Document Type : Research Paper


1 PhD in Public Law, University of Tehran, Kish International Campus, Iran

2 Department of Management, Faculty of Humanities and Social Sciences, University of Kurdistan, Sanandaj, Kurdistan

3 Master of Business Administration (MBA), K. N. Toosi University of Technology, Tehran, Iran



Regtech is an emerging concept that has created a great revolution in the field of financial services in recent years, so many financial organizations and institutions around the world are now seeking to coordinate and use it. Today, a significant number of start-ups in the field of Regtech have been born in the world that use new technologies such as: data mining,, machine learning, cloud computing, artificial intelligence, block-chain, etc. in this field. In this research, first the scientific concept of Regtech and its history were examined and then the goals, advantages and disadvantages, solutions, opportunities, trends and possible challenges of this important and instructive technology that will be placed in the way of users and financial market participants, was studied. In the present study, using the method of systematic review of theoretical foundations, 25 selected scientific research papers in the field of Regtech were collected and analyzed. Regtech solutions use new innovative and advanced technology methods such as machine learning, robotics, artificial intelligence, data mining, blockchain, application programming interfaces, cloud computing, service-oriented architecture and visualization solutions that can be faster, more accurate and less expensive in Regulatory. machine learning, robotics, artificial intelligence, data mining, blockchain, application programming interfaces, cloud computing, service-oriented architecture and visualization solutions that can be faster, more accurate and less expensive in Regulatory.


  • Von Solms, J.; “Integrating Regulatory Technology (RegTech) into the digital transformation of a bank Treasury”, Journal of Banking Regulation, Vol. 22, No. 2, pp. 152-168, 2021.
  • Yang, Y. P.; Tsang, C. Y.; “Regtech and the new era of financial regulators: envisaging more public-private-partnership models of financial regulators”, Pa. J. Bus. L., 21, p. 354, 2018.
  • Gomber, P.; Kauffman, R. J.; Parker, C.; Weber, B. W.; “On the fintech revolution: Interpreting the forces of innovation, disruption, and transformation in financial services”, Journal of management information systems, Vol. 35, No 1, pp. 220-265, 2018.
  • Pantielieieva, N.; Khutorna, M.; Lytvynenko, O.; Potapenko, L.; FinTech, RegTech and Traditional Financial Intermediation: Trends and Threats for Financial Stability. In Data-Centric Business and Applications, pp. 1-21, Springer, Cham, 2020.
  • Valkanov, N.; “RegTech and SupTech–the High-tech Innovations in the Field of Financial Regulation”, Izvestia Journal of the Union of Scientists-Varna. Economic Sciences Series, Vol. 7, No. 2, pp. 44-54, 2018.
  • Kurum, E.; “RegTech solutions and AML compliance: what future for financial crime?”, Journal of Financial Crime, 2020.
  • Tammas-Hastings, D.; “The exploding popularity of RegTech”, LSE Business Review, 2017.
  • Anagnostopoulos, I.; “Fintech and regtech: Impact on regulators and banks”, Journal of Economics and Business, Vol. 100, pp. 7-25, 2018.
  • Ivanoski, J.; Bailey, D.; Walters, M.; Vazirani, J.; “The transformative power of regtech”, Frontiers in Finance: For decision-makers in financial services, Vol. 57, pp. 14-17, 2017.
  • Zhentao, Y.; Yunpeng, F.; “The Theoretical Basis, Practical Application and Development Suggestions of RegTech”, Intelligent Systems in Accounting Finance & Management, Vol. 27, No. 4, pp. 161-167, 2019.
  • Mohaghar, A.; Saghafi, F.; Mokhtarzade, N.; Azadegan-Mehr, M.; “Anticipating Technological Transition Path in Iran's Financial Sector Based on MultiLevel Perspective”, Journal of Science & Technology Policy, Vol. 11, No. 4, pp. 77-98, 2020. {In Persian}
  • Arner, D. W.; Barberis, J.; Buckley, R. P.; “FinTech and RegTech in a Nutshell, and the Future in a Sandbox”, Research Foundation Briefs, Vol. 3, Issue 4, 2017.
  • Schizas, E.; McKain, G.; Zhang, B. Z.; Garvey, K.; Ganbold, A.; Hussain, H..; Yerolemou, N.; The global regtech industry benchmark report, 2019.

Available at SSRN 3560811

  • Packin, N. G.; “Regtech, Compliance and Technology Judgment Rule”, Chicago-Kent Law Review, Forthcoming, Baruch College Zicklin School of Business Research Paper, Vol. 93, Issue 1, pp. 192-218, 2017.
  • Ali, O.; Osmanaj, V.; “The role of government regulations in the adoption of cloud computing: A case study of local government”, computer law & security review, No. 36, 105396, 2020.
  • Arner, D. W.; Zetzsche, D. A.; Buckley, R. P.; Barberis, J. N.; “FinTech and RegTech: Enabling innovation while preserving financial stability”, Georgetown Journal of International Affairs, pp. 47-58, 2017.
  • Kavassalis, P.; Stieber, H.; Breymann, W.; Saxton, K.; Gross, F. J.; “An innovative RegTech approach to financial risk monitoring and supervisory reporting”, The Journal of Risk Finance, 2018.
  • Godwin, A., Steele, S., & Yang, D. (2020). “RegTech Innovation and Cooperation–Australia and China Compared”. Australian Journal of Asian Law, 21(1).
  • Freij, A.; “Using technology to support financial services regulatory compliance: current applications and future prospects of regtech”, Journal of Investment Compliance, 2020.
  • Arner, D. W.; Barberis, J.; Buckley, R. P.; RegTech: Building a better financial system, In Handbook of Blockchain, Digital Finance, and Inclusion, Vol. 1, pp. 359-373, Academic Press, 2018.
  • Chang, Y.; Hu, J.; “Research on Fintech, Regtech and Financial Regulation in China—Taking the “Regulatory Sandbox of Beijing Fintech Pilot as the Starting Point”, Open Journal of Business and Management, Vol. 8, Issue 1, pp. 369-377, 2019.
  • Fink, A.; Conducting research literature reviews: From the internet to paper, Sage publications, 2019.
  • Seuring, S.; Müller, M.; “From a literature review to a conceptual framework for sustainable supply chain management”, Journal of cleaner production, Vol. 16, Issue 15, pp. 1699-1710, 2008.
  • Okoli, C.; “A guide to conducting a standalone systematic literature review”, Communications of the Association for Information Systems, Vol. 37, No. 1, p. 43, 2015.
  • Weber, R. H.; “Regtech as a new legal challenge”, Journal of Financial Transformation, No. 46, pp. 10-17, 2017.
  • Miglionico, A.; “Automated regulation and supervision: the impact of RegTech on banking compliance”, European Business Law Review, Vol. 31, Issue 4, 2020.
  • Johansson, E. L. L. I. N. O. R.; Sutinen, K. O. N. S. T. A.; Lassila, J. U. L. I. U. S.; Lang, V. A. L. T. E. R.; Martikainen, M. I. N. N. A.; Lehner, O. M.; “Regtech-a necessary tool to keep up with compliance and regulatory changes”, ACRN Journal of Finance and Risk Perspectives, Special Issue Digital Accounting, No. 8, pp. 71-85, 2019.
  • Soltani, B.; Shaverdi, M.; “Science, Technology and Innovation Financing”, Journal of Science & Technology Policy, Vol. 11, No. 2, pp. 297-314, 2019. {In Persian}.