Wrap-up: RegTech Australia 2017

The recent inaugural RegTech Australia cJulian Fenwick, Managing Director of GRC Solutions chairs a discussion at the RegTech eventonference, hosted by InnovationAus, saw the leaders of financial institutions get together with regulators and innovators.

As part of this event, Julian Fenwick, Chairman of the RegTech Association and Managing Director of GRC Solutions, moderated a panel discussion about what the industry can expect in the year ahead. The high-profile panel included Jost Stollmann of Tyro Fintech Hub, Westpac Group’s Rebecca Lim, Mark Adams of ASIC and IBM’s Murray Bruce.

The discussion touched on issues that ranged from artificial intelligence and augmented intelligence to data management and staff engagement. Each panel member shared their personal views as to what they envision the future of RegTech holds in Australia and around the globe.

Another highly rated session discussed Australia’s competitive advantage over our Asian neighbours and how to maintain this position. There was an expressed need for Australian companies to take a more collaborative approach to be truly seen as innovative and cutting edge within the Asian pacific region. There is also a need for Australian companies to invest more in Regtech start-ups. Australian companies can be too risk averse which could stifle creativity and growth within the RegTech sector.

RegTech is forging ahead at an incredible pace and we foresee some huge changes in the way the industry operates. GRC Solutions is looking forward to playing a key role in facilitating and enabling the change.