannot be prevented,” observes Susanne Chishti CEO of FINTECH Circle in