The pandemic has severely crushed some sectors such as aviation and tourism, with seemingly no opportunity for getting back on track anytime soon. Hence, it is not surprising that everyone who is in the workforce in any sector wonder what will be the future of mine?
RegTech is one area that appears not just to survive but gain momentum with the current turn of events. The pandemic exposed a vulnerability, how industries depend on a workforce that needs to be physically present in a given location. Most of them never really having attempted exploring the option of having a mix of employees working virtually for any number of reasons such as accountability, productivity or security. Thus, the situation could potentially drive a paradigm shift in this regard. The same would apply to the financial sector as well. And that would mean more regulations would have to in place, which in turn would mean more opportunities for RegTech firms.
So, it is high time the companies in the RegTech space gear up for providing their services to a customer base that is about to expand exponentially in the near future.
