Regulatory tsunami, striking the right balance between Reg and Tech

In the evolving landscape of financial regulation, the integration of technology has never been more crucial.

This panel discussion, moderated by Dr. Maciej Piechocki, Chief Revenue Officer, Regnology, brought together experts from a Spanish bank, a US regulator, and a German fintech to explore the intersection of technology and regulation.  

Speakers shared their unique experiences and perspectives on how technological advancements such as AI, cloud, and analytics, shape future regulation and communication between regulators and the regulated.  

Key takeaways from the panel include: 

• Increasing regulatory demands since the 2008 financial crisis have necessitated the use of advanced technology to manage compliance efficiently. 
• Integrating cloud technology and AI is crucial for enhancing regulatory reporting processes, enabling more accurate and timely data collection. 
• Public-private partnerships can leverage best-in-class solutions to improve regulatory compliance, while legacy systems pose significant challenges. 
• Upskilling teams and fostering proactive collaboration with regulators are essential for adapting to new technologies and meeting future regulatory requirements.

"Tech has streamlined our data collection, making it more accurate and reducing times. However, there is still progress to be made."

María Monfort, Head of Reg Reporting, Caixabank 

"There have been advancements, but there's a lot of room to leverage technology to improve the timeliness and frequency of data collection."

Brennan Zubrick, VP of Research and Analytics, Conference of State Bank Supervisors (CSBS)

"The challenge is that you have a highly dynamic requirement, an ever-growing list of things you have to deliver, and at the same time, you want to develop your business. Balancing these demands with legacy systems is a constant struggle."

Martin Krebs, CFO, Scalable Capital