Jeff Yastine, the editor of Total Wealth Insider, is one of the most optimistic people about the future of the technology. In his recent article, he was quick to remind his readers that technology is on the rise and change is inevitable. He challenged his readers to think how disruptive technology has often changed the way businesses operate. Technology is an unstoppable force, and it is important if people embrace it. He said that with the advancement of technology, there come new rules for business.
Regtech according to Jeff Yastine is a great investment opportunity which most people are yet to discover. It is the use of advanced tools artificial intelligence and blockchain technology. Such technology can be employed by organizations for the purposes of decreasing regulatory costs. The global management consulting company recently acknowledged over 80 companies being referred to as “emerging regtechs.” There are lots of indications that the services and products of these upcoming companies are slowly gaining entry into highly regulated sectors of the economy such as insurance companies and banks.
It is also important to note that most of these companies are still privately owned and their names are still unpopular in the tech-business industry. The good news is that there are high chances of growth for these companies regardless of whether they are private or publicly owned hence presenting investors with an opportunity to pump in more money and reap the benefits.
The Price of Fulfilling Regulations
Fulfilling regulations always comes with costs. Financial institutions often require an individual to sign some forms whenever they open a new bank account or seek to change information in their existing account (s). The main reason for such regulations is to curb money laundering and corrupt activities. The cost of fulfilling all these regulations and at the same time maintaining compliance can cost a company up to $10, million. However, with regtech technology, such costs can be reduced down to about $300,000.
Jeff Yastine is currently the editor of Total Wealth Insider. He has also worked with Banyan Hill Publishing in 2015 where he served as an editorial director. Jeff Yastine has over two decades experience in stock market investment as well as financial journalism. Since he joined Total Wealth Insider, he has written many inspiring stories and attracted a large following of readers. His experience, especially in the tech world and business industry, gives him a clear insight into a plethora of current and future trends.