Global FinTech Guide
Country Name
Costa Rica
RegTech and compliance management
RegTech is composed of the words “regulatory” and “technology”. It is a collective term for the application of modern technologies, to get the increasing regulation in the banking- and financial sector under control both from an IT and a legal standpoint.


Attitude of the country towards RegTech-services

The attitude towards RegTech is positive. However, general, and well-known concerns can be cited, such as those against digitisation and the use of artificial intelligence, both of which are key drivers in the RegTech market.

Moreover, the success of RegTech solutions heavily depends on the structuring of banks operating models and their affinity to change current models which seems to tilt towards transformation of new technologies. 

Legal affairs  

Obligations and requirements to provide RegTech-services

RegTechs are not subject to an authorisation requirement themselves, because their business model consists of helping in handling the compliance with the growing regulation in the banking area.

Additional comments regarding the legal situation for RegTech-services or what RegTech’s must be aware of in this business area


Economic conditions

Market size for RegTech-services and biggest companies in this business area

We do not have current numbers regarding the market for RegTech sector.  

Additional comments regarding the economic situation for RegTech-services or what RegTech’s must be aware of in this business area




© 2022, Lexincorp Central American Law Firm. All rights reserved by Lexincorp Central American Law Firm as author and the owner of the copyright in this chapter. Lexincorp Central American Law Firm has granted to Multilaw non-exclusive worldwide license to use and include this chapter in this guide and to sublicense Lexis Nexis, a division of RELX Inc. and its affiliates certain rights to use and distribute this guide.

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.


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