Regtech doesn’t kill compliance jobs; it complicates them

Before applying regulatory technology, which is supposed to simplify working processes and save costs, banks must first have compliance officers who understand how it works.

Regtech doesn’t kill compliance jobs; it complicates them

Across most of the financial sector, compliance has been the only department growing in the years since the financial crisis of 2008. That's no surprise, given banks have since paid about $321 billion in fines over failures to identify and address money laundering, market manipulation and terrorist financing, among others, according to Boston Consulting Group.

But the surge in the number of compliance officers has also added to the pressure on the bottom line of...

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