Regulatory Technology

The Productivity Commission have published an interesting information paper that may be relevant to compliance in the childcare sector. Regulatory technology (‘regtech’) is the use of technology to better achieve regulatory objectives. For instance, regtech has been used by businesses to assess their regulatory obligations and fulfil regulatory requirements faster and in a manner that is more integrated with their other business processes. It can also be used by regulators to support a risk-based, outcome-focused, approach to compliance.