61 calls were up by 30 % after three weeks starting March 16 . Thus , banks and other financial service institutions will be keen to rely on RegTech for robust regulatory systems to monitor market activity and swiftly act on noncompliant or fraudulent transactions .” In addition “ with changing regulatory scenarios such as the GDPR and evolving compliance requirements , incumbents have been exploring ways to adapt in real time . This has led to a proliferation of RegTechs and the increasing interest in firms specialising in regulatory and compliance solutions . This trend is now accelerated due to COVID-19 , with executives of financial service firms feeling that risk and compliance are the most important focus areas post COVID-19 for sustainable business growth ( 67 %), indicating the importance of identifying threats and being prepared to ensure business continuity .”
businesschief . asia