Regtech: Cambridge Centre for Alternative Finance Launches New Regulatory Benchmarking Survey

The Cambridge Centre for Alternative Finance (CCAF), the leading research institute for all things Fintech,  has launched its first survey of Regtech (regulatory technology) and Suptech (supervisory technology) firms. The new report is being completed in partnership with EY Japan.

CCAF states that fieldwork is now in process. The objective of the new study is to create an “evidence-based taxonomy of Regtech firms,” and to then produce benchmarking data for Regtech firms to use as a measure. CCAF expects to publish the report in the first half of 2019.

The Global Regtech Benchmarking Survey is now live, and the CCAF invites Regtech leaders to respond.

CCAF’s series of Alternative Finance surveys is now in its fifth year. CCAF covers the panopoly of online capital formation, as well as other categories of Fintech such as blockchain and cryptocurrency. CCAF recently published its 2nd global cryptoasset survey.

Emmanuel Schizas, Lead in Regtech & Policy at the CCAF, says that Regtech and Suptech are critical if the pace of industry and regulatory change is to be made manageable.

“This type of benchmark survey will help accelerate the conversation by establishing a common language around the sector.”

CCAF states that research sponsor EY Japan has been actively and closely working with many government and private sector stakeholders to develop the environment underpinning regtech innovation globally.

EY Japan explains that market regulations have become more complex and market participants are increasingly looking to incorporate innovative technology to comply with regulations.

In a public statement, EY Japan said:

“… we face a gap where traditional regulations are not corresponding to new operations. EY Japan has great hopes for advanced technologies and the contribution they can make to regulatory compliance; we believe that government and the private sector can cooperate successfully to implement innovative solutions. And we are confident that this research will contribute to and help advance the technology-driven disruptive innovations currently evolving worldwide. We look forward to the survey findings assisting key players in the regtech ecosystem, including regulated entities, regulators and innovative technology startups, in driving breakthrough innovation.”

CCAF is also working with Regtech industry leaders such as Ben Richmond, CEO at the International RegTech Association (IRTA), said:

“This initiative supports the IRTA’s goal of enabling global collaboration and connections to advance the market development and adoption of regtech. It will provide ITRA members with an opportunity to help shape a much-needed global taxonomy of solutions and educate industry and policymakers on regtech use cases. We support the work that academics and advisory firms are putting into this and we particularly welcome the CCAF’s research.”

Deborah Young, Chief Executive of the RegTech Association (RTA), added that they welcome this global Regtech data collection program.

“This is consistent with our goal of accelerating regtech adoption and creating a global centre for excellence through fostering closer collaboration between regulators, regulated entities and Regtech firms.” 

Dr Sian Lewin, Head of Client Delivery at specialist advisory firm RegTech Associates and Founder of RegTech Women, stated:

“We welcome this research into the fast-growing regtech industry and see this project as complementary to the work we have done in the RegTech Directory to map and categorise the many regtech products that are currently available globally. We believe this sort of independent research is vital to separate the signal from the noise and hype in the regtech industry. It will hopefully bring needed clarity about regtech to financial institutions, regtech firms and regulators.”

Related: Cambridge Centre for Alternative Finance Publishes Definitive Global Cryptoasset Benchmarking Report

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