The extreme profit potential of a new sector of the technology industry has Jeff Yastine excited to write about it for the readers of his financial newsletter, Total Wealth Insider.
It’s not the Internet of Things or Virtual Reality. But it’s huge, and rapidly getting bigger. Yet you won’t hear about it from the mainstream business media because it’s not “sexy.” It’s called regulatory technology, or regtech. It’s companies used advanced technologies such as blockchain and Artificial Intelligence to keep up with government regulation. Therefore, they can keep up with all changes in a cost-effective way so they can supply that information to their customers.
In the financial sector, complying with laws and regulations is an onerous burden for banks. In the United States, making sure banks know their customers and report their transactions and keep proper records costs $10 million. In Europe, the cost is even greater. According to HSBC and Deutsche Bank, it’s $1 billion. Yet a good regtech company will perform those services for just $300,000. The Office of the Controller of the Currency in the United States has suggested giving some regtech companies access to a special national bank charter, giving them bank-like authority. Regulators like these regtech companies because they speak the same language and have a common goal, keeping banks compliant. It’s more cost-effective for banks and other institutions to outsource their compliance than to use in-house resources to keep up with every change in the regulations and every court ruling.
In addition to Total Wealth Insider, Jeff Yastine writes for Winning Investor Daily and Sovereign Investor Daily, both also from Banyan Hill. He graduated from the University of Florida in 1986, receiving a Bachelor of the Arts in Telecommunications. He spent 17 years as a correspondent for PBS Nightly Business Report. That gave him access to the business success and investing secrets of some of the wealthiest people in the world, including Sir Richard Branson, Michael Dell and Warren Buffett. His reporting uncovered such successful opportunities as the turnaround of major banking stocks and small stocks poised for major growth. He found additional investing opportunities in the big box store retail sector and pharmaceuticals. He witnessed the handover of the Panama Canal and visited Cuba to learn how foreign investment was changing the economy there.
Before taking his current position with Banyan Hill, he worked as Editorial Director for the Oxford Club and covered financial newsletters for Newsmax Media. Read more:https://banyanhill.com/expert/jeff-yastine/