Written by FT Adviser
In his 2016 state of the union address, then-US president Barack Obama famously said: “Food stamp recipients didn’t cause the financial crisis; recklessness on Wall Street did.” Since 2008, regulators have been trying to plug the gaps that caused the crash, using two main approaches – massive fines and masses of new regulation.
In a sector with so much complexity, to what extent is RegTech solving the real compliance issues facing financial services?
Half of the companies in the first wave of the Financial Conduct Authority's advice unit have either launched a low-cost advice service or will be doing so imminently.
Over the last ten years it has become increasingly possible to turn bright technology ideas into smooth, working, scalable solutions, writes founding director of Altus, Kevin Okell.