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Bhurat, Nehal Dinesh (2024) The Impact of Regulatory Technology Innovations on Compliance Costs for SMEs: An Analysis of Industry Competitiveness. Masters thesis, Dublin, National College of Ireland.
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Abstract
Regulatory Technology (RegTech) is evolving at pace and offers a powerful lever for how Small to Medium Enterprises (SME's) can effectively manage regulatory requirements in an environment where they are growing increasingly complex. In this research we study the effects of RegTech adoption on compliance costs in SMEs, filling compliance reports, technical barriers of adoption of RegTech and also benefits of RegTech within financial industry. The research combines a mixed-methods approach, integrating quantitative structured survey data and qualitative thematic analysis to show that SME users of RegTech solutions have seen large compliance cost reductions typically between 20-25%. The results also depict the role of RegTech has increased the operational efficiency, more accurate regulatory reporting and lower penalties for noncompliance. Nevertheless, the report highlights significant hurdles for RegTech adoption which includes high costs of implementation, lack of technical skills and technical infrastructure matters that prove even more challenging for smaller businesses. Nevertheless, RegTech has to be focused more to enhance compliance and help ensure a level playing field among industry participants, the lack of awareness around these technologies underscores an important area where more can be done by policymakers and their partners on-the-ground in supporting SMEs to seize this potential. This research is part of a wider collection of knowledge on RegTech which could provide valuable insights into what RegTech can do to redefine compliance management for medium and small enterprises.
| Item Type: | Thesis (Masters) |
|---|---|
| Supervisors: | Name Email Del Rosal, Victor UNSPECIFIED |
| Uncontrolled Keywords: | RegTech; SMEs; compliance costs; financial technology; regulatory compliance; operational efficiency; adoption barriers; industry competitiveness |
| Subjects: | H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HG Finance > Fintech T Technology > T Technology (General) > Information Technology > Fintech H Social Sciences > HD Industries. Land use. Labor > Small Business Sector |
| Divisions: | School of Computing > Master of Science in FinTech |
| Depositing User: | Ciara O'Brien |
| Date Deposited: | 02 Aug 2025 13:30 |
| Last Modified: | 02 Aug 2025 13:30 |
| URI: | https://norma.ncirl.ie/id/eprint/8415 |
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