Buzzwords such as ‘fintech’ and ‘regtech’ are routinely bandied around today’s financial services industry, but to many their exact meaning is unclear. Is the industry changing so radically that the human component is to be extinguished by technology? What is the future of the compliance function, and in particular the chief compliance officer?

In the face of such rapid change, trying to predict what the compliance function in banks will look like in five years’ time requires an even larger than normal crystal ball, but we can see some trends, and make some predictions.