Table 10.

Summary of studies on how RegTech supports digital finance and its challenges

Digital financeRegTech rolesAcademic and gray literature addressing the issue
Digital financeEnhances digital financial services by providing real-time data to map financial accessIn total 14 studies: G11; G28; A3; A4; A5; A6; A7; A19; A20; A22; A24; A26; A27; A28
Green financeAssists in offering green loans and providing sustainable investment fundsIn total 10 studies: G1; G5; G9; G12; G14; G17; G22; A7; A20; A22
Financial inclusionImproves access to financial services using alternative data. Supports financial inclusion for individuals and small and medium-sized enterprisesIn total 22 studies: G5; G6; G7; G11; G13; G14; G15; G16; G18; G21; G22; G23; G24; G26; G28; G29; A2; A6; A7; A24; A20; A29
ChallengesFailures in IT systems, algorithmic bias, compliance challengesIn total seven studies: A27; A28; G13; G16; G18; G19; G29
Source(s): Authors’ own creation
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