The Rising Tide of RegTech: Insights from Tracy Moore on Compliance in Financial Services

The rage over regtech is real. In response to growing customer demands, emerging financial crime threats, and attempts by regulatory bodies to manage both of these developments, the field of regulatory compliance has never been more topical in financial services. To gain deeper insights into this evolving landscape, we spoke with Tracy Moore, a seasoned compliance expert and the Director of Thought Leadership & Regulatory Affairs at Fenergo.

Tracy Moore: A Journey Through Compliance

Tracy Moore began her career in corporate legal training, specializing in finance and treasury transactions. Her journey took her to Europe, where she transitioned into banking, spending much of her career in legal and compliance roles at global financial institutions. Upon returning to the U.S., she continued this path at a super-regional bank, gaining extensive experience in regulatory compliance and financial crime risk management.

Today, as the Director of Thought Leadership & Regulatory Affairs at Fenergo, Moore focuses on financial crime risk management, regulatory change, and digital transformation. Her work involves collaborating with global regulators, financial institutions, and technology providers to develop innovative solutions that protect the industry against financial crime. Moore is passionate about influencing industry change and driving technological advancements that make the financial sector safer and more resilient.

The Intriguing Landscape of Banking Compliance

When asked what she finds most interesting about banking compliance, Moore highlighted the fascinating interplay between geopolitical events and the global financial industry. These events not only influence regulatory frameworks but also present new challenges, such as financial crime and evolving risk landscapes.

The interconnectedness of today’s economy means that financial institutions must constantly adapt to address challenges like sanctions and emerging threats. Moore emphasized the delicate balance that financial institutions must strike: meeting regulatory expectations while driving revenue growth and ensuring safe financial services for clients. This balance requires strategic foresight, innovation, and collaboration across the industry.

A Dramatic Evolution in Compliance

Reflecting on her 25-year career, Moore noted that the evolution of banking compliance has been dramatic. In the past, compliance was often viewed as a back-office function focused on checking boxes. Today, it has become a core pillar of financial institutions, shaping everything from risk management to customer experience.

Technological advancements have played a significant role in this transformation. Major events like 9/11 and the 2008 financial crisis reshaped the regulatory landscape, pushing compliance to the forefront. Moore observed that compliance has evolved from localized, paper-based processes to a hyper-digital, data-driven, and globally interconnected approach.

Moreover, she has witnessed the growing role of diverse leadership in compliance and risk management. The field has expanded beyond traditional legal and audit backgrounds to include technologists, data analysts, and strategic thinkers, many of whom are women bringing fresh perspectives to a historically male-dominated space.

The Current Compliance Landscape: Challenges and Opportunities

Moore explained that the current landscape of banking compliance is characterized by high stakes. A mix of financial crises, evolving threats, digital disruption, and geopolitical shifts has pushed compliance to the forefront of strategic planning for financial institutions. This pressure has fueled innovation, with AI, automation, and data analytics transforming compliance processes.

These technologies reduce manual processes, improve risk detection, and enhance customer experiences. Banks can now onboard clients faster, monitor activity in real-time, and anticipate threats before they escalate. While compliance is tougher than ever, those who embrace technology can gain a competitive edge. For customers, stronger compliance translates to better security, smoother transactions, and increased trust in the system.

Navigating the Challenges of AI and Automation

While AI and automation offer significant benefits for compliance, they also introduce new challenges. Many institutions express skepticism about black-box decision-making, regulatory scrutiny, and potential biases. Moore emphasized the importance of explainability; regulators need to understand how AI-driven decisions are made. Therefore, firms must prioritize transparency, clear documentation, and strong oversight.

When used responsibly, AI can enhance risk detection, automate manual tasks, and improve compliance efficiency. The key lies in communication—working with regulators to ensure AI models are interpretable, auditable, and aligned with compliance standards.

Areas Needing More Attention in Compliance

Moore identified two critical areas in banking compliance that deserve more attention: emerging digital assets and global regulatory alignment. The rapid rise of cryptocurrencies and digital payments has outpaced regulatory frameworks, leaving financial institutions in a challenging position. Without clear, consistent guidelines, banks are hesitant to fully engage, creating uncertainty for the entire industry.

Additionally, jurisdictional differences complicate compliance in today’s global economy. Financial crime knows no borders, yet regulations often do, forcing banks to navigate a patchwork of requirements that slow down operations and increase costs. Moore advocates for more global alignment and collaboration between regulators to ease this burden.

Finally, the evolving nature of financial crime demands that compliance programs move beyond traditional rule-based approaches. Criminals are becoming increasingly sophisticated, using advanced tactics to evade detection. Compliance programs must embrace real-time, predictive intelligence to stay ahead of these threats.

Gender Diversity in Banking: Progress and Optimism

When discussing gender diversity in banking, Moore acknowledged that while progress has been made, it is not nearly enough. Diversity is often overlooked as a business advantage, despite the value it brings. In today’s complex financial environment, organizations need diverse perspectives to navigate risk and drive innovation.

Moore remains optimistic about the future of women in banking, particularly in compliance. She believes that women are proving their expertise in ways that cannot be ignored. Compliance is an area where women thrive, as it demands strategic thinking, problem-solving, and leadership under pressure.

Real change will occur when companies move beyond surface-level efforts and embrace diversity as a competitive advantage. Moore is confident that women will continue to break barriers, regardless of whether the industry is ready.

The Role of Mentorship in Shaping Future Leaders

Mentorship has played a significant role in Moore’s career. She has always sought out mentors and sponsors—both men and women—who could guide her development and challenge her to grow. She emphasizes the importance of mentorship in opening doors, advocating for talent, and sharing real, honest experiences.

For professionals in banking and financial services, mentorship is crucial for empowering the next generation of female leaders. Moore encourages industry veterans to share their insights and experiences, ensuring that emerging leaders feel supported and ready to step forward.

In a rapidly evolving financial landscape, the insights of experienced professionals like Tracy Moore are invaluable. As the industry continues to navigate the complexities of compliance, the role of technology, diversity, and mentorship will be critical in shaping a safer and more resilient financial future.