What Percent of Financial Services’ IT Budgets Are Devoted to Regulatory Technology?

• As of 2017, the cost of regulatory compliance is equal to 14.3% of IT budgets on average
• That’s a 30% increase in compliance costs over the last 6 years
• The regtech market’s compound annual growth rate is 25% through 2023, growing to revenues of $7.2 billion
• Solution categories in the regtech market include:

• Data management
• Reporting
• AML/KYC
• Risk management
• Records management
• Change management
• Governance

• More than $9 billion was invested in regtech firms between 2014 & 2018
• In 2018 alone, $4.5 billion was invested in reg tech firms
• The bulk of the regtech investments have been in the AML/KYC space

What is the settlement-gap?

The settlement gap - the delay between a payment being made and it reaching its destination, or, put simply, the inability of a platform to facilitate instant payouts is a real problem for the gig-economy. Cash-in-hand transactions are a major factor in trade services. Without the ability to digitally replicate them, gig-economy platforms do not necessarily add enough value and incentive to ensure loyalty from their users.

Read more HERE.

The role of the Bank of England - Part 5: The Money Go Round

Keeping on an even keel: the role of the Bank of England is a short film that uses nautical metaphors and animation to explain the Bank's roles and responsibilities in an accessible, imaginative and entertaining way. The film is divided into seven short modules, which provide a simple guide to the Bank's monetary policy and financial stability roles.

They explain why low inflation and a safe and stable financial system matter to the UK economy and how the Bank contributes to achieving them.