28 Apr '17, 4pm

RegTech for #Fintech May Be the Next “Big Thing” in the #Bitcoin and #Blockchain Space https://t.co/5uFPY1dAT7

Coinfirm estimates that RegTech can reduce compliance costs for financial services companies by as much as 50 percent. RegTech may be “the next big thing” in fintech as digital currency and blockchain startups bump up against new government regulations, resulting in an increase in the demand for legal compliance information that will help companies navigate regulatory requirements and conduct risk assessments. Banks and other financial institutions are also looking for cost-effective ways to assess the risks of using new blockchain technologies in different jurisdictions and to modify their practices to minimize increasing compliance costs. Accenture estimates that business compliance costs could drop by 30 to 50 percent at the product level with the use of a blockchain database. In its recent news release , Coinfirm estimates that companies can save as much as 50 percent ...

Full article: https://bitcoinmagazine.com/articles/regtech-fintech-may-...

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