Drowning or Waving? How to Stay Afloat in a Tsunami of Compliance Technology
RegTech and SupTech (RegTech for supervisory agencies) are now seen as opportunities creating massive shake-ups in our financial institutions’ deep-rooted legacy banking IT systems and supervisory procedures. Traditional management of compliance, risk ID, regulatory reporting and transaction monitoring will certainly be revamped in the aftermath of the Royal Commission’s findings, to deal with the weaknesses in conduct and risk management, and to increase supervisory effectiveness.
But adopting new technology without having a strategic and overarching long-term view of where financial supervision should head is futile, which is why InnovationAus.com feels NOW is the moment to gather federal government policy makers, the financial institutions, the technology providers and the regulators, all under one roof to examine the national strategy for financial regulation and the way forward for each stakeholder.
The event will gather Chief and Heads of Compliance, Chief Risk Officers and CTOs from the Financial Services sector; Heads of Change & Transformation; Innovation; Audit; and Wealth Management, CEOs, MDs and founders from Fintechs and Regtechs; and senior executives from ASIC and APRA
Join 120+ government, academic and industry leaders who will be discussing the strategic role Regtech and Suptech will play in the regulated financial sector moving forward, including:
- Will Australian RegTech partnerships be crucial for banks moving forward, in light of the Banking Royal Commission?
- Will we see a rise in SupTech and can it tackle the challenges faced by ASIC and APRA?
- Do we need Government policy and investment to grow the sector, to ensure banks enhance their regulatory practices?
- The universe of RegTech is growing with new, innovative participants – it’s an exciting market – but how can the banks stay afloat amidst the tsunami of emerging regulatory tools?
- What RegTech tools actually make it easier for firms to interact with regulators, at a lower cost and administrative burden?
- The role of policy – incumbent institutions are reticent to work with third party fintechs – what role would be most useful for policy to play in order to foster development and adoption of RegTech in financial services?