The total value of money laundering is estimated at 2 to 5% of global GDP. That works out to about $800 to $2,000 billion a year. Banks are groaning under the burden of increasing regulatory pressure. Unsuspecting consumers bear the costs in the form of higher rates and a stripped-down service. The way out of this cycle of more regulation and more costs is through regulatory technology.
In the report 'Top trends in Regtech: How regulatory technology is changing the financial sector', Hyarchis talks about the five most important trends within this fast-growing regtech domain.
Find out more and download the full report here.