Insights

The Cloud, forming the Backbone of the Economy

COVID-19 has shown that the Cloud is the backbone of the economy. The Cloud offers a mechanism for sharing and operating data services online. Locally hosting files requires access to specific premises and systems. To run locally hosted services, companies have to install new systems on their premises. These have

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Operational Risk: The Tech Solution

COVID has made apparent that businesses that have embraced advanced technology have come out on top and efficiently reduced operational risk.

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Series on COVID-19 and RegTech: Mortgage Holidays

In this instalment of our Series on COVID-19 and RegTech, we are considering mortgage holidays and their regulatory treatment. On 17 March 2020, the UK Chancellor of the Exchequer announced 3 months holidays on mortgage repayments to help consumers. On 22 May 2020, the Prudential Regulation Authority (PRA) issued a

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Transforming liquidity reporting: A case study in collaboration

September 2020 SWIFT and Suade Labs team up to explore how to give regulators better and faster insights on market liquidity – all while reducing the reporting burden on financial institutions Article Writen by: Tom Zschach, Chief Innovation Officer, SWIFT Murat Abur, Chief Technology Officer, Suade Labs Originally published 25 SEPTEMBER

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IFR/IFD and the Master RegTech Strategy

From 26 June 2021, investment firms will be facing a new prudential regulatory system under the EU’s Investment Firms Regulation (IFR) and the Investment Firms Directive (IFD). Thanks to the new categorisation of investment firms, the prudential regime is designed specifically for the activities of investment firms. This presents

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Evaluating user requirements

Throughout Phase 1 of the BEIS GovTech Challenge, we have explored the potential for building a tool to analyse the stock of existing regulations and identify requirements for businesses. We were able to use Natural Language Processing and Machine Learning to assess the technical feasibility of this tool. This process

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Understanding user needs

In designing our solution to the GovTech challenge, we are keeping in mind the Government Design Principles and the Technology Code of Practice. We are aware that developing a successful solution requires properly understanding users and their needs. To achieve this, we have been gathering user requirements to verify our

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How can we bring legislation into a format suitable for machine learning?

Once we have derived the key components of a legislation and defined a list of attributes based on paragraph types, another key step is to create a common data format that will store components of a legislation in a structured manner, representing the entire text. This schema will store the

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How can we begin to analyse the stock of existing regulation?

To analyse existing legislative texts, we need to consider the composition of legislations and define the key components that should be extracted from them. Essentially, legislations are a compilation of rules, consisting of rights and obligations. However, to develop a solution that is meaningful for our end users, we need

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What do we mean by "better regulation"?

When we think about "better regulation", we ultimately think about smarter, better targeted regulations that benefit the overall society. We believe that innovative technological solutions can contribute to building a regulatory system that is simpler for businesses to navigate, but also maintains important protections for citizens and the

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