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Is Dublin the Regtech Hub of the Future?
Dublin is displaying the characteristics of becoming the Regtech hub in Europe. Know more!
FREMONT, CA: Regtech companies that offer technology-driven solutions are enabling enterprises in Europe to cope with extensive regulatory requirements. A number of regtech firms have come up across the region. However, the Irish capital of Dublin has displayed the potential of becoming a regtech hub. Several factors, including that of Brexit, will contribute to making Dublin a centre for regtech companies, including startups.
Evolving technologies have mandated regulatory reforms, and the EU has responded swiftly. To ensure compliance, companies are investing substantially in solutions offered by regtech, which has shown a tendency to cluster in and around Dublin. The reputation of Dublin as an international centre for financial services has led to its credibility, and service providers are flocking to Ireland in a quest to take advantage of the opportunities. Dublin has performed well overall, and in several global rankings, it has found mention ahead of other leading centres of technology.
The finance technology environment in Ireland is especially robust. The popularity of fintechs has assisted regtech firms in attracting investments easily and flourishing. The Irish financial sector enjoys an excellent reputation globally owing to its high standards of service delivery. Regtechs functioning from Dublin can thus take advantage of this repute to attract customers. Also, the concentration of leading tech giants in Dublin helps regtech companies find the expertise that fosters better business growth. Post Brexit, Dublin is poised to become the most favoured destination for companies looking to shift base.
The proximity to London and the Irish government’s supportive policies are additional benefits for regtech firms. Ireland also offers extensive assistance to business enterprises and helps drive innovations. Besides, the taxes for businesses in Ireland is substantially less when compared to that of England. Thus, Dublin is all set to become the magnet for regtech companies looking to set shop in Europe.