Since 2014, Suade has been working closely with financial industry participants and regulators in an effort to make regulation better. More streamlined workflows, better quality data, better user-experiences and more industry collaboration.
In 2016, with the support from the EU, we launched the open source FIRE project as a public good to establish a common data standard for regulatory data. The project now has over 500 users around the world from small regional banks to large global players, proving that data standards do help reduce costs and level the regulatory playing field.
In May 2019, we received a grant from the UK government to work with the Better Regulation Executive (BRE) and Department for Business, Energy and Industrial Strategy (BEIS) to use novel machine learning and NLP techniques to assess the complexity of regulations and where they place disproportionate burdens on businesses.
We believe regulation should be fast, frictionless and fruitful. Here are some thoughts on how.