Outdated processes cost banks time and money; EC360 delivers 59% incremental efficiency gains by implementing CDI
4th February 2025, London, UK – Encompass Corporation, a leader in KYC automation and corporate digital identity (CDI) has launched EC360, a ground-breaking platform designed to transform the banking sector. EC360 seamlessly integrates public and private data, providing a 360-degree view of corporate clients, and enabling fast, flawless, and frictionless identity verification.
In a world where rising client expectations and fierce competition are reshaping the financial landscape, the ability to quickly and accurately verify corporate client identities has become a key differentiator. CDI offers a fresh approach and replaces cumbersome manual processes, enabling faster and more accurate KYC and client onboarding while improving operational efficiency. These advances not only streamline internal workflows but also enhance the overall client experience, positioning banks to better meet the needs of their corporate clients.
With EC360 the onboarding process is transformed through a suite of innovative solutions which include EC Public Automation, EC Private Outreach and EC CoorpID. These comprehensive solutions are designed to integrate into existing technology to complement and accelerate digital transformation initiatives. EC360 orchestrates and automates the collection, organisation, and consolidation of data from public and private sources, ensuring compliance and meeting business requirements. Its data-agnostic approach allows banks to tailor the information they wish to collect, integrating real-time inputs from registries, law enforcement, regulators, stock exchanges, secure client outreach and other sources.
Banks are drowning in outdated processes and legacy systems, unable to keep up with escalating regulatory demands and mounting client expectations, said Wayne Johnson, CEO and Co-founder of Encompass Corporation. EC360 is not just a platform; it is a blueprint for the future of banking. It seamlessly automates the collation of real-time data and documents and supplements this with private information securely sourced from the client. This results in comprehensive, ready-to-use digital risk profiles that eliminate manual processes, enhance decision-making, and ensure compliance. Built with scalability, security, and reliability at its core, EC360 enables global banks to provide consumer-class service experiences to corporate clients worldwide.
Outdated manual processes, legacy systems, and a complex web of escalating regulatory demands are straining banks’ ability to meet rising client expectations. These inefficiencies frustrate both banks and clients, driving the need for innovative solutions. By automating identity validation and verification, EC360 offers a solution that not only addresses these pain points but also unlocks new opportunities for growth and operational excellence.
This automation reduces the time and resources required for onboarding, cutting operational processes by up to 32% compared to traditional manual methods that average 51 hours per client at Tier 1 banks. By streamlining workflows and minimising errors, EC360 helps banks achieve unparalleled efficiency gains starting with 21% in year one to 59% in year five from implementing CDI, enabling them to allocate resources to strategic initiatives that drive innovation and revenue growth.
For CEOs, COOs, and heads of digital transformation, EC360 delivers a comprehensive solution that streamlines operations, strengthens compliance, and elevates client experience. The impact is transformative which provides the following:
The EC Public Automation solution hosted by EC360 collates and integrates crucial public data and documents needed for KYC. EC360 standardises data and resolves inconsistencies, delivering actionable insights and complete beneficial ownership hierarchies. Additionally, the ‘EC Private Outreach’ solution allows banks and their clients to share sensitive documents with full control over access, ensuring both privacy and security via a secure digital vault.
At Encompass Corporation, our goal has always been to empower banks to optimise their KYC processes, strengthen risk management, and meet compliance standards—all while driving greater efficiency. With EC360, we’ve designed a solution that delivers this transformative approach. The time to act is now and as banking continues to evolve, so must the systems that support it. Wayne Johnson concluded.
Encompass enables fast, accurate identity validation and verification of corporate customers, and a gold standard approach to KYC. Our award-winning corporate digital identity (CDI) platform incorporates real-time data and documents from authoritative global public data sources and private customer information to create and maintain digital risk profiles.
With Encompass, the world’s leading banks improve customer experience and increase business opportunities through consistent regulatory compliance and risk mitigation.
4 Feb 2025, London UK - The RegTech Association member Encompass Corporation, a leader in KYC automation and corporate digital identity (CDI) has launched EC360, a ground-breaking platform designed to transform the banking sector. EX360 seamlessly integrates public and private data, providing a 360-degree view of corporate clients, and enabling fast, flawless and frictionless identity verification. Read more.
$20 million round enables communications leader to scale its footprint, addressing essential governance needs in the financial sector and beyond
New York, NY – January 21, 2025 – LeapXpert, the responsible business communication pioneer, today announced it has secured $20 million in Series B funding. The funding round was led by Portage, with participation from existing investors, including Rockefeller Asset Management, Uncorrelated Ventures, and the Partnership Fund for New York City.
LeapXpert continues to see strong and growing demand for its communication platform among hundreds of leading financial institutions, Fortune 500 companies, and enterprises worldwide. The company is on track for profitability this year.
“We are excited to lead this Series B investment round in LeapXpert,” said Ricky Lai, Partner at Portage Ventures, who joined the company’s Board of Directors. “We believe that LeapXpert’s innovative platform addresses a critical need of the modern workplace for governed communications across messaging channels. With exceptional leadership and a proven track record, we believe the company is well positioned as a market leader. We look forward to supporting their continued transformation of business communication and driving global expansion.”
The LeapXpert Communications Platform redefines how businesses communicate, enabling relationship owners to engage clients on their preferred platforms while ensuring governance, compliance, and security. This award-winning, cloud-based solution facilitates seamless and governed communication across modern channels without compromising on enterprise control, data retention, security needs, or regulatory requirements. The platform integrates seamlessly with popular messaging channels including iMessage, WhatsApp, SMS, Telegram, WeChat, Signal, and LINE on the client side, alongside enterprise platforms such as Microsoft Teams, Slack, Salesforce, and dozens more on the corporate end, bridging the gap between consumer-first and enterprise-grade systems.
“This latest funding round fuels our growth trajectory as we scale to meet the surging demand for our solutions," said Dima Gutzeit, Founder and CEO of LeapXpert. "We've solidified our position as the industry's trusted partner and de facto standard for enterprise-grade governance and compliance across modern communication channels. With this investment, we'll expand our reach, accelerate product innovation, and empower businesses to optimize the ways they communicate and unlock the full potential of their relationship and communication data.”
“We're on a mission to bring the benefits of governed modern communications to businesses around the globe,” said Avi Pardo, Co-founder and Chief Business Officer at LeapXpert. “Beyond the pressing need in financial services, we now see growing interest in many additional vertical markets. We are committed to accelerating our global expansion, boosting our sales efforts, enhancing our marketing initiatives, and strengthening partnerships across key regions. “At the same time, we’re strengthening our customer success framework to empower our growing customer base to fully harness the potential of our platform, further cementing LeapXpert's leadership in responsible business communications.”
Previously named a Gartner Cool Vendor, LeapXpert was recognized as a Visionary in Gartner’s new Magic Quadrant for Digital Communications Governance and Archiving (DCGA) published earlier this month. The company also ranked #14 in New York City and #113 overall on Deloitte’s Fast 500 list of America’s fastest-growing tech companies for 2024. Additional recent accomplishments included being named Microsoft Partner of the Year three years in a row and winning the Best Unified Communications Platform<$250M for 2024.
About LeapXpert
LeapXpert, the responsible business communication pioneer, provides enterprises with peace of mind through governed, compliant, and secure communication solutions. The LeapXpert Communications Platform enables governed and efficient communication between employees and clients through consumer messaging channels, while boosting productivity and decision-making with Communication Intelligence. The company is headquartered in New York, with offices in London, Tel Aviv, and Asia. Hundreds of enterprise customers, with hundreds of thousands of users in more than 45 countries, depend on LeapXpert daily for Digital Communications Governance & Archiving (DCGA) solutions. For more information, visit www.leapxpert.com.
Contact information Ari Applbaum media@leapxpert.com +972-54-444-8654
About Portage
Portage is a global investment platform focused on FinTech and Financial Services with over US $2.5 Billion assets under management. Our team partners with ambitious companies across all stages, through Portage Ventures and Portage Capital Solutions. We provide flexible capital and deliver a global network of investors, commercial partners, advisors, and value creation experts. With deep industry knowledge and entrepreneurial experience, Portage is committed to supporting the leaders who are reshaping financial services.
Portage operates in the United States, Canada and Europe. Portage is a platform within Sagard, a global multi-strategy alternative asset management firm with over $27B under management. For more information, visit www.portageinvest.com.
Ozone API strengthens its existing presence in Australia through new partnership with ProductCloud.
Both companies are experts in the field as founding members from each team played an instrumental role in the initial development of open banking standards and Consumer Data Rights in their respective markets.
With non-bank lenders now needing to comply with the Consumer Data Right, this partnership delivers a fast, efficient path to compliance.
28 January 2025, London – Ozone API, a global leader in open banking technology, announces today its strategic partnership with ProductCloud, a platform that streamlines product information management. The new partnership will help Australian companies simply comply with the Consumer Data Right legislation, providing a technology platform which removes complexity and enables them to rapidly deliver open APIs aligned to the latest version of Australian Consumer Data Standard.
This comes as the Australian Government recently announced a series of changes to the Consumer Data Right (CDR), an opt-in service that empowers consumers to share their data securely, with full control and transparency over who it’s shared with and why. These latest updates simplify requirements for accredited banks when checking or seeking consumers’ data for providers. The CDR framework aims to serve consumers better, improving overall consumer experience.
With non-bank lenders now needing to comply with these regulations, Ozone API and ProductCloud offer a unique combined proposition enabling relevant organisations to meet open banking regulations; quickly and cost-effectively. Ozone API’s solution is already CDR-compliant.
The founding teams of both Ozone API and ProductCloud have a shared heritage, having both played formative roles in the development of standards. The Ozone API founding team led the design and development of the UK open banking standards, whilst the founding team of ProductCloud helped author the Australian Consumer Data Standards.
With ProductCloud, Ozone API is working alongside a trusted partner with a deep understanding of the open banking landscape in Australia. Sharing knowledge of their respective markets, both companies remain one step ahead of their competitors while providing the best-in-class experience for customers.
Huw Davies, Co-founder and CEO, Ozone API says, “Our platform is already helping banks and financial institutions around the world to deliver standards compliant with open banking APIs, including in line with the CDR standard. We’re really excited to combine our global expertise in open finance with ProductCloud’s innovative product management platform. Together, our solutions remove the complexity of achieving and maintaining CDR compliance, allowing organisations to focus on their core business.”
Mark Evans, Co-founder and CEO of ProductCloud said, "Since launching ProductCloud back when CDR kicked off, we had our sights on being the go-to Product Information Management and CDR Compliance platform for Financial Institution Product Managers. Partnering with Ozone API is an exciting development because they have also been a pioneer in Open Finance. Collaborating with our respective SaaS platforms and out-of-the-box APIs will provide a unique offering for rapid and cost-effective open banking compliance."
ENDS
About ProductCloud
ProductCloud, an Australian-based fintech established in 2020, is the leading cloud-based SaaS platform for mastering and integrating financial institution product information.
Developed by a founding team that was instrumental in creating the Consumer Data Right (CDR) standards, it assists product teams in managing their portfolios while ensuring compliance with CDR, Design and Distribution Obligations (DDO), and expanding regulatory obligations.
Learn more: https://www.productcloud.com.au
About Ozone API
Ozone API empowers banks and financial institutions to adapt and thrive in the new world of open data, by providing the technology to unlock the power of open finance and change the world.
The UK-based fintech is the leading standards-based open API platform, supporting all global standards and providing the tools and expertise to help banks and financial institutions create real commercial value.
With a founding team that originally worked at OBL on the development of the UK open banking standards, Ozone API continues to shape global open finance helping regulators, banks and technology platforms to accelerate open finance.
Learn more: https://ozoneapi.com
LONDON, 2 January 2025 – CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), has today formally announced the completion of its acquisition of the Thomson Reuters Regulatory Intelligence and Oden businesses on 31 December 2024.
The acquisition of these global businesses is another step forward in CUBE’s growth plans as a leader in regulatory intelligence. It will supplement and enhance CUBE’s ability to deliver significant scale across many of the world’s leading and systemically important financial institutions. CUBE’s global customer base will expand to total approximately 1,000 customers in banking, insurance, asset and investment management, payments and adjacent regulated industries.
CUBE’s Founder and CEO, Ben Richmond, said: “The completion of this acquisition is a major milestone for CUBE in a year that has seen many important milestones including our strategic partnership with Hg, the acquisition of Reg-Room, and the acquisition of Thomson Reuters Regulatory Intelligence and Oden businesses.”
“Thomson Reuters is best known in the industry for providing regulatory analysis and subject matter expertise combined with world-leading journalism and news,” said Ben Richmond. “The powerful combination of CUBE’s AI and the years of human generated content curated by Thomson Reuters Regulatory Intelligence and Oden subject matter experts sets us apart in the industry. This new dimension at CUBE will accelerate innovation and drive further growth and opportunity in 2025 and beyond.”
Following the announcement of its strategic partnership with Hg in March 2024, CUBE has now completed two transformational US-based acquisitions across three businesses whilst continuing to assemble a highly experienced executive team. CUBE’s continued impressive growth saw its presence in the enterprise sector surpassing 200 customers and now represents around 40% of Tier 1 financial institutions globally. In the mid-market sector, serving small and medium sized enterprises, CUBE now has near 800 customers.
With this growth CUBE solidified its global footprint by establishing offices across its six main hubs focused on customer support and implementation; with the number of employees at CUBE doubling to near 700 and a comparable increase in the number of countries where CUBE’s employees are located, which now totals 15 countries.
Ben Richmond said: “We are excited to welcome all of our new colleagues to CUBE – 2025 promises to be yet another significant year for the business as we continue to deliver further innovation focused on automating regulatory compliance and risk management for our customers.”
The definitive agreement was originally announced in May 2024 and terms were not disclosed.
For further information: Lorna Cobbett / Tom Sutton CUBE@wearebluejohn.com
About CUBECUBE provides a highly comprehensive and robust source of classified, and meaningful AI-driven regulatory data to power its Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) solutions. CUBE’s purpose-built regulatory technology including its AI engine (RegBrain) and software platform (RegPlatform) tracks, analyses, and monitors laws, rules, and regulations in every country and in every published language to create an always up-to-date regulatory footprint that transforms visibility and compliance capability for customers across the globe.
With operations across Europe, Middle East, North America, Canada, Asia, and Australia, CUBE serves a diverse and global base of customers and partners including the largest financial institutions in the world who leverage CUBE’s platform to streamline their complex regulatory intelligence and change management processes.
Following the strategic partnership with Hg in March 2024, CUBE announced the acquisitions of US-based Reg-Room and the Thomson Reuters Regulatory Intelligence and Oden businesses in May 2024. cube.global
A white paper from Australian Payments Plus and WUNA
This paper examines the systemic barriers Aboriginal and Torres Strait Islander peoples face in proving their identity and advocates for culturally appropriate, transformative digital solutions, to address these challenges. The paper draws primarily on the experience of the WUNA® team who are developing a secure, quick-access ID platform that empowers users to manage their personal information and share it with the organisations that need it, and the ConnectID® team at Australian Payments Plus who are responsible for building a digital identity network for Australia. We also draw on the insights of other observers and gratefully acknowledge their direct and indirect contributions.
ConnectID is an initiative of Australian Payments Plus (AP+). AP+ brings together eftpos, BPAY and NPP Australia as one organisation, and plays a key role in building trust in the digital economy.
Mr Jason-Urranndulla Davis, the Founder of WUNA, is a Traditional Owner of the Waanyi (Native Title Holder), East Aranda (Stolen Generation) and Kalkadoon (Native Title Holder) Nations with more than 30 years dedicated to working across all levels of Indigenous Affairs in Australia. The company leading WUNA is Hold Access, a fully Aboriginal owned and controlled RegTech company of Australia.
This paper has been developed on the lands of the Larrakia Nation and the Eora Nation, and the authors pay their respects to all Aboriginal and Torres Strait Islander peoples past and present across this country. This paper further acknowledges the unique cultures of Aboriginal and Torres Strait Islander peoples in Australia and will refer to these communities unless specifically referencing work which uses ‘Indigenous’ terminology. The content provided by WUNA is based on the perspectives, experiences and knowledge of Aboriginal and Torres Strait Islander peoples from their own regions and communities and has been compiled with cultural safeguards. WUNA asserts and acknowledges that Aboriginal and Torres Strait Islander peoples are the leading and rightful experts of their own knowledge, identity and experiences.
Warning: This document may contain names and images of deceased Aboriginal and Torres Strait Islander peoples.
Download the white paper.
FinTech Global have announced their RegTech100 list for 2025 (www.RegTech100.com) - the world’s most innovative tech solution providers that address the challenges of ever-increasing regulatory pressures within financial services.
The financial services industry this year has seen a large increase in regulatory fines, underlining some of the critical challenges that firms face in staying compliant amid growing regulatory scrutiny. In just the first half of 2024, global financial regulators levied 80 fines totalling $263.2m for non-compliance with AML regulations, including KYC sanctions, SARs and transaction monitoring violations.
This dynamic regulatory environment is boosting the growth prospects of the RegTech industry as it grew from $12.8bn in 2023 to $15.8bn in 2024. The sector is expected to reach a whopping value of $85.92bn by 2032, at a CAGR of 23.6% over the period.
As the sector continues to roar ahead, this led to the selection process for this year’s RegTech100 to be one of the most intense and sought after to date. A panel of analysts and industry experts assessed a longlist of nearly 1,500 businesses, which was produced by RegTech Analyst. They looked to highlight the technological solutions as well as risk and compliance offerings that all financial institutions need to be aware of in 2025.
This year’s RegTech100 welcomes some exciting and transformative companies including ACTICO, Armadillo, Cascade Lab, COMPLY, Comply Exchange, CUBE, Fincom, FinScan, Flagright, FOCAL by Mozn, FullCircl, Fynhaus, i-Hub, Know Your Customer, LexisNexis, Luware, MyComplianceOffice, RequirementONE, S&P Global Market Intelligence Cappitech, Salv, SmartSearch, StarCompliance, Trustfull and Vectice
The RegTech Association (RTA) announced at their AGM on 22 November, the appointment of two new board directors, the reappointment of one returning director, and the launch of a new global ambassador program.
Effective 22 November 2024, the new appointments of Alexandra Dawson, Juan Perez, and the reappointment of Will Liang, add strength, experience, and corporate continuity to the current Board. They will provide industry support as the RTA continues its remarkable growth since being established in 2017.
Additionally, the RTA have launched a global ambassador program. Representatives have been drawn from member firms worldwide. This initiative will provide the RTA reach into localised RegTech markets while supporting the overall brand and mission.
Jasper Poos, Chair of the RTA said:
“Our new directors have been elected by members of the RTA. This process reflects our commitment to a ‘for industry, by industry’ approach, driving the organisation forward to achieve its strategic and growth objectives. I’m delighted to have Alex and Juan join us and to see support for Will’s reappointment.
On behalf of the Members and wider eco-system I’d like to acknowledge and thank Jo Mikleus and Rebecca Engel for their support and strategic advice over the past 3 or so years. To the co-founders of The RegTech Association past Chair Julian Fenwick and Lisa Schutz for their leadership and vision in establishing the RTA and charting the course for the global centre of excellence. Deep gratitude to them all.
We are also excited about announcing our new global ambassadors – this is a first for us enabling representation across a wide geographical spread. I encourage you to reach out to the ambassador closest to you.”
Deborah Young, CEO of the RTA said:
“I’m delighted to have new directors on board and launch our ambassador program to guide and support our initiatives.
The new directors have been long term supporters of the RTA. We are looking forward to working with them over the next three years to realise our goals for impactful promotion, growth, engagement, and value for members.
The ambassadors are representatives from our member firms who will act as local beacons for connection and create greater global opportunities for the RTA.”
New Board Directors:
Alexandra Dawson – Regional Customer Executive Head, Asia Pacific – CUBE Alexandra is a senior executive with extensive experience in risk management, program delivery, transformation, and regulatory compliance across financial services and government sectors.
Juan Perez – Principal Lawyer – Quest Legal Juan is a lawyer and finance executive with expertise in brand protection, intellectual property, IT, finance, and commercial law.
Returning Director:
Will Liang – Executive Director, CTO, Asset Management – MA Financial Group Will is the Executive Director of MA Financial Group and oversees their data, technology, and AI initiatives. Will is a returning Director and has performed the duties of Treasurer since 2022.
Global Ambassadors:
Mark Tyndall – Neota Logic – Australia Mark is a lawyer and automation technology specialist working with corporate legal, procurement, risk, and investigation teams to get the best out of their processes, people, and technology.
Deborah Algeo – Zodia Custody – Singapore Deborah’s passion stems from a decade of working at the intersection of finance and technology, where she’s witnessed the transformative power of streamlined compliance and the potential it unlocks for scalability and growth.
Fiona Davies – GBG PLC – United Kingdom Fiona has been part of the RegTech industry for over 10 years and has seen, firsthand, how RegTech vendors of all sizes are creating transformational change with new products and solutions.
Colm Dowd – Engage Hub – United Kingdom Colm is a highly experienced programme manager, financial advisor, and technology and risk transformation expert, leading regulatory technology at Engage Hub.
Tom Merriman – Gungho Marketing – United Kingdom Tom works closely with technology vendors to help aggressively grow their global footprint and drive new revenue.
Nicola Cowburn – Gieom – United Kingdom Nicola has been a supporter of the RTA since its inception in 2017. She believes RegTech is a game-changer in our quest to safeguard financial entities, consumers, and the financial ecosystem as a whole.
Marc Gilman – Theta Lake – United States of America Marc is a technology attorney and compliance executive with 15+ years of law, financial services, and IT experience. His focus has been on global technology-related legal and regulatory issues such as information management, privacy, cybersecurity, RegTech, AI, and SEC and FINRA regulation.
The RegTech Association (RTA) today released their annual Industry Perspectives Report. This report is the result of a global survey to institutions, regulators, financial authorities, consultants and RegTech/SupTech firms. Data analytics for the report was provided by Deloitte.
“We take pride in this global annual data initiative, which provides contemporary, market-driven insights while driving actionable outcomes to benefit the broader RegTech and SupTech ecosystem. By developing strategies and actions from this research, we can more effectively address the challenges faced by each stakeholder group while creating opportunities for RTA members.
The RegTech industry continues to mature, showing another year of strong growth. For the second year, data reveals that customer expectations remain the primary driver for RegTech adoption. The report also shows regulators continue to be highly engaged, while Fraud and Scams have entered the top five risks addressed by RegTech, reinforcing what we have anecdotally known for some time. Additionally, new sectors such as healthcare and telecommunications are beginning to recognise the advantages of RegTech.
Our next steps as a global association include a focus on AI, specifically Generative AI applications for RegTech and SupTech. We aim to collaborate globally to highlight the role of innovative technology in reducing risks related to Fraud and Scams. This includes working with global institutions to showcase solutions that reduce this burden enabling them to focus on serving their customers. We will also partner with regulatory agencies to ensure that financial systems remain stable while keeping pace with the latest technology.
I’d like to thank and acknowledge the team from Deloitte for their support of this important initiative.”
Sweta Maira, Partner at Deloitte, Data & Digital, Audit & Assurance said:
“Regulatory pressure, customer expectations and organisational efficiency continue to be significant drivers for RegTech adoption.
Over 73% of respondents believe that Generative AI will substantially transform the industry within the next one to two years, particularly in areas like Regulatory Compliance and AML/CTF/Sanctions.
With continued innovation and a focus on addressing key challenges, the industry is well-positioned for growth in the coming years.”
Regulatory Engagement: Regulators remain highly engaged with a strong appetite for RegTech/SupTech solutions.
Key Drivers for Adoption: Customer expectations and regulatory pressure are significant motivators for adopting RegTech solutions.
Time to Value: The average time from initial conversation to full deployment has stabilized at 8.1 months. Top Risks Addressed by RegTech: Regulatory Compliance, Compliance, AML/CTF/Sanctions, Operational, and Fraud and Scams.
Top Adopting Sectors: Finance, Insurance and Superannuation, Government Administration, Healthcare, and Telco
Revenue Growth: Most RegTech companies expect strong revenue growth, with 26% anticipating over 30% growth.
Funding Environment: Private equity investment is up, while bootstrapping and angel investment have decreased.
Technology Trends and Solutions
Generative AI: Expected to substantially transform the RegTech industry within the next 1-2 years, particularly in Regulatory Compliance and AML/CTF/Sanctions.
Adoption of AI: 67% of organizations are using Generative AI, with significant adoption of Machine Learning (62%) and Natural Language Processing (50%).
Next Steps for The RegTech Association
The report provides data-backed evidence and emphasises the need for priority and focus for the RTA going into 2025.
Download the report.
With a clear vision to be a global centre of excellence by facilitating the building of higher performing, ethical and compliant businesses through RegTech innovation and investment, The RegTech Association was founded in 2017 as a non-profit organisation that focuses on what is needed to support the growth of the sector and to accelerate RegTech adoption. We support our members to embrace and adopt best practice Environmental, Social and Governance principles.
The association brings together government, regulators, regulated entities, professional services and founder-led RegTech companies to ensure collaboration between all of the parties, promoting the RegTech industry as widely as possible, resulting in action in the uptake of RegTech proof of concepts and deployed RegTech solutions across the eco-system.
Deborah YoungCEO members@regtechglobal.org
The AI Lab provides a pathway for the FCA, firms and wider stakeholders to engage in AI-related insights, discussions and case studies.
The FCA's AI Lab adds a new Artificial Intelligence (AI) focus to their Innovation Services, supporting innovators as they develop new AI models and solutions.
They want to enable the safe and responsible use of AI in UK financial markets, driving growth, competitiveness and innovation in the sector.
The AI Lab will support the FCA in deepening their understanding of the risks and opportunities AI presents to UK consumers and markets, and help inform their regulatory approach in a practical, collaborative way.
The first components of the AI Lab include:
Projects accepted to the AI Spotlight will provide a real-world insight and practical understanding into how firms are experimenting with AI in financial services.
Projects selected for the AI Spotlight will be featured on a dedicated Digital Spotlight webpage, offering a valuable repository of practical solutions that showcase applications of AI across specific themes. Innovators can also take part in a Showcase Day at the FCA London office on 28 January 2025.
Applications are now open. Download the participation pack (PDF) for full details.
Apply for the AI SpotlightLink
Bringing together industry, academics, regulators, technologists, and consumer representatives, The FCA will host an AI Sprint at their London office on 29 and 30 January 2025. This AI Sprint will help inform their regulatory approach to AI and how they can create the right environment for growth and innovation.
Applications for the AI Sprint are now open. Download the participation pack (PDF) for full details.
Apply for the AI SprintLink
The FCA invites all stakeholders to have their say on the future of AI in UK financial services through an online feedback platform. They look forward to hearing your views on the most transformative use cases, how their current framework works and how they may need to adapt in the future.
Have your say
Looking ahead, The FCA will run AI-focused TechSprints and enhance their Digital Sandbox infrastructure through greater computing power, enriched datasets and increased AI testing capabilities. They look forward to inviting firms to collaborate and experiment in new ways.
The FCA have been monitoring and supporting innovation in AI for many years. Their approach is rooted in the latest evidence and expertise.
The FCA continues to deepen their understanding of how AI is being deployed in UK financial markets while monitoring it within their existing, wider regulatory framework.
Read more about their approach to AI.
© 2023 The RegTech Association