Meaning ● SMB Regulatory Technology refers to the suite of technological tools and platforms designed to assist small and medium-sized businesses (SMBs) in efficiently navigating and adhering to relevant legal and industry regulations.
Scope ● Within the context of SMB growth, automation, and implementation, these solutions provide automated compliance monitoring, reporting, and risk assessment capabilities. These help ensure SMBs maintain operational integrity and avoid costly penalties. Regulatory technology allows streamlined processes and reduces the burden of manual compliance efforts, contributing to faster scaling and expansion within the SMB landscape. For growing SMBs, RegTech solutions are a critical piece of automated business function which allow resources to be focused on new business opportunities, rather than laborious monitoring. The goal is also ensuring that all automated reporting can be accomplished with very little business interruption or additional overhead cost and allow compliance information to be seamlessly and accurately incorporated into reporting for outside entities. By implementing targeted RegTech systems, SMBs enable faster decision-making with greater business intelligence, while maintaining compliance.
