INDUSTRY OUTLOOK
COMBATING FINANCIAL CRIME WITH REGTECH
RegTech is still in the early adoption stage in South Africa . However , it is essential to the fight against cybercriminals in the country . Luke Machowski , Head of Regulatory Products at Synthesis , speaks to us about financial crime in the country and how this new technology is slowly combatting it .
RegTech in South Africa is an emerging and dynamic industry with new regulations being consistently added and the need for compliance being more important than ever . With the recent Greylist announcement of South Africa , by FATF , compliance with international standards and regulations cannot be ignored . Understanding the automation of regulations through personalised payment systems is the best way to alleviate the compliance anxiety of businesses within the financial sector .
During the FinTech Summit 2022 , a panel discussion was held to discuss South Africa ’ s current RegTech trends , challenges , opportunities and what we can look forward to in the future within this space . Luke Machowski , Head of Regulatory Products at Synthesis , was part of the panel discussion addressing www . intelligentfin . tech
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