Fintech Australia and The RegTech Association are eager to work with the new Labour government.

“We’d like to see the incoming Government support RegTech to an even greater degree. Expanding its thinking around applications for RegTech across an even wider range of regulated verticals. We enjoyed an open dialogue and open-door policy with the former Government and would want this to continue, expand and increase,” Ms Young said.

Read more here.

Congratulations to Clear Dynamics who have recently completed their $35 million Series B funding round, led by existing investors Colinton Capital Partners and OIF Ventures.

Clear Dynamics uses AI to automate the software development process, which allows organisations to quickly create software solutions.

Read more here.

Arctic Intelligence is currently conducting their annual AML Insights survey. Taking part in the survey will give you full access to the paid version of their AML Benchmark Report.

Some insights from the 2021 AML Benchmark Report include:

- 53% of companies perform an enterprise risk assessment once a year, with 25% conducting them as often as business changed.

- 21% of respondents were unsure of how long an enterprise risk assessment actually took, because it was either an external process or a fragmented internal one.

- 69% of respondents claimed that digitisation had provided at least two significant improvements for their risk assessment process. These include more effectiveness in understanding AML risks and demonstrating compliance, as well as having more confidence in their risk assessment process with a centralised documentation repository.

The RegTech Association CEO Deborah Young joins the recently expanded Global Council for the Alliance for Innovative Regulation (AIR).

This will serve as a great opportunity to continue the global discussion of #RegTech and will serve as a vital platform for contributions, conversations and outcomes.

Read more here.

Congratulations to RegTech Association member FrankieOne, for winning this year's #AccelerateR Award 2022.

Each year, The RegTech Association awards a Founder-Led RegTech firm with best pitch by awarding our #AccelerateR award. In 2021 we saw the momentum building around Environmental, Social and Governance (ESG) impacts for companies and institutions across multiple sectors and the growing level of importance of ESG to investors. This year's PitchFest focus is based on this momentum with applicants asked to show how their solutions aligned with ESG and how it demonstrates deep connection and potential impact to ESG goals and objectives.

FrankieOne were the judges choice due to being the best at articulating the problem they solve, the solution and market appetite, the business model and scalability, relevance to ESG and most of all, the best pitch delivery on the day. 

Rather than awarding a trophy, the Association has made a donation to the First Nation’s Foundation – an Australian Indigenous Financial Literacy Foundation – thus supporting greater financial inclusion.

Read this interview with Jesse Arundell from CBA and Deborah Young from The RegTech Association on the RegTech imperative

https://www.commbank.com.au/articles/business/foresight/regtech-transforming-compliance.html

Innovation Aus introduces the appointments of The RegTech Association's new Chair Jasper Poos and new Deputy Chair Leica Ison. Read more

The RegTech Association (RTA) is announcing a new Chair for the Association, Jasper Poos, General Manager Performance and Risk Transformation at the Commonwealth Bank and Deputy Chair, Leica Ison, CEO and Founder of Skyjed, a RegTech company. Read the media release here.

The Australian Government announced today that they will be investing over $33 million in RegTech to save SMEs and farmers millions of dollars and to increase efficiencies.

“RegTech is a game changer in solving compliance and regulatory issues, but this innovative technology will also deliver results for the environment, the economy, farmers and business owners,” says Minister Morton.

Read more here.

The Australian Federal Government has announced that they will be committing $2.8 million over the next 18 months to improving the digital approach and practical processes to legal documentation.

"We want to make it simpler for individuals and businesses to complete legal documents," the Attorney-General said.

Fore more information, click here.