Welcome to this week's edition of The Fintech Files. I'm Yolanda Bobeldijk, FN's fintech correspondent, keeping you up-to-date with the latest developments in financial technology and innovation.

A regtech bloodbath
The industry has been awash with a tsunami of Mifid II-focused regtechs in recent years, but these newly-created start-ups may be swept away themselves very soon. That’s what some City execs, who were speaking at a FN breakfast briefing last week, have been telling me. Ross Barrett — a senior member of the Investment Association — said that many regtechs “will fall by the wayside” in two years time because they are increasingly competing with some “really kickass brokers”.