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The Rise of RegTech

26 October 2016

The marriage of technology and regulation is not a new concept but it's becoming increasingly important

‘Regulating for innovation’ may seem oxymoronic, but not according to the FCA’s Director of Strategy and Innovation, Christopher Woolard. Speaking at an FCS event in February 2016, commenting on Fintech adoption, he said:

It's a sobering reminder of the pace at which the digital landscape is evolving and the scale of the challenge for us as a regulator, to bear in mind when we think about both the risks that financial innovation may bring and how to balance that against creating unnecessary barriers to the many opportunities. 

The challenge for Woolard and his FCA colleagues is ensuring that a competitive market for financial products continues to exist when the speed of innovation is so fast.

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