The Rise of RegTech and why it's the next big thing in banking

Running a thriving organization that can stand the test of time requires a 360-degree understanding of the entire business. Finance leaders need to rely on data to more effectively optimize costs, prioritize investments, and ensure liquidity and profitability. This data-driven approach will not only allow them to address the current crisis we are in, but it will also help them sustain success in the long run.

In this webinar, we will discuss how finance leaders can Leverage AI to automate data consolidation, cleansing and linking to gain a complete 360–degree view of the business
Automate financial close and reporting data processes to understand the financial position better.

Gain transparency over the cash to cash cycle to improve cash flow and working capital management .

Quickly adjust forecasts and plans in response to changes in demand and supply

In today’s digital economy, fintech and financial services providers are looking for ways to meet varying customer service needs and preferences to deliver 24/7 proactive, real-time service resolutions to customers. The best modern support experiences leverage AI to give customers a personalized and seamless experience across all channels.

Emerging Conversational Intelligence technologies have evolved from rule-based chatbots and have introduced next-gen Conversational AI for autonomous customer interactions and Conversational RPA for streamlining business processes. Conversational AI and Conversational RPA help organizations auto-resolve customer requests and automate business workflows, tasks and actions, improving internal service desk productivity while boosting customer satisfaction.

Key Takeaways:
Why chatbots evolved to Conversational AI for instant user self-service
What it takes to leverage out-of-the-box AI solutions to accelerate service delivery
How Conversational AI and RPA improves user experiences at scale for 24/7 business continuity and support

The FinTech industry is gaining momentum in disrupting the financial services industry. Artificial intelligence on the other side has been around for some time and has been used by Big Tech companies to establish themselves in their respective industries. To gain a competitive edge FinTechs are increasingly leveraging AI based models.

Join this webinar to get an overview and discussion of FinTechs using different AI technologies.

As we move into 2021, fintechs are getting stronger. However, developing a modern scalable architecture and solution in the cloud still poses a problem. We will discuss new approaches for leveraging data and how to build a modern data platform and solution.

Join us as we discuss:
-How to be data driven in your fintech?
-Top 3 areas to consider when thinking about data
-What strategies do you use to think about data in your business?
-Principles of new architecture thinking for data

Speakers:
Alpesh Doshi, Founder, Fintricity
Daniel Pass, CTO, Perenna

Digital Transformation and the opportunities to use data in Analytics and Machine Learning are growing exponentially, but so too are the business and financial risks in Data Privacy. The increasing number of privacy incidents and data breaches are destroying brands and customer trust, and we will discuss how business prioritization can be benefit from a finance-based data risk assessment (FinDRA).

More than 60 countries have introduced privacy laws and by 2023, 65% of the world’s population will have its personal information covered under modern privacy regulations. We will discuss use cases in financial services that are finding a balance between new technology impact, regulatory compliance, and commercial business opportunity. Several privacy-preserving and privacy-enhanced techniques can provide practical security for data in use and data sharing, but none universally cover all use cases. We will discuss what tools can we use mitigate business risks caused by security threats, data residency and privacy issues. We will discuss how technologies like pseudonymization, anonymization, tokenization, encryption, masking and privacy preservation in analytics and business intelligence are used in Analytics and Machine Learning.

Organizations are increasingly concerned about data security in processing personal information in external environments, such as the cloud; and information sharing. Data is spreading across hybrid IT infrastructure on-premises and multi-cloud services and we will discuss how to enforce consistent and holistic data security and privacy policies. Increasing numbers of data security, privacy and identity access management products are in use, but they do not integrate, do not share common policies, and we will discuss use cases in financial services of different techniques to protect and manage data security and privacy.

Join to discover:
- Trials, POC’s and full-deployments of blockchain technology in real corporate business processes
- Examples outlining the benefits of implementing blockchain technology
- How start-ups, businesses, and individuals can apply these trends in their organization

In 2020, the importance of privacy to consumers increased as the pandemic drove digital engagements, according to Deloitte. The media drives awareness of security breaches, making consumers hesitant to share personal data unless incentivized. When they do, they are at risk because data privacy policies are not comprehensive at some financial institutions. Communications regulations are followed, but they often lack personalization and transparency. Data treatment is also an issue, as employees often contribute to security breaches.

New digital banks offer more transparency and a more modern customer experience, so consumers leave traditional banks. How can more financial services institutions create data privacy policies that keep their customers safe & reduce churn?

Join this webinar to understand:
The importance of a data security policy for financial institutions
How to obtain and handle external data effectively.
How to manage internal data effectively.
How to reduce the frequency and impact of employee-created breaches

Speakers:
Carol Nolan Drake, Founder & President/CEO, Carlow Consulting LLC
Others TBD

The Clean Energy Package’s Electricity Directive establishes a new framework towards a customer-
centric and sustainable energy system. Since Distribution System Operators (DSOs) connect both the
vast majority of renewable generation and customers distributed energy resources, they play a vital
role in the energy transition. DSOs in their natural role as neutral market facilitators welcome every
development which helps customers to make better choices. Thus, DSOs’ customers will be the core
of the future energy system, getting more active by monitoring their energy use, carefully choosing
their supplier and service provider, producing their own electricity, and selling flexibility to third
parties
From DSOs perspective the energy data exchange is the important to a more customer-centric
energy system, and DSOs seek high engagement in respective European work streams to support
data interoperability.
Join this webcast to explore the following:
*How customers will be able to monitor their energy use, carefully choose their supplier and
service provider, producing their own electricity, and selling flexibility to third parties.
*How DSOs will manage the data and share them with third parties
*How DSOs and TSOs can further cooperate for the benefit of customers, pursuing the “one
system approach” to avoid isolated solutions and facilitate new third parties’ scalable business
models.

The change in consumer behavior (largely forced by the global pandemic) towards digital tools and the increase in cybercrime against critical infrastructure, highlight the need for banks, both digital and traditional, to offer measures security to protect the identity and assets of its customers. The growth of digital banking and its vulnerabilities will cause four trends in 2021

- Legislation on financial technology and digital banking will modernize Latin American banking.
- An increase in cybercrime will put consumers and financial institutions on alert
- Better consumer protection through artificial intelligence, machine learning and biometrics
- Banks and technology will come together to collaborate and innovate

The COVID-19 pandemic changed the way that consumers shop and buy, and especially how they pay. Some payment trends that were underway prior to the pandemic, like Buy Online/Pickup In-Store and contactless/touchless payments accelerated, while in-store retail essentially shut down in many categories. Others, like QR code payments have emerged in markets that have been chip card bastions for years.

As nations get back on their feet post-vaccination, some of the trends that emerged in 2020 will continue while some payment activities will revert to pre-COVID-19 behaviors, or possibly disappear altogether. What will the payments space look like post-Pandemic? This webinar will identify the payment trends that have emerged, the trends that will continue as the pandemic abates, and trends that will slip into oblivion in the future.

The global COVID-19 crisis certainly accelerated digital transformation efforts across industries. However, the payments ecosystem has remained locked to the legacy infrastructure, messaging protocols and entry barriers that have existed for decades, created by the global credit card brands that manage and control who gets to participate in this ecosystem. The business motivations to move beyond the technology that has supported retail payments are there:

*Very expensive PCI certification costs to get access to the network
*Very expensive setup and operational costs from unreliable POS terminals with limited functionality
*Very expensive intermediation fees, needed to pay for the credit card brand, the bank, the network and other middle-persons
*Very little control over the collection of revenue due to complex reconciliation processes between brands, banks and networks
*High exposure to fraud, as this is the best understood, most exploited way of making illegal money across all countries.


Fintech companies should jump into this opportunity with the determination that other disruptors have shown in the past. The cost of building protocols and networks in parallel seems unbearable but the motivations and tools are there for those who dare. Huge economies like India and China have leapfrogged entire generations of technologies, simply by the fact that their countries could not, or would not invest in the past in the technologies being used in advanced economies. Thanks to this, we see how fintech companies are thriving in Africa and India, going directly into a future where payments are designed to run on top of what people use on a daily basis to interact with others. No need to explain the huge success stories of WeChat and Alipay, which, among other platforms in China, designed for simplicity and from scratch, to dominate the way payments will be done in the future, totally outside the world of global banks and credit cards.

2020 was a standout year for the digital banking and payments industry, with the total transaction value projected of payments to reach $4.9 trillion. Consolidation was also widespread, with 63 acquisitions worth a total of $158, according to data by S&P Global. Big Tech continued to pose a threat in the fintech space, with Whatsapp beginning to offer payments in India and Google Pay adding support at 89 new banks. This competitiveness will not slow down, as the fintech industry grows by a projected 400 by 2025, according to Statistia. How can digital and legacy banks alike compete?

Join us as we discuss:
The strategic implications of acquisitions in 2020
How fintechs can stay competitive in 2021
What fintechs can learn from Big Tech

Speakers:
Jennifer Lee, Principal, Edison Partners (Moderator)
Michael Hobbs, Founder, Reputable Consulting
Alex Mashinsky, CEO, Celsius
Nida Naeem, UK Innovation/Automation Lead for NSE, Data Science Leader and Senior Manager Analytics & Modelling, Deloitte
John Mitchell, CEO, Episode Six

The tide has truly turned. Banks are adopting the cloud faster than ever before, and materialising real value for their customers. Once considered a distant ambition, cloud technology has firmly proven itself to be the enterprise-grade infrastructure of choice for the most ambitious and successful technology companies in the world. Now, the banks are taking advantage of the cloud.

What does this spell for the future of banking at large? And how are customers seeing the value day-to-day? Travers Clarke-Walker, Chief Marketing Officer at Thought Machine explores the specific characteristics of cloud native core banking, how banks around the world are leveraging modern technology and explores variants of future banking models, products and services.

During the past 200 years, payment terms among businesses have not changed much. The King is a bank letter of credit, which is very secure and avoids the buyer form canceling the order, however, it has several downs as it is very bureaucratic, slow, and expensive; the same happens with credit insurance, payment in advance, escrow systems or credit card, have some pros and cons which are bigger now with covid.
We see a potential market for blockchain payment systems that give trust and fairness to the buyer and for the seller at the same time avoiding fraud.

You will find out about a disrupted solution that solves most of the cons of the mentioned traditional systems, B2B Pay, which allows buyers and sellers to use a trust, fast, and cheap blockchain payment system.

What is the Future of Money? Understanding Facebooks new issues with digital currencies, Bitcoin, Central Bank Digital Currencies and How they could affect usages and what should be Consumer Protection in this evolving environment.

Speakers:
Meirav Harel, COO, IQONIQ
Nilixa Devlukia, Founder, Payments Solved
Dr Estelle Brack, Founder, KIRALIT

DevOps moves quickly, having visibility and the resources to move with it becomes a challenge. FinTech companies need to capitalize on the frameworks and technologies available to gain insight into what is happening with their application and cloud environments. Join Aaron for a discussion on how to see what’s happening, and keep it in compliance with various best practices and frameworks.

A look at how the mighty tech firms are targeting the traditional financial sector, bringing their user friendly tech solutions to change the way we manage our finances, earn rewards and make payments. A powerful combination of:

Nudge Economics is helping to change how we interact with finances; faster and cheaper payment solutions. A range of new types of investments backed not by tangible assets such as real estate, equities, bonds, commodities but by intangible assets such as IP, Data, Loyalty rewards, Software
Disintermediation - of brokers, clearing houses, agents, market makers etc.

Increased levels of customer service - 24/7 trading using mobile devices, more frequent income payments based on the number of hours an asset such as a property, equity or bond has been owned.