In the Irish Times FinTech Focus Special Report, Keith Pyke, Director of Solutions at MCO, discussed how the volume, velocity and complexity of regulatory change are driving demand for RegTech. Expanding frameworks including MiCA, PSD3, DORA and the EU AI Act are outpacing manual processes and separate systems across jurisdictions and regulated areas of compliance.
Why Is RegTech Becoming Essential Infrastructure?
Pyke explained that the only way to manage compliance across jurisdictions at scale is through centralization. Firms need a single control framework that maps regulatory obligations to policies, workflows and controls and keeps that mapping current as regulations evolve. Bringing data, processes and recordkeeping together gives compliance teams a consistent view of risk and makes it easier to evidence how obligations were interpreted, controls were applied and outcomes were reached.
He also addressed the governance of AI in compliance. When AI influences decisions, firms need transparency, accountability, human oversight and evidence of how outputs are reviewed and challenged. Pyke said Ireland’s position within the EU, relationship with the Central Bank and talent base across technology and financial services provide a strong foundation for serving the wider European market as regulatory frameworks mature.
Read the full article: The Irish Times