RegTech Unleashed: Discovering the Pathways Beyond Finance

RegTech is defined and analysed extensively in this book as a category of FinTech or in the context of financial services (FS), but this limits our imagination and the potential for innovation. Contrasting regulatory and compliance approaches adopted in FS and non‐FS sectors can provide fertile grounds to cross‐pollinate innovation. This requires seeing RegTech broadly. While considering the lessons provided by FS RegTech solutions, this chapter examines the factors impacting RegTech in: its development as a business and product, its ability to attract investment, and its potential social impact to attract buy‐in from the public and the public sector – and thereby the conditions for unleashing the potential of RegTech. In covering a wide array of subjects, the RegTech market has enormous potential outside the FS sector to reshape regulatory practices with the promise of real‐time insights, predictive analytics, and other unprecedented compliance capabilities.