ASIC has launched three regtech events in conjunction with industry and other stakeholders to promote regtech adoption among Australian financial services organisations.
These events are an opportunity for regtech startups and financial services organisations' in-house development teams to demonstrate how they can provide solutions to three key issues, which are:
- Monitoring, identifying and analysing financial advertising to determine compliance;
- Improving the detection of problematic financial advice in datasets; and
- Demonstrating the capabilities, benefits and costs of applying voice analytics and voice-to-text research and analysis to regulatory activities.
"There is a real need for new regulatory approaches, which is why ASIC strongly supports the development and adoption of regtech solutions in the financial services sector to provide better outcomes for consumers," said ASIC commissioner John Price.
"Regtech is something we are keenly interested in, both as a consumer of products and a facilitator of engagement more generally to ensure innovation in this area is utilised."
ASIC is encouraging those with innovative regtech to register and showcase the solutions to representatives from government, finance, technology and media.
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The events will be held in August.