Panel: RegTech Summit - Risk, Compliance and AI

17th June 2021: Constant demand from regulators can create hurdles within the industry for institutions that may not be prepared to accommodate the rapid change in the regulatory framework. The increasing number of rules and requirements from regulators across different markets that are fostering innovation make this a challenging landscape to navigate.

This exciting panel explores and discusses the complexities of this ever changing environment and the challenges of variations in pace between innovation and regulation.

Panellists:

• Diana Paredes, CEO & Co-Founder, Suade Labs
• John Walsh, President, SightSpan
• Izhar Arieli, CEO & Co-Founder, TenureX

The panel discuss:

• Reskilling is key to understanding how to utilise the technology required to enable productivity and to keep up with these demands. Data standards and regulation that is machine readable will support these rapid changes.
• It is important that regulation should foster innovation in a sustainable way to assist financial institutions to grow and evolve.
• We must look to technology more to solve problems, such as machine readable rules and regulations rather than resources and money alone.
• How can we ease the process of regulation across jurisdiction when working globally?
• Data standards such as FIRE, the open-source data standard, will provide one source of truth and complements the efforts of individual regulators.
• The adoption of standards globally is challenging and reliant upon individuals and the adoption of innovation also relies on upskilling.
• Standardisation will enable a more level playing field for different sized financial institutions and regulators.

As discussed in this session, seeing the adoption of technology, AI and innovation as a risk may stunt growth and positive change. To join the RegTech revolution, contact us today!