RegTech on the rise to tackle fraud
RegTech, a game changer in the fight against fraud
RegTech holds the promise to improve the ability, speed, and efficiency of financial services firms in analysing and sharing data for the purpose of detecting and reporting economic crime.
With technologies such as artificial intelligence, machine learning, robotics, distributed ledger technology and biometrics, RegTech can enable regulatory compliance to become both the sword and shield against economic crime. Such a benefit not only reduces the burden of cost and complexity, but also improve capacities of financial services firms by automating compliance processes.
RegTech is a game changer when it comes to addressing economic crime and navigating the ever-changing global regulatory landscape. As industry implements ambitious digital transformation programmes, RegTech is a new tool for all parties to improve processes, detect and prevent fraud.
RegTech, a tool for regulators and compliance
Regulators continue to invest in developing and improving their technological capabilities to support their supervisory activities and to process and analyse large amounts of data quickly and efficiently.
In recent years, regulators have taken a risk-based approach to compliance and made significant investments in their own technology tools and operations. Regulators expect firms to be proactive in detecting, preventing and remediating compliance issues and fraud threats within their own operations. RegTech has a critical role to play as the data management required to meet these expectations is costly and inefficient using manual processes alone.
To meet regulators’ requirements, financial services firms store, access and process data on a measure never previously predicted. Datasets must be deep, accurate, and their contents should be able to be cross-examined and operated with much more flexibility than before, with different potentials and for different purposes. RegTech provides not just solutions to report or monitor for regulated firms to remain compliant but also provides solutions constructed around the data.
Security analysts in large organizations receive thousands of threat alerts and notifications daily. The challenge lies in determining which vulnerabilities pose the highest risk. With RegTech’s advanced risk scoring technology and advanced analytics, each susceptibility can be attributed to a threat score and prioritised, monitored and treated before an attack occurs.
techUK has engaged with both regulators and regulated firms to unlock the value of RegTech, and tackle economic crime, and looks forward to continuing this critical dialogue.
James Challinor
James Challinor
James leads our financial services programme of activity. He works closely with member firms from across the sector to ensure innovation and technology are fully harnessed and embraced by both industry and regulators.
Prior to joining us James worked at other business organisations including TheCityUK and the Confederation of British Industry (CBI) in roles focused on supporting the financial & related professional services eco-system, with a particular focus on financial technology and market infrastructure.
- Email:
- [email protected]
- LinkedIn:
- https://www.linkedin.com/in/james-challinor-105212177/
Lourdes de Miguel
Lourdes de Miguel
Lourdes de Miguel joined techUK in January 2026 as a Junior Programme Manager in the Financial Services and SME Engagement programmes.
Lourdes supports the financial service programme’s mission of connecting firms from across the ecosystem to ensure innovation and technology can be fully harnessed by financial services. She also assists the SME team to help members meet, network and collaborate with their peers, industry leaders and customers.
Prior to joining techUK, Lourdes gained experience in research, finance, and stakeholder engagement across several organisations. Starting off at Elcano Royal Institute in Brussels, she supported seminar creation and event organization engaging with key policymakers and industry leaders developing an understanding of European policymaking. She later joined Swift, assisting the Industry Engagement team to build connections with Central Banks and other international bodies as well as developing research on macroeconomic topics.
Lourdes holds a BA (with honours) in Politics and International Studies from the University of Warwick.
Lucas Banach
Lucas Banach
Lucas Banach is Programme Assistant at techUK, he works on a range of programmes including Data Centres; Climate, Environment & Sustainability; Market Access and Smart Infrastructure and Systems.
Before that Lucas who joined in 2008, held various roles in our organisation, which included his role as Office Executive, Groups and Concept Viability Administrator, and most recently he worked as Programme Executive for Public Sector. He has a postgraduate degree in International Relations from the Andrzej Frycz-Modrzewski Cracow University.
- Email:
- [email protected]
- Phone:
- 020 7331 2006
- Twitter:
- @techUK
- Website:
- www.techuk.org
- LinkedIn:
- https://www.linkedin.com/in/lucas-banach-50139650
