Suade featured in The City of London Corporation’s RegTech success stories

Diana Paredes, CEO of Suade, addresses impact of rising UK interest rates on RegTech and calls for increased government support

In a recent report by The City of London Corporation, our CEO, Diana, highlighted the significant challenges facing the RegTech sector amidst the rising UK interest rates.

Diana noted:

"The recent increase in UK interest rates to 4.5% is significantly impacting the FinTech industry, including RegTech, particularly in terms of the availability of funding. As the cost of borrowing rises, many RegTech firms, especially start-ups and scale-ups, are finding it increasingly difficult to secure the necessary funding."

Diana also emphasised that despite these challenges, governments around the world are recognising the value of RegTech solutions. She pointed to examples from Australia and Singapore, where governments have provided financial support to stimulate RegTech development.

"This global trend towards supporting regulatory technologies indicates a positive shift that could potentially be mirrored in the UK."

she added.

Her insights underscore the need for increased government support and investment in RegTech to foster innovation and ensure the continued growth of the industry in the face of economic challenges.