RegTech Insight Regulatory Technologies The latest content from across the platform
FSB To Focus on RegTech in 2020
International financial services regulator the Financial Stability Board (FSB) has made a commitment to address the use of RegTech and SupTech (supervisory technology) in its 2020 work programme, released this week. The watchdog will continue to monitor financial innovation developments and assess their potential implications for financial stability. Complementing the recent report on BigTech in…
Expert Group Urges EU Regulatory Reform to Encourage Fintech Innovation
The European Commission Expert Group on Regulatory Obstacles to Financial Innovation has published its long-awaited report on how to improve and strengthen the regional FinTech landscape and encourage greater investment and innovation, along with ending regulatory fragmentation and establishing a more robust regulatory framework. Made up of industry experts, financial institutions, academics and lawyers,…
FSB Weighs In On Risks Inherent In Cloud Adoption For Financial Service
The rapid adoption of cloud computing and data services by financial institutions could raise new implications for financial stability, warns global regulatory body the Financial Stability Board (FSB) – including a lack of transparency when it comes to legal and regulatory compliance. A new report from the FSB released this week highlights potential issues for…
Broadridge Uses Blockchain to Address European SRD II Compliance
With the Shareholder Rights Directive II (SRD II) regulatory compliance deadline fast approaching, intermediaries supporting institutional and/or retail clients face one of the biggest changes in European corporate governance in many years. And according to Broadridge, many businesses are not yet ready for the transition – which is expected to place considerable pressure both on…
Singapore’s Tookitaki Drives Forward AI in Anti-Money Laundering
Enterprise software specialist Tookitaki closed its Series A Funding Round at $19.2 million last week, following a further $11.7 million injected in November. The latest round was co-led by venture funds Viola Fintech and SIG Asia Investment, along with Nomura Incubation Investment. They join existing investors including Illuminate Financial, Jungle Ventures and SEEDs Capital, an…
Regulatory Data Use Cases for Privacy-Enhancing Technology
Privacy-enhancing technology (PET) is emerging as a new way for financial services firms to share and compare confidential data without compromising competitiveness or data privacy compliance. Several new use cases are emerging. Improving MiFID II reference data For example, a new industry initiative that uses advanced information security techniques looks set to enable European and…
Introducing the Alliance for Innovative Regulation: Driving Change through Collaboration
Last month saw the official launch of a new model designed to connect fintech leaders, financial institutions, regulatory agencies—and their innovation teams— with the goal of modernising the financial regulatory system. With $2 million already raised from a range of FinTech entrepreneurs and ventures capital firms, the Alliance for Innovative Regulation (AIR) is off to…
Elliptic Introduces AML Solution for XRP
Crypto compliance specialist Elliptic has a mission: to prevent, detect and pursue criminal activity in cryptocurrencies. In such a rapidly developing sector and with opacity around regulation across jurisdictions, transparency and accountability are vital in tracking crypto transactions – and it is an area in which RegTech is fast spreading its wings. The firm provides…
NEW BIS Innovation Hub to Focus on RegTech
The Bank of International Settlements (BIS) has launched its third BIS Innovation Hub centre in Singapore, following two recently launched centres in Hong Kong and Switzerland. The Singapore branch will focus on two areas: 1) digital infrastructures on identity, consent and data sharing, and 2) the creation of a digital platform to connect regulators and…
DBS Bank Selects Exiger to Help Combat Risks of Financial Crime
Singapore-based DBS Bank has partnered with Exiger, a provider of tech-enabled financial crime, risk and compliance solutions, to implement an artificial intelligence (AI) powered due diligence solution to streamline and support the bank’s screening processes. The automated AI-powered solution, DDIQ, analyses content with cognitive reasoning to accelerate and enhance risk assessments of clients, investments, transactions,…