The term RegTech is a contraction of the words "regulatory" and "technology". The term is used about digital products and services that ensure compliance with legal requirements and it is especially known from the financial sector. RegTech makes it possible for enterprises and organisations to meet the regulatory challenges by using digital solutions. It creates a huge potential for automation and consequently optimisation of processes, particularly in the area of compliance on which a lot of enterprises are spending a lot of resources.
The development in RegTech is explosive and a lot of aspects must be taken into account. We assist with the legal expertise and make sure that all regulatory requirements are met when developing and using digital solutions.
We have extensive knowledge of and experience in the interface between digitalisation and regulation, including RegTech, and we provide assistance at all stages of a project that is to use digital solutions and tools to ensure compliance with rules.
Our experience includes providing advice in the following areas:
Developing and implementing legal and suitable digital products and services to support abusiness area.
Mapping all relevant regulatory requirements in specific areas (for instance money laundering, meeting and ensuring reporting obligations, documentation requirements, cash flows etc.).
Translating regulatory requirements for digital requirements of functionality and processes (specification of requirements).
Assessing whether a contemplated and an existing digital product or service fulfils all regulatory requirements and leads to the appropriate compliance management (legality analysis and compliance assessment).
We are trained in project management and are very experienced in both managing and participating in RegTech projects in collaboration with the employees of the enterprise or organisation in question and other advisors, if any.