regtech

Newsweek and International Business Times are to host a Regtech and Identity event on 13 and 14 June 2017 at the Royal Institution in London's Mayfair.

The event, which is taking place in association with University College London (UCL), will bring together compliance experts and technologists from regulators, banks, fintech start-up companies and academia to discuss the intersection of regulation and technology and how it can benefit the financial services sector.

More from IBTimes UK

UCL Professor of Computing Philip Treleaven, director of the financial computing centre, said: "Financial regulation is estimated to cost $280bn per annum and involve 10% of workforce. RegTech is therefore crucial for an efficient and effective financial services industry."

Professor Treleaven will discuss projects underway to put an intelligent front-end on the FCA Handbook and use social media analytics to detect market abuse, such as binary options companies.

The concept of Algorithmic Regulation will be explored, as a way to stream compliance, social networks data and other kinds of information from different sources to a platform where compliance reports are encoded using shared ledgers. As such, regulations are codifiable and executable as computer programs, using the same technology being developed for blockchain smart contracts.

There will also be detailed examination of areas like PSD2 and strong customer authentication, AML and machine learning, and blockchain as a reference data storage layer for KYC procedures.

Charles Delingpole, CEO at ComplyAdvantage said : "With the intensification of globalisation companies and regulators around the world are under significant pressure to respond to a range of risks, from terrorism to fraud.

"As such, being able to adhere to both the letter and spirit of regulations is at the forefront of many executive's minds. The Regtech and Identity conference will be a great opportunity for the vanguard of the industry to discuss and collaborate to address these shared challenges together".

The formal registration is now open for delegates; register you interest in the event of find out about sponsorship opportunities here.