regtech
REG-tek
ˈrɛɡtɛkListen
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Syllable breakdown
Dictionary meaning
a category of technology-enabled solutions that help financial institutions and regulated businesses comply with regulatory requirements more efficiently and accurately than manual processes; encompasses automated transaction monitoring for anti-money laundering and know-your-customer compliance, real-time regulatory reporting, AI-driven fraud detection, digital identity verification, and tools for managing regulatory change across jurisdictions; regtech has grown rapidly in response to the intensification of financial regulation following the 2008 global financial crisis and the increased complexity of cross-border compliance obligations in digital financial services
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