Digital solutions to regulatory challenges
The cross field between digitalisation and law is developing at an explosive rate, offering a host of new possibilities. RegTech enables businesses and organisations to meet regulatory challenges through the use of digital solutions. RegTech is a contraction of the words “regulatory” and “technology”. It is used to describe digital products and services designed to ensure compliance with legal requirements, and is known in particular from the financial sector. This creates a huge potential for automating and optimising processes, particularly in compliance, which for many businesses is associated with an extensive resource strain.