A Regtech Manifesto;
Redesigning Financial Regulation
for the Digital Age

Financial regulation needs to convert from analog to digital design. This paper is a Request for Comment (RFC) calling for gradual but urgent conversion of the financial regulatory system to a “digitally-native” framework – that is, to a system that will be rebuilt over time to leverage the power of digitization to make things work better, faster, and cheaper, all at once.

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Max Pool
Max Pool
August 1, 2020 12:07 am

This paper is a well thought and complete landscape of the problems that are quickly facing regulation, banks, and the technologists attempting to serve the industry. The quick recognition that the hurdles in the journey towards implementation and adoption come in many flavors (i.e. technical, social, and legal barriers) was especially appreciated. Before I field the request for comments, a disclaimer: I have never been a regulator so I can only speak from my experiences and perspective.  As a co-founder and principal technologist of a fintech (Sycorr) that serves in the IAM space between BankOps, SecOps, and RegTech – my view… Read more »

Carl Hoffman
Carl Hoffman
August 10, 2020 4:37 pm

I’m genuinely enthusiastic about the Regtech Manifesto. You’ve identified the key elements of a regulatory framework more efficient, transparent, and equitable than what exists in most countries today. I believe trying to push new ideas through old institutions will take more years than any of us have. Compare the pace of regulatory progress with this collaborative history regarding the Novel 2019 coronavirus genome. Such rapid collaboration would be impossible if the only paths for information exchange were refereed journals and government-approved channels. I’m optimistic that vaccines will be widely available within two years of sequencing the genome. With all due respect to your profession, developing vaccines is… Read more »

Ben Morris
Ben Morris
August 23, 2020 6:23 pm

This manifesto does a fantastic job of framing the issues and setting a path forward. It is the beginning of a critically important conversation.

I’ve made a number of other detailed comments here:

Robert Merrick
Robert Merrick
August 26, 2020 8:58 pm

As a regulatory GRC professional based in Toronto, I am pleased to offer my Canadian perspective on RegTech and the work that has to be undertaken in order to transition to a “digitally-native” framework as AIR put so well in its RegTech Manifesto. It seems to me that there is mutual benefit in Canadian and U.S. collaboration on fostering the RegTech transition. Canada’s financial landscape has a broad mix of players with the large FIs playing a central role in setting the tone for the economy and its participants. At the same time, participants are operating within a highly regulated… Read more »

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