Regulators must have a better understanding of the data they
hold, while financial institutions need to have a better hold
of the information they manage.
Banks grapple with on average 18 new regulation changes in a
day. The problem is exacerbated when there are multiple
regulators handling different regulations with varying
Nilixa Devlukia, head of regulatory at Open Banking, and
former technical specialist for payments, strategy and
competition at the UK Financial Conduct Authority, told
delegates at the Finovate Asia forum during Hong Kong Fintech
Week last week, that one of the problems regtech should aim to
resolve is how regulators digest information. ...