RegTech Markets hosted the second event in its ‘Capital Market Outlook’ programme on Tuesday 20th February, for a curated group of market executives in our new home, Fora.

Our first CM Outlook event looked back at 2017 and the ‘year that was’. This second event, in contrast, looked ahead to 2018 and beyond, as our panel of expert speakers shared insights, understanding and experience gained across the Rise of RegTech, to explore what the future held in store for regulatory technology in financial services.

RegTech Market’s own Head of Editorial, Vincent Kelly, kicked off the evening with a short introduction to Smart Contracts – their origin, some use cases, and where they could potentially drive the contractual relationships that define the boundaries between businesses, suppliers, customers and the state.

Following this, RegTech Market founder Mike Wilson moderated a panel debate with a group of expert speakers:

Some of the key insights from the night:

  1. Innovation is typically client-driven – whether that’s for start-ups seeking to generate the largest return on the investment of limited resources; for Legal firms providing advisory services to clients; or for Banks seeking to differentiate themselves in a busy and competitive market.
  2. Demonstrating value to investors, internal leadership or clients is critical – requiring clear focus on specific areas, rather than diluting technology and credibility by attempting to ‘do everything at once’.
  3. Enabling clients to do what they currently cannot – such as aggregating, presenting and analysing Big Data in a secure and cost efficient way – is a significant differentiator.

The evening included a fascinating Q&A with audience participation, covering topics including:

  1. The future of mutualised market data
  2. The future of identity and the rise of self-sovereign data ownership
  3. The focus on business outcomes when marketing / selling solutions
  4. How Regulated firms identify, select and partner with FinTechs
  5. The future of regulating blockchain and crypto-currency activity

Before drawing the night to a close, we asked each speaker to articulate their biggest challenge and how they are overcoming it.

Antonio Virzi:
The sales cycle into financial institutions is typically very long, so for a start-up, surviving long-enough to seal the deal can be a challenge. The solution is a combination of enough funding, focus on a single area, and determination.

Nigel Brahams:
Advising on multiple ICOs at the moment, the lack of regulatory clarity on ICOs risks impacting the quality of advisory services being presented to clients. One approach would be to update regulations, which were largely created to solve the problems post-2008, to address this new development.

Craig Bell:
Balancing the market’s demand for new and inventive ways to leverage their data, with Bank’s internal responsibility to safeguard and protect clients’ sensitive information, is a big challenge – particularly with the risk of data breaches and cyber attacks facing financial institutions today.

Click here to register for future RegTech Markets events.