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⍰ ASK How did the growth of regtech solutions impact compliance within electronic payment institutions in the United States?

Regtech, or regulatory technology, really changed things for compliance in electronic payment institutions in the U.S. These solutions use fancy tech like AI and data analytics to make compliance monitoring, reporting, and risk management smoother.

Due to regtech, electronic payment institutions can deal with complicated rules more efficiently, making sure they stick to the ever-changing compliance requirements. These tech tools automate tasks like checking identities, monitoring transactions, and reporting, making it easier than doing everything manually.

Regtech joining the scene has made compliance activities more accurate and timely. This have helped electronic payment institutions spot and deal with risks better by using data-driven insights. Regtech takes a proactive approach to compliance, making sure institutions stay on top of any rule changes.
 

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