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Part 1: RegTech Fundamentals (40 Marks) 1. Define RegTech and explain its significance in the financial industry. 2. Discuss the key challenges faced by financial

Part 1: RegTech Fundamentals (40 Marks)

1. Define RegTech and explain its significance in the financial industry.

2. Discuss the key challenges faced by financial institutions in meeting regulatory compliance requirements.

3. Explain how RegTech solutions address these challenges and enhance compliance processes.

4. Describe at least three RegTech technologies commonly used in the financial sector and elaborate on their functionalities.

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