On 10th May, Dr Sian Lewin chaired a panel at the first RegTech for London event curated by Matt Elton of Finnolux. The event was themed around AML and KYC and asked the important question of ‘Do you really know your customer?‘. With the fifth EU Anti-Money Laundering Directive coming into force the day before, and the drive to really understand who beneficial owners are, it was a very timely event.
Donna Bales of the RegTech Roundtable Foundation, in a thought-provoking keynote, discussed how and why the Financial Services industry will transform over the next 5 to 10 years, the importance of technology in managing these changes and the challenges of effecting meaningful technological change in large financial firms. You can read her full keynote speech here.
Other highlights included hearing from arguably one of the oldest RegTech firms, Keesing Technologies, about real life examples of the challenges involved in verifying identify documents. It was also interesting to hear Sam Gibbons from CompliLearn talking about the variation in the maturity of regulation across various global regions – of particular use for RegTechs planning to enter new markets.
In a wide-ranging panel discussion, Sian not only demonstrated her crowd control skills but also facilitated a lively exchange about the role of compliance functions, whether compliance should be seen as a business opportunity and not just a cost and whether we will get to a point where the assurance of Trust can be marketed as a service.
If you would like to read more about the event, you can read this whitepaper.
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