Fraud prevention and anti-money laundering and countering the financing of terrorism (AML/CFT) are amongst the five most frequently used regtech solutions in the EU banking sector according to a new report published by the European Banking Authority (EBA).

Based on information obtained from surveys and interviews with financial institutions, regtech providers and competent authorities, the EBA analysis of RegTech in the EU financial sector assesses the overall benefits and challenges faced by financial institutions and regtech providers in the use of new technologies in regulatory environments.

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