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TL;DR EBA’s RegTech Outlook

Posted by Owen Murphy on Jul 19, 2021

The European Banking Authority (EBA) published an analysis of the RegTech landscape in the EU highlighting key opportunities and challenges. Below is a quick synopsis of what you need to know.  

La Defense

La Defense, Paris, where EBA is headquartered

Key opportunities of RegTech: 

  • Increase efficiency through better monitoring and sampling 
  • Reduce human errors 
  • Reduce the impact of ongoing regulatory change
  • Improve the effectiveness of risk management 

Key challenges of RegTech: 

  • Data (quality, security, privacy)
  • Integration with the existing legacy systems
  • Lack of API capabilities within financial institutions
  • Lengthy procurement processes 
  • Limited awareness of RegTech solutions
  • Regulatory standards across EU Member States

A level playing field 

As the RegTech industry continues to evolve, The EBA is committed to technological neutrality to ensure no one vendor has a monopoly in the market. This will require constant monitoring and sharing of information on technological developments. 

In Q4 2021, the EBA will organise a public online webinar to discuss the findings of the RegTech market analysis in the EU. Find out more on the EBA website.

Looking for a RegTech solution for Shareholding Disclosure or Position Limit monitoring? Then get in touch!