RegTech in Japan
An opportunity for Swiss Companies
The Japanese government pushes for the quick implementation of RegTech services and products.
This impulse is backed by all major financial institutions, that see in RegTech and FinTech key solutions to address systemic hurdles holding back the national economy and generate high costs.
A quick implementation of RegTech services and products is one of the major goals of the Japanese government in order to create the necessary environment for the adoption of more effective FinTech services and improve international competitiveness of Japan as place to invest and do business.
All major public and private actors agree that IT literacy and education is key to spreading the adoption and use of RegTech tools, among the public and private sectors but also large and small business as well as taxpayers.
Some examples of RegTech solutions that are needed:
- Cashless payment solutions
- Big Data solutions
- AI tools to assess compliance and risk exposure
- IT tools to improve compliance with domestic and international regulations (money laundering, data security)
- Digitization tools
- Tools simplifying ID check
- Improvement of cybersecurity and tools protecting user data and their privacy
- Platforms allowing individual and business taxpayers to provide information online or request information and certificates (similar to the federal portal EasyGov and similar cantonal solutions in Switzerland)
Let’s talk about your RegTech business in Japan. We open doors for you.
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