The regtech space is in for a major shake-up, with the FCA‘s new Consumer Duty regulations coming into effect in two months. This presents an opportunity for financial institutions to adopt a new approach to compliance and regulation.
Throughout May, The Fintech Times will be examining the past and present states of regtech and compliance. Not only will we be highlighting the lessons learned, but we will also be analysing how these can shape the future of the sector.
Understand latest standards and developments
The month will begin by bringing everyone up to scratch. Regtech is not a stagnant field. In fact, it is constantly evolving, meaning it is easy to get left behind. We will begin the month by hearing from experts on the latest standards and developments in regtech. Following the pandemic, there were huge changes to the field. So our next focus will look to cover the changes since 2021. Having looked to the past, our first focus will close out by looking to the future of the space. We hear from experts on how the space will develop in 2023.
The role of compliance
Compliance will be the target of our next focus. As we will have heard, a lot of changes have taken place since 2021. With these changes, there have been some challenges – we will begin by hearing what some of these have been and how they were overcome. Following this, we will take a step back and view compliance in the last decade. How has it changed? Of course, we can not only look to the past – we must look to the future too. Our focus will end by analysing how regtech may evolve over the next decade.
Evolution of suptech
A subsector of regtech, our next focus will hone in on suptech. We will hear from experts on what role fintechs can play in helping regulators keep up with the rapid pace of tech innovation. Following this, we will learn how suptech can be used to promote financial inclusion and how it can help regulators ensure that they can still effectively supervise financial institutions. Lastly, we will look at how suptech solutions can incorporate emerging technologies like AI and ML to improve regulatory oversight.
Lessons to share
In our final focus, we will hear from experts on the lessons they’ve learnt in regtech. Specifically, we will hear about new techniques and tools that have proven helpful. How you be compliant and focus on ESG at the same time and how you can overcome compliance hurdles in regards to national/international expansion. Finally, we will look to share what regtech lessons have been the most impactful in the past 12 months.
With all this and more, our regtech focus in May will be one you don’t want to miss!