{"id":16251,"date":"2023-02-09T11:02:22","date_gmt":"2023-02-09T11:02:22","guid":{"rendered":"https:\/\/mapfintech.com\/?p=16251"},"modified":"2023-03-10T13:00:59","modified_gmt":"2023-03-10T13:00:59","slug":"should-firms-adopt-third-party-regtech-solutions-instead-of-building-them-in-house","status":"publish","type":"post","link":"https:\/\/complyport.com\/transaction-reporting\/should-firms-adopt-third-party-regtech-solutions-instead-of-building-them-in-house\/","title":{"rendered":"Should firms adopt third-party RegTech solutions instead of building them in-house?"},"content":{"rendered":"<p>The debate over whether firms should adopt <a href=\"https:\/\/mapfintech.com\/solutions\/\">third-party RegTech solutions<\/a> instead of building them in-house is presented in an article published in RegTech Analyst. Jonathan Hall, Regulatory Analyst at <a href=\"https:\/\/mapfintech.com\/\">MAP FinTech<\/a>, provided his insights on the topic. Jonathan notes that companies should consider a number of <a href=\"https:\/\/mapfintech.com\/reducing-compliance-costs-the-value-of-outsourcing-regulatory-reporting\/\">key factors<\/a> before taking the make-or-buy decision for RegTech solutions. First, the decision includes technology and implementation. Start-up costs, hardware, and software are involved, as well as connection fees, hosting, and development team and support.<\/p>\n<p>There is also the critical aspect of regulatory compliance that concerns multi-jurisdictions, tech standards requiring deep-dive analysis and comprehension, monitoring, and reconciliation, and staying up to date with amending regulatory requirements.<\/p>\n<p>Jonathan also pointed out that companies must weigh the higher costs of direct reporting to a TR against the cost savings available through synergies and aggregation offered by a trusted third-party provider.<\/p>\n<p>Finally, he remarks, the factor of human capital should be considered. This includes the cost of employing experienced professionals who require continued training.<\/p>\n<p>Find the full article <a href=\"https:\/\/fintech.global\/2023\/02\/06\/should-firms-adopt-third-party-regtech-solutions-instead-of-building-them-themselves\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\n<p style=\"text-align: center;\"><a class=\"maxbutton-17 maxbutton maxbutton-contact-us\" href=\"https:\/\/mapfintech.com\/contact-us\/\"><span class='mb-text'>Contact us<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The debate over whether firms should adopt third-party RegTech solutions instead of building them in-house is presented in an article published in RegTech Analyst. Jonathan Hall, Regulatory Analyst at MAP FinTech, provided his insights on the topic. Jonathan notes that companies should consider a number of key factors before taking the make-or-buy decision for RegTech solutions. First, the decision includes technology and implementation. Start-up costs, hardware, and software are involved,&#8230;<\/p>\n","protected":false},"author":5,"featured_media":16252,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[242],"tags":[],"class_list":["post-16251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Should firms adopt third-party RegTech solutions?<\/title>\n<meta name=\"description\" content=\"Should firms adopt third-party RegTech solutions or build them in-house? Jonathan Hall, Regulatory Analyst at MAP FinTech, provides his insights.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/complyport.com\/transaction-reporting\/should-firms-adopt-third-party-regtech-solutions-instead-of-building-them-in-house\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Should firms adopt third-party RegTech solutions?\" \/>\n<meta property=\"og:description\" content=\"Should firms adopt third-party RegTech solutions or build them in-house? Jonathan Hall, Regulatory Analyst at MAP FinTech, provides his insights.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/complyport.com\/transaction-reporting\/should-firms-adopt-third-party-regtech-solutions-instead-of-building-them-in-house\/\" \/>\n<meta property=\"og:site_name\" content=\"\u039c\u0391\u03a1 FinTech - Global Regulatory Reporting Provider\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-09T11:02:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-10T13:00:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/complyport.com\/transaction-reporting\/wp-content\/uploads\/2023\/02\/Third-party-regtech-solutions-article.png\" \/>\n\t<meta property=\"og:image:width\" content=\"585\" \/>\n\t<meta property=\"og:image:height\" content=\"330\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"andreas kililis\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@mapfintech\" \/>\n<meta name=\"twitter:site\" content=\"@mapfintech\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"andreas kililis\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/complyport.com\/transaction-reporting\/should-firms-adopt-third-party-regtech-solutions-instead-of-building-them-in-house\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/complyport.com\/transaction-reporting\/should-firms-adopt-third-party-regtech-solutions-instead-of-building-them-in-house\/\"},\"author\":{\"name\":\"andreas kililis\",\"@id\":\"https:\/\/complyport.com\/transaction-reporting\/#\/schema\/person\/9bd319fdae6a0267a5bc69da9db6c02e\"},\"headline\":\"Should firms adopt third-party RegTech solutions instead of building them in-house?\",\"datePublished\":\"2023-02-09T11:02:22+00:00\",\"dateModified\":\"2023-03-10T13:00:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/complyport.com\/transaction-reporting\/should-firms-adopt-third-party-regtech-solutions-instead-of-building-them-in-house\/\"},\"wordCount\":190,\"publisher\":{\"@id\":\"https:\/\/complyport.com\/transaction-reporting\/#organization\"},\"image\":{\"@id\":\"https:\/\/complyport.com\/transaction-reporting\/should-firms-adopt-third-party-regtech-solutions-instead-of-building-them-in-house\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/complyport.com\/transaction-reporting\/wp-content\/uploads\/2023\/02\/Third-party-regtech-solutions-article.png\",\"articleSection\":[\"Media\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/complyport.com\/transaction-reporting\/should-firms-adopt-third-party-regtech-solutions-instead-of-building-them-in-house\/\",\"url\":\"https:\/\/complyport.com\/transaction-reporting\/should-firms-adopt-third-party-regtech-solutions-instead-of-building-them-in-house\/\",\"name\":\"Should firms adopt third-party RegTech solutions?\",\"isPartOf\":{\"@id\":\"https:\/\/complyport.com\/transaction-reporting\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/complyport.com\/transaction-reporting\/should-firms-adopt-third-party-regtech-solutions-instead-of-building-them-in-house\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/complyport.com\/transaction-reporting\/should-firms-adopt-third-party-regtech-solutions-instead-of-building-them-in-house\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/complyport.com\/transaction-reporting\/wp-content\/uploads\/2023\/02\/Third-party-regtech-solutions-article.png\",\"datePublished\":\"2023-02-09T11:02:22+00:00\",\"dateModified\":\"2023-03-10T13:00:59+00:00\",\"description\":\"Should firms adopt third-party RegTech solutions or build them in-house? 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