Jeff Yastine Encourages Startup Companies to Implement Regtech Technology
When a company starts growing, it starts introducing structures such as hiring more personnel. Establishing these boundaries means that the organization cost of conducting business increases. As a result of the increased cost, the share price of the company at the stock market falls. However, there has been an introduction of a new technology called Regtech that helps handle a company’s business. Regtech is software, which is more advanced to the level of artificial technology that allows a company reduces its cost of operation. Brai & Co has identified various organizations that could benefit from the use of the technology. The businesses identified are failing regarding compliance with insurance and banking, and Regtech could boost the company’s profits. Jeff Yastine gives his thoughts about the need for startup companies to implement the software.
The companies chosen to use the technology are new and will benefit significantly in future from the software. A recent article by the Lets Talk Payments, by a website that handles financial matters, indicates that the cost of compliance is already high and will continue to increase with the incoming years. It would be best to start using Regtech to minimize these costs. The bank noticed that most of the paper works if not reviewed carefully, leads to the creation of accounts for money laundering. It’s against the banking regulations to allow any form of laundering .following through the rules by computing all the information in a bank would take more than two years and a significant cost. However, Regtech takes online three months with only 1/10 of the initial expenses when applied for such duties.
The costs of implementing the banking Plethora regulations are estimated to affect the HSBC and Deutsche Bank. Regtech offers the right solution regarding cutting these costs. With the compliance required in the banking world, most of the companies will run towards implementing the technology. The demand for the Regtech makes it a suitable investment opportunity.
Jeff Yastine works for Banyan Hill publishing in the editorial department. Jeff writes weekly columns in which he helps his readers to identify business opportunities and capitalize on them. His sovereign investor column enables the investors to comprehend the business, economic and monetary trends. He has extensive experience in the stock market and financial journalism. Jeff is famous for his prediction on the fall of the dot.com industry and the real estate in the early 2000s. He has received nominations for the Emmy awards due to the investigative journalism of America’s infrastructure.