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The Rise of Regtech & Suptech

IBF MasterClass (Compliance) 2018

29 March 2018

According to EY, international banks are spending more than US$1 billion per year each to implement regulatory compliance and controls. As financial regulations evolve with the changing industry landscape, the burden of compliance will continue to increase in both cost and complexity.

At the previous IBF MasterClass, we heard from EY on how advancements in Regulatory and Supervisory technology - or RegTech and SupTech – are bringing innovative, agile and scalable solutions to help financial institutions address key compliance and reporting challenges, and improve the effectiveness and efficiency of compliance processes. The key benefits of adopting RegTech as a compliance tool include reduced compliance costs, enhanced data analytics, improved regulatory reporting and positive customer experience, amongst others. There are, however, no all-encompassing RegTech solution. Therefore, financial institutions must first identify gaps and understand their specific compliance needs before exploring possible solutions in RegTech. Additionally, collaboration is crucial in the ecosystem of regulators, financial institutions and RegTech providers, in order to effectively deploy such technology for compliance and risk management efforts.

With the growing need for innovative compliance solutions, EY suggested that data science, analytical capabilities and creative thinking are the skill sets that are increasingly important within compliance functions, and that financial institutions should look to learn from leading Tech companies in how they manage and handle vast amounts of data for compliance requirements.

We thank EY for hosting this session at their premises, as well as the speaker and panellists for the perceptive and engaging session. We have an exciting line-up of IBF MasterClasses and Connect seminars, where our industry partners will be sharing their insights on the latest trends and developments with finance professional. Please click here​ to find out more.

 For partnership opportunities at future IBF events, please contact outreach@ibf.org.sg​. ​

The Rise of RegTech & SupTech

​IBF MasterClass (Compliance) 2018​

29 March 2018​

Agenda

Time

Activity

8.45am

Registratio​n​​ / Sign-in


​​Welcome Address by ​IBF​


Presentation on "The Rise of Regtech & Suptech"
 Liew Nam Soon, Managing Partner, Asean Markets, EY

​Q&A

​​​Tea Break

​​Fireside Chat with Ernst & Young
 Brian Thung, Partner, Financial Services, Assurance, EY (Moderator)
 David Scott, Partner, Advisory Services, EY
 Liew Nam Soon, Managing Partner, Asean Markets, EY
 Varun Mittal, ASEAN FinTech Leader, EY​

​11.30am​End of event

The Rise of RegTech & SupTech

​IBF MasterClass (Compliance) 2018​​

29 March 2018

​Liew Nam Soon

Managing Partner, Asean Markets
Ernst & Young Solutions LLP

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Varun Mittal

ASEAN FinTech Leader
Ernst & Young

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David Scott

Partner, Financial Services Risk Management, Singapore
Ernst & Young

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​Brian Thung

Partner, Financial Services, Assurance
Ernst & Young

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The Rise of RegTech & SupTech

​IBF MasterClass (Compliance) 2018​

29 March 2018​

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