Industry Leaders Gather at Suade’s New York Roundtable Dinner with Bill Coen

New York, September 24th, 2024 — Suade Labs, a leading provider of regulatory technology (RegTech) solutions, hosted an exclusive roundtable at The University Club in New York, gathering top experts from the financial sector to discuss critical issues facing the industry. The event was attended by over 20 prominent banks and featured distinguished speakers, including Bill Coen, former Secretary General of the Basel Committee, and Dylan Walsh, Global Head of Corporate and Institutional Banking at Oliver Wyman. Suade Labs’ CEO, Diana Paredes, was also in attendance, leading insightful discussions throughout the evening.

Exploring Basel Endgame and AI Integration

The roundtable focused on the pressing regulatory and technological challenges impacting the financial sector today, particularly the implications of Basel Endgame on global and US institutions. Key topics included the evolving role of AI in banking, its potential to support Basel Endgame compliance, and the ways financial institutions are preparing for these regulatory shifts, especially in terms of capital requirements. Diana Paredes emphasized the uncertainty surrounding AI in banking, noting, "There’s a pressing need for clear guidance on AI spending, considering both board and regulatory perspectives."

Participants explored how AI could transform risk management, while also addressing challenges such as the calibration of Basel Endgame and the timeline for its global implementation. There was widespread agreement on the need for a balanced approach to AI deployment, with many banks allocating large budgets to AI but grappling with how to maximize its benefits effectively.

AI and the Regulatory Landscape

Dylan Walsh discussed the broader uncertainty in the financial sector, particularly the potential shifts in regulatory priorities as the US prepares for elections. Diana Paredes added, "Financial institutions must remain adaptable in the face of both market-driven and regulatory changes," pointing to AI's pivotal role in helping institutions navigate this complexity.

Discussions extended beyond Basel Endgame, with attendees debating the potential of SupTech (Supervisory Technology) to reshape regulatory oversight. The group also addressed how financial institutions are upskilling their teams to handle new AI-driven regulatory frameworks and the real-world challenges they face in deploying AI for financial reporting and compliance.

Geopolitics and Regulatory Shifts

The roundtable also examined the geopolitical landscape’s impact on regulatory strategies, with global events, such as US-China tensions, playing a key role in shaping financial regulations. Institutions were encouraged to think about both short-term risks and long-term strategies to adapt to these changes.

A Successful Evening of Insight and Collaboration

The roundtable successfully provided a platform for leading figures in the financial sector to engage in thoughtful discussions about the future of regulation and technology. The event reinforced Suade Labs' commitment to fostering collaboration and innovation in RegTech, offering valuable insights into how financial institutions can harness the power of AI to navigate an ever-evolving regulatory environment.