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U.K. regulator setting global example in facilitating technology growth

Neil Hodge | September 10, 2018

Over the past few years, increased regulatory scrutiny, enforcement, and governance requirements within the European Union have prompted companies to dig deep and hike their compliance budgets.

While previously these increased costs have been associated with increased headcount, IT consultancy Accenture’s 2018 “Compliance Risk Study” found that this is no longer the case globally: Compliance technology transformation is the top spending priority for respondents, both over the next 12 months (57 percent) and within the next three years (51 percent) as compliance functions move toward deploying technology rather than adding more people to fulfil their mandate.

Given how new and cutting-edge FinTech and RegTech technologies can help companies digest larger volumes of data and help report information more quickly so that they can react to risks...

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