The rate of change from last year to the present for regulatory technology (RegTech) is ramping up, says David Zelinger, head of professional services, North America, for SmartStream, which won Best RegTech Solution for 2018 via the FTF News Technology Innovation Awards.
“I think what we’ve seen is a ramping up of the trends that we saw going back to 2007, to the financial crisis and the original inception of Dodd-Frank,” Zelinger says. “As more and more prudential regulators around the world have come to realize that it is important that they stay in sync with the global regulatory environment, in order to prevent one of our great fears, which is regulatory arbitrage, I think we’ve seen that rate of change ramp up.”
The industry has learned a few things as RegTech offerings have hit their stride.
“The lucky part is that I think there are important lessons that have been learned by the regulations that have already been put out there,” Zelinger says. “And a lot of the newer ones are staying in line, which is making it a little bit easier for the industry but unfortunately not quite easy enough yet.”
The video interview with Zelinger took place during the FTF Awards gala celebration in Manhattan this past June.
CREDITS:
Video Production: Janene Knox and William J. Poznanski, Jr.
Interview conducted by: Eugene Grygo, chief content officer, FTF News
Co-Producers: Sarah Hathaway, vice president, Financial Technologies Forum (FTF) and Eugene Grygo