We've included RegTech as a topic because it plays such a vital role for FinTechs. A key competitive advantage for FinTechs is their ability to assemble financial products rapidly and bring them to market. However, regulatory compliance can provide a brake to this process. Established financial service providers such as the Tier 1 and 2 banks spend vast sums of money maintaining their regulatory compliance. Here, FinTech challengers have a competitive advantage because of their digital first heritage and ability to integrate and exploit Software-as-a-Service (SaaS) compliance solutions.