regulatory technology
TRANSCRIPT
Banking
REGULATORY TECHNOLOGY
A journey to transform your risk and compliance function
SINCE THE FINANCIAL CRISIS OF 2008 REGULATORS GLOBALLY HAVE IMPLEMENTED FAR-REACHING AND EXTENSIVE REGULATORY REFORMS AND COMPLIANCE REQUIREMENTS
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VINCENT KASBIHead of Asia
+852 6800 [email protected]
HELINA LOProject Director
+852 5664 [email protected]
Basel III Financial Crime Biometric Data PRIIPS
Cybersecurity FATCA Volcker Rule EMIR
UMR CRS BCBS 239 IRRBB
Accredited Investors AML/CFT ANACREDIT IFRS
RRP FRTB Data Privacy MIFID 2
GOVERNANCE
DAILY OPERATION
RESOURCES & TALENT
TECHNOLOGY
FINANCIAL INSTITUTIONS FACE FOUR MAJOR CHALLENGES
IMPACT ON COST AND CUSTOMER EXPERIENCE
IS REGTECH THE SOLUTION?
$321 billion FINES PAID BY BANKS SINCE 2008
30x finesCOMPARING 2011 AND 2014
10 working daysMORE TO ONBOARD A CLIENT COMPARING 2015 AND 2017
RegTech applies the latest innovative technology to better perform regulatory processes for the benefit of Financial Institutions (“FIs”) / Regulatory Authorities.
Using such technology solutions improves the existing methodology of risk remediation and regulatory compliance, thus enhancing efficiency and reducing cost.
BLOCKCHAIN CYBERSECURITY
B
IG D
ATA
AN
ALYT
ICS
RISK MANAGEMENT
KYC/AML & Fraud
Regulatory Management
Data Management
Risk Management
V 1.0V 2.0
V 3.0
KNOW YOUR CUSTOMER “KYC”Pre-2008 RegTech 1.0 lasted until the 2008
Global Financial Crisis
PROCESS AUTOMATIONRegTech 2.0 uses
technology to automate compliance
processes
KNOW YOUR DATA “KYD”
RegTech 3.0 is a paradigm of digital identity and data
sovereignty
REGTECH DEVELOPMENT
From single level of regulation to
multiple levels of regulation
From heterogeneous to harmonised data
reporting standard
From KYC to KYD
From isolated data to connected data
8 KEY BENEFITS & 3 KEY DRIVERS
Regulations incorporated with technology trends
Scalable and agile system solutions
Enhanced regulatory reporting
Advanced big data analytics
Better customer experience
Multi-tier regulation control
Reduced compliance cost
Better risk managementFINANCIAL INSTITUTIONS
REGULATORS
NEW TECHNOLOGY
SIA PARTNERS REGTECH APPROACH
Initiation
UnderstandingAs-is
Implementation Roadmap
Transition & Closure
Target Design Definition
Execution
YOUR TAILOR-MADE REGTECH JOURNEY WILL BE PROGRESSED THROUGH A GUIDED AND STRUCTURAL FRAMEWORK.
ARE YOU READY TO START YOURS? CONTACT US FOR MORE INFORMATION