OPEN REGTECH

OPEN REGTECH

2020_FINOS_OSFinancialServicesGraphic_Final (1)

 

WHY OPEN REGTECH?

We believe that Open Source Software, Standards and Best Practices can unlock significant value for financial regulators and the entire financial ecosystem. This lays the foundations for a robust market infrastructure and ultimately boosts innovation and welfare by freeing up resources.

ACCESS TO TALENT
Talent crunch makes it difficult for financial regulators to keep up with technology 
STANDARDIZATION
Common standards used across the industry to meet regulatory requirements
AUTOMATION
Leverage open standards, technology and tooling to automate manual processes
TRANSPARENCY
Access to information and eventually real-time reporting
EFFICIENCY
In policy making and inspection when open standards & open source are used

EXAMPLE USE CASES

Many organizations are already collaborating on Financial Regulation projects in the open. 

ACTIVITIES AND RESOURCES

Open Source for Regulation Overview

FINOS presentation introducing open source with a focus on opportunities in financial regulation.

 

AIR Techsprint on Financial Crime - October 19-23

Bringing together a diverse set of stakeholders to surface new models of traceability and technological solutions to improve anti-money laundering tools and processes around cryptocurrencies.

 

AIR.ed Webinar

On May 7th, 2020, we co-hosted a webinar with the Alliance for Innovative Regulation (AIR) that covered the basics of Open Source and its potential in financial regulation.

 

The Next Frontier: An Open Source RegTech Stack

Mike Stevenson explores open source as a tool to maximize investment in regulatory technology.

 

Waters Technology: Finos Sees Opportunity for Open Source in RegTech Space

In June 2020, Rebecca Natale, Waters Technology, reports on a conversation with Gabriele Columbro, FINOS Executive Director, on the vision and progress of the Open RegTech initiative.

 

What Objections Would A Regulator Have To Open Source?

FINOS member Adaptive argues that RegTech is a strong candidate to become a utility, and to be open sourced. In this article, Adaptive CEO Matt Barrett looks at some of the potential concerns a regulator might have with this model.

 

GET INVOLVED

1: Register your interest in our proposed FINOS Open RegTech Special Interest Group (SIG)
 
2: Become an Associate Member if you are a non-profit, government agency, association, or academic institution involved in regulatory activities
 
3: Sign up below for updates on our Open RegTech initiative