What Is Regtech? Has The Time Come For Its Implementation Into Our Legal Landscape?

In Mauritius, the period starting from the outbreak of the COVID-19 pandemic has witnessed a remarkable increase in the regulatory landscape, especially as regards the promotion of technology, artificial intelligence and other fintech applications, whether as a necessary means to revisit the way we do business in line with international development or simply in our quest to establish the new normal which the COVID-19 pandemic has admittedly triggered. The time has now come to explore some of the other possibilities which technology such as advanced analytics and machine learning offer.

In this regard, regulatory technology, better known as 'RegTech', becomes particularly pertinent. In brief, RegTech refers to the technology which helps companies deal with their regulatory processes, including compliance matters.