Abstract
Technology promises to offer significant benefits in operating a business. At the same time, firms have major challenges in dealing with regulatory requirements. Despite this, studies of technological capabilities offer little insight into the functionality available for supporting regulatory compliance requirements. With both compliance demands and technological complexity evolving at record speed, this is an area demanding increased understanding. This paper analyses data from 107 regulatory technology solution providers for the anti-money laundry compliance field. Conclusions from the study point to a strong availability of basic capabilities for managing products, understanding end markets, and tracking linkages between actors. There is weaker support for capabilities in basic operations. Also, advanced support is less frequent, and the ability to innovate is close to non-existent. The conclusions offer tangible recommendations to practitioners and policymakers concerning the potential benefits and pitfalls of applying technology for regulatory compliance.