We were absolutely delighted to deliver the first event in our Fintech Research & Innovation Roadmap event series, supported by FinTech Scotland and lead sponsor Pinsent Masons.
For this first event the focus was on financial regulation, where we took a deep dive into RegTech to consider how advances in technology and data can create new ways of addressing compliance and managing risk in financial services
Operating in financial services means that businesses need to address high volumes of regulation and it is a struggle to keep up with the constant rate of change – robust solutions are required to address compliance and manage risk.
Our panel of industry experts met to discuss how RegTech can address these challenges.
Some of the key points of discussion included:
-How RegTech can support compliance and risk management
-What are the challenges in deploying RegTech?
-What is the role of Regulators in supporting RegTech?
-What is the future of RegTech innovation?
Some of the key discussion points at the event included:
1) Application of technology in a way, which can simplify compliance, creating an opportunity for better investment and future of financial services here in Scotland.
2) Proactive use of technology and revisiting the processes in place to think about risk environment differently
3) Combining the potential it has, including experience that innovators, financial service industries and what professional and academic circle holds, Scotland has real breadth of opportunity in next 10 years for growth, investment and innovation in RegTech.
For those who were unable to make the event, don’t worry, we have you covered, you can watch the panel discussion again in full here:
Nicola AndersonChief Executive Officer at FinTech ScotlandCEO for FinTech Scotland. FinTech Scotland works across private, public and third sectors, and academia to enable economic growth and inclusion in the developing face of digital financial services.
Nicola is a business leader with experience across multiple sectors and supporting innovation, people development, building strategy, change management, understanding risk and financial services regulation.
She has considerable experience in financial services and prior to joining FinTech Scotland was a senior leader at the FCA, where she worked as part of the Retail Banking Supervision senior leadership team.
As the CEO of FinTech Scotland, she contributed to the development of solutions needed to address complex industry issues following the financial crisis. She has engaged with Boards and Executives at different retail banks on a number of significant business transformational changes and operational risk issues, often working in collaboration with other UK regulatory bodies.
Yvonne DunnPartner, Pinsent MasonsYvonne is a Partner who leads the Pinsent Masons financial services technology practice. She specialises in advising on outsourcing, systems development and integration and IT procurement. Yvonne also leads our FinTech practice and advises on complex projects which combine technology and the regulatory environment in which financial services clients operate. Yvonne leads several of our TMT and outsourcing relationships with major banking and insurance clients and regularly speaks and writes on TMT and outsourcing issues specific to the financial services sector. She is the firm’s board representative on Fintech Scotland.
Devraj Basu Senior Lecturer, Strathclyde Business SchoolDevraj Basu is Senior Lecturer in Finance in the Accounting and Finance department at Strathclyde Business School. His area of academic research is financial markets, covering equity markets, commodity markets and alternative investments. He is actively involved in Regtech having set up the Regtech Forum which bring together industry, academia and government both within Scotland and internationally. The goal of the Regtech Forum is to help understand the fast moving Regtech landscape and how Scotland and the UK can position themselves to become leading global players. He has helped design Strathclyde’s MSc in Financial Technology, the UK’s first master’s program in Fintech.
Gordan McHarg Chief Executive Office, AutorekGordon co-founded AutoRek in 1994 and has served as CEO since 1998. Gordon has guided the company from its early days as a bespoke software development services provider through to its current position as a leading provider of enterprise financial controls and reconciliation solutions to the global financial service sector.
His client experience is extensive and includes international work for IBM in the US, Renaissance Capital in Russia and several global clients including Barclays, JP Morgan and BUPA. He studied Computing Science at West of Scotland University, graduating in 1989.
Mick O'ConnorFounder & Director, HaeloMick O’Connor CEng CDir is founder and director of HAELO Consulting LTD, a company specialising in developing emergence sense-making software for complex regulatory environments and currently focused on SM&CR (Senior Manger and Certification Regime) implementation in the finance sector.
He has forty years’ experience in shipbuilding, oil, petrochemical, defence, aerospace, construction, aviation, utilities, and space. He is Programme Director at Prestwick Spaceport, IoD Chartered Director Ambassador, PhD candidate, and Royal Academy of Engineering Visiting Professor at Glasgow Caledonian University.
LUKE SCANLONHead of Fintech Propositions, Legal Director, Pinsent MasonsLuke is the Head of Fintech Propositions and a Legal Director for Pinsent Masons. He advises large banks, cloud service providers and various types of fintech and payments businesses on a range of legal and regulatory issues that impact on their approach to innovation and technology. Recognised by Legal 500, he regularly speaks at conferences on the impact of regulation on the use of technology in financial services and the evolution of fintech.
Aastha Ahuja
Ian Davey
