usiness in the Philippines and data privacy compliance. We are not aware of any significant developments on this field apart from this.
Additional comments regarding the economic situation for RegTech-services or what RegTech’s must be aware of in this business area
Like other jurisdictions, cost of compliance is on an upward trend and many companies are looking at technologies that will help streamline this process. There are also initiatives to ensure more efficient and faster service delivery in the field of FinTech and FinTech companies are looking at technology to ensure that the regulatory requirements for onboarding customers and approving transactions are completed quickly.