What is API: Application programming interface (API) represents the functionalities of a positive program. These are central because they allow other programmers to use machinery of existing software

The buzz word ‘RegTech' is on the rise. A financial service regulation has inflated at an astounding rate since the financial crisis and, therefore, has the price tag of regulatory compliance. Many start-ups have begun to apply digital technological knowledge including APIs, AI, RPAs, and many more to these immediate, numerous, and burdensome tasks to meet the terms and regulations, hence the emergence of RegTech. This study examines the implications for financial institutions and regulation particularly when technology poses a confront to the global banking and regulatory system. It attempts to examine the characteristics and applications of RegTech in the world of regulatory compliance. It also illustrates a model to define the transformation of present workload to proposed workload of regulatory compliance with an application of RegTech.