Alex Ford, President, North America at Encompass Corporation & Board Member The RegTech Association recently wrote on the importance of RegTech solutions for banks.

"RegTech solutions have become increasingly critical for banks looking to accelerate digital transformation initiatives to power operational efficiency and ultimately, growth," writes Alex Ford.

Read more here.

The Australia-UK Free Trade Agreement (A-UK FTA) entered into force today on 31 May 2023. The agreement removes tariffs on over 99% of Australian goods exported to the UK.

Learn more about the A-UK FTA on the Australian Department of Foreign Affairs and Trade website here.

The RegTech Association member Decision through Holistic Intelligence who has received almost $1m AUD through the Regulatory Technology round of the Business Research and Innovation Initiative (BRII) grant. 

The BRII is a government program sponsored by the Department of Industry, Science, and Resources (DISR). and the RegTech Round aims to assess the potential of RegTech to solve challenges across government agencies and departments to assist with easier compliance and service delivery.

The five successful businesses have 15 months to complete their prototype or POC and consider how they can scale up and broaden their application.

Read the The Hon Ed Husic's MP Media release here.
Read more about the ASIC's BRII RegTech Round here.

Quantexa announces ING as the latest organisation utilizing their Decision Intelligence Platform in its fight against financial crime. 

“The most effective method to prevent money laundering is by understanding the context underpinning and linking how criminals behave,” says Dan Higgins, Chief Product Officer at Quantexa.

Read more here.

In last week's budget, the Australian Government allocated $58 million in funding to the ACCC to complete the setup of the National Anti-Scam centre over the next two years.

Read more here.

Since their expansion to the US in 2022, AssuranceLab has grown its total client base to 15% US, outpacing its growth in Australia in 2023. AssuranceLab provides audits for global compliance standards to build trust and grow your company.

Read more here.

1WordFlow has used their unique technology to create a Digital Twin (web copy) of every ASIC, APRA, Austrac, ACCC, RBA and OAIC regulation. Every page is a URL and 1-click away.

Read more here – and sign up for your RTA member discount.

The 61st Australian Export Awards are now open for application. The awards are aimed at Australian companies with outstanding international success. Categories include:

• Advanced Technologies
• Emerging Exporter
• Regional Exporter
• Small Business
• Sustainability and Green Economy

Apply here.

The RegTech Association member iCognition announces launch of Ingress, their next-generation content services platform.

Ingress integrates search, information management, security and compliance functions across multiple platforms.

Learn more about iCognition here.
Read the full article here.

Enabling the adoption of sustainable business practices is the way forward for regulatory technology, according to Leica Ison, the deputy chair and non-executive director of the RegTech Association (RTA) — a global, non-profit centre for excellence that is committed to accelerating RegTech uptake.

Read more: RegTech in the driver’s seat as AI, cloud adoption accelerates (innovationaus.com)