What is RegTech?
The term RegTech emerged in 2016 and refers to the marriage between the terms Regulatory and Technology. Simply put, RegTech is the use of technology to better deal with regulatory and compliance requirements. This helps businesses to understand, evaluate and manage their risks efficiently.
Who is RegTech for?
Although Deloitte and EY have described it as “the new FinTech”, RegTech solutions should be able to service any type of business that needs to manage compliance and risk.
The Benefits of RegTech
RegTech is all about making it easier, quicker and more efficient to monitor and satisfy the business’ compliance and regulatory obligations.
“By making compliance less complex and capacity-demanding, regtech solutions could free capital to put to more productive uses, increase competition by removing a barrier to entry, improve the quality and efficiency of supervision, and reduce risk in the system.”
– The IIF
RegTech is…
01.
Reducing the cost and risk associated with compliance
02.
Simplifying the compliance process
03.
Increasing efficiency and speed
04.
Creating an auditable, trackable data-driven process
05.
Enabling scalability
06.
Empowering non-legal teams
The key characteristics of RegTech
Agility
Decluttering compliance by breaking the regulatory requirements into smaller, fast-paced tasks with a built-in iterative process.
Speed
Enabling a streamlined process that can be configured and generated as quickly as you need it to be.
Integration
A good RegTech solution will only require a short time-frame for implementation and will be capable of seamless integration and customisation, in line with specific business needs.
Analytics
RegTech uses analytical tools to intelligently examine 'big data' data sets and unlock their true potential.
Is Law of the Jungle RegTech?
It sure is!
Law of the Jungle Marketing is a cloud-based RegTech solution that zeros in on the marketing compliance and regulatory needs in a wide range of sectors (FMCG, Pharma, Financial, Gaming & Entertainment, Telco and others). It simplifies the marketing compliance process and protects businesses and their brands.
Our platform provides real-time answers and guidance that enables businesses to execute marketing activities faster, more effectively and with minimum risk exposure. In other words, Law of the Jungle Marketing‘s technology turns marketing compliance into your competitive advantage.