Jeff Yastine Identifies A New Sector Of The Economy That Should Be Looked At By Investors

As the editorial director of Banyan Hill Publishing, Jeff Yastine oversees the financial publications that this company publishes. He also has his own financial publication called Total Wealth Insider. His specialty is finding opportunities to invest in that others have missed. He has been a financial journalist for many years and was once nominated for an Emmy in writing. When he uncovers a value stock he writes about it in Total Wealth Insider.

The latest opportunity that Jeff Yastine spotted was in a new tech sector called regtech. This sector helps companies deal with government regulation. Government oversight can be exceedingly expensive for companies to deal with, especially when it comes to the insurance and financial industries. He wrote that companies in the financial industry alone spent around $65 billion each year so that they don’t break the law. If the regtech industry didn’t exist this would rise to $118 billion or more in 2020. Read this article at stockgumshoe.com to know more about Jess Yastine

Using technology such as artificial intelligence and blockchain the companies in regtech are on the cutting edge of helping companies reduce the amount they spend complying with the rules. The companies in this sector are still pretty small companies, most of them being still startups. The names of some of these companies are Taxometry, ComplyAdvantage, and OnRule. Most are still private ventures although a few have had an initial public offering.

Jeff Yastine says that as regtech catches on companies in every industry will spend less complying with government regulations. He uses the example of banks having to confirm the identity of new customers opening a checking or savings account. This is because the government is concerned with things like identity theft and tax evasion. He says that each bank spends around $11 million a year just for this. Using a regtech company will reduce this cost to $300,000. View Jeff Yastine’s profile at LinkedIn.

The authorities in the United Kingdom, the United States, and Singapore are now making proposals that they start to cooperate with companies in the regtech industry, Jeff Yastine wrote. If these plans go through these companies will become major players before too long as thus a great investment opportunity. Watch:https://www.youtube.com/watch?v=YxGq5uBBGEA