RegTech

Regulatory technology, is a new technology that uses information technology to enhance regulatory processes. With its main application in the Financial sector, it is expanding into any regulated business with a particular appeal for the Consumer Goods Industry. Often regarded as a subcategory under FinTech, RegTech puts a particular emphasis on regulatory monitoring, reporting and compliance and is thus benefiting the finance industry.

Claus Christensen CEO at Know Your Customer

From Perpetual KYC to Perpetual KYB: Challenges and Opportunities

Historically, the space of individual Know Your Customer (KYC) compliance has always been one step ahead in terms of industry awareness and digitisation trends compared to the connected area of corporate KYC, or “know your business” (KYB) compliance. Hence, to know what’s coming for KYB, it’s worth paying attention to what’s currently happening in...

04 October 2021 /regulation /crime

Andreas Hobbelin Head of AML & FCP at ZTL PAYMENT SOLUTION

What I learned from my meeting with an organized crime figure

A couple of years ago I was walking over Stureplan in Stockholm when I heard somebody yelling my name, I turned around and there was the little brother to one of my former childhood school friends who came to Sweden as a refugee in the 90s. He was tall, big and actually looked like a real crime figure. I couldn’t pretend that I didn’t recognize him...

06 August 2021 /regulation /crime

Ravishankar Poonjolai Consulting Partner at TCS

SEC Derivatives Regulation for Funds - Industry Considerations and Opportunities

As per Investment Company Act of 1940 of Securities Exchange Commission (SEC) of USA, investment management firms and business development companies can use derivatives in mutual funds, ETFs, and closed end funds, except money market funds, with exposure up to ten percent of their assets under management. SEC introduced a new rule under section 1

04 August 2021 /regulation /wealth

Jane Jee 

The Future of Women in RegTech

The number of women working in RegTech account for up to 35% of the industry’s workforce, which compares favourably to the FinTech industry, where 29% of roles are held by women. However, more can and should be done - as mentioned by Lucy Heavens, Co-founder of RegTech Women – from encouraging more young women into the RegTech industry, through ...

13 April 2021 /regulation /crime

Maximilian Dyck 

Transforming Data Collection: FIRE as a common input layer

Originally posted on https://suade.org/learn/transforming-data-collection-fire-as-a-common-input-layer/ In January 2020, the Bank of England initiated a project entitled ‘transforming data collection’ with the aim to improve data at financial institutions and facilitate regulatory compliance processes. Among the Bank’s key considerations were com...

07 April 2021 /regulation

Claus Christensen CEO at Know Your Customer

Company Registries, RegTech Innovation and the Future of AML

Humans have been creating companies since ancient times, but business registries did not make an appearance on the global stage until the 19th century. National institutions – keen to tax businesses among the rise of global trade and the advent of the industrial revolution – started introducing official lists of organisations operating in their spe...

08 March 2021 /regulation /crime

Justin Fitzpatrick Co-founder and CEO at DueDil

The growing urgency for proactive customer monitoring in commercial banking

During the middle of last year, Commerzbank AG (London Branch) was slapped with a £37.8 million fine from the FCA for failing to put adequate anti-money laundering systems and controls in place. Commerzbank was aware of the weaknesses in its operations and had failed to take reasonable and effective steps to fix them despite the FCA raising conc

04 March 2021 /regulation /crime

Retired Member 

SPANISH FTT - NO TIME FOR SIESTA

As 2021 unfolds, the topic of tax is set to dominate headlines. Tax to recoup the costs of Covid, tax on large, high profit companies, and new areas of tax to generate revenue and influence changes in society, such as environmental social and governance (ESG). One tax that has gone live without much of a splash, though, is the new Spanish financia...

18 February 2021 /regulation /markets

Retired Member 

Why policy management is no longer a back-office function

RegTech is set to have a pivotal year in 2021. The pandemic has brought the advantages of using regtech very much to the fore. A particular example has been communication surveillance, given recent announcements from the UK Financial Conduct Authority (FCA) on the subject of monitoring home workers as effectively as those in an office environment....

18 February 2021 /regulation /sustainable

Adam Holden Chief Executive Officer at NorthRow

7 Biggest Challenges of KYC Monitoring

Many firms have taken the trouble to digitally transform their onboarding, but are wasting eye-watering sums of money and man-hours on inefficient processes when it comes to ongoing monitoring. And yet KYC monitoring is vital to ensure compliance with Money Laundering directives so where does it all go wrong and what can firms do to implement chan...

11 February 2021 /regulation /crime