The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Share article

As the RegTech Summit Virtual 2020 fast approaches, we are so pleased to welcome Antony Phillipson, Her Majesty’s Trade Commissioner for North America and Consul General in New York on Day Three (November 18) for a special Keynote speech and Q&A to discuss a possible Brexit UK-US FTA and outline the future of transatlantic regulatory cooperation. We caught up with him before the event to learn more about the treat in store…

“The UK is one of the world’s great financial services centers, but it keeps changing, and the story keeps evolving,” he told RegTech Insight. “What we work very hard to do is to make sure that we’re creating the right sort of ecosystem within the UK to incentivize and attract innovative start-ups and give them a place to grow and to flourish.

“When it comes to both RegTech and FinTech, the UK is a world leader. FinTech, to simplify is prompted by innovative solutions to serving customers’ needs, while RegTech is an interesting solution to the necessary regulatory response to events such as the global financial crisis and other regulatory challenges. In fact, I think it was the FCA that first coined the specific term RegTech in terms of exploiting technology to help firms manage compliance issues.”

Phillipson is looking to deepen the partnership between the UK and the US in a post-Brexit world, and sees enormous possibilities in collaboration within the FinTech and RegTech space.

“We are looking to develop this partnership in several ways, one of which is through the free trade agreement and negotiations, which will certainly include a focus on financial services market access. Alongside that, we’re also pursuing regulatory cooperation and collaboration in a couple of ways. One is through a Financial Services Regulatory Working Group that was set out by the two Treasuries in March 2018. Specifically within that, they launched a Financial Innovation Partnership last year to build and deepen these bilateral engagements on emerging trends in financial services, and stimulate innovation between the two countries. So we are looking to start from a strong platform.”

To learn more about the potential US/UK trade partnership, and to hear the full speech from Anthony Phillipson, don’t forget to sign up for your place at our upcoming RegTech Summit Virtual 2020, from November 16-20.

Related content

WEBINAR

Recorded Webinar: Overcoming the Barriers to Implementing RegTech Solutions: The View from Either Side of the Fence

RegTech holds the promise of targeted, agile and often low-cost solutions to the real-world problems faced by financial institutions across the board. So why is it so difficult to get RegTech projects off the ground? RegTech solutions providers complain that it’s difficult to get access to decision-makers, and even when they do it’s tough to...

BLOG

Santander Selects ThetaRay’s AML Solution to Boost Data Lineage Capabilities

Banco Santander has joined forces with ThetaRay, a provider of AI-based big data analytics, to utilise its AML solution for correspondent banking. The rules-free solution uses machine learning algorithms to identify anomalies in SWIFT and KYC data that point to money laundering, enabling early resolution. The system will analyse the bank’s SWIFT traffic, risk indicators...

EVENT

RegTech Summit Virtual

The highly successful RegTech Summit Virtual was held in November 2020 and explored how business and operating models are adapting post COVID and how RegTech can provide agile and enhanced compliance for managing an evolving risk and compliance landscape. The event featured daily live keynotes, panel discussions, presentations, fireside chats and Q&A sessions with content available on demand over five days.

GUIDE

Regulatory Data Handbook 2020/2021 – Eighth Edition

This eighth edition of A-Team Group’s Regulatory Data Handbook is a ‘must-have’ for capital markets participants during this period of unprecedented change. Available free of charge, it profiles every regulation that impacts capital markets data management practices giving you: A detailed overview of each regulation with key dates, data and data management implications, links to...