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CS Professional · IFSCA - Regulations, Listing and Compliances · Overview of FinTech and Service Providers in IFSC

Nimbus Ledger Pvt Ltd, a start-up in GIFT City, builds software that automates KYC checks and transaction monitoring for banks so that they can meet their regulatory reporting obligations more cheaply. Which emerging FinTech category best describes its offering?

The firm offers RegTech. RegTech uses technology to automate regulatory compliance tasks such as KYC checks, transaction monitoring and reporting for regulated entities. The other options concern insurance innovation or fund-raising platforms, which do not describe compliance automation.

  1. ARegTechCorrect
  2. BInsurTech
  3. CPeer-to-peer lending
  4. DCrowdfunding platform

Explanation

Technology that helps regulated entities meet compliance, KYC, monitoring and reporting requirements efficiently is called RegTech. InsurTech relates to insurance innovation, while P2P lending and crowdfunding are fund-raising platforms and are not compliance automation.

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