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RegTech is new FinTech
25 September 2020, 10:33
Compliance enables innovation ! Therefor DX provides the right tool for Compliance and Risk Professionals to move faster.
But enabling faster innovation needs not only the best Tech it also needs the right mindset as Innovation also brings risks. Compliance does not come alone from hiring best people and buying the best and latest tech as it is an infinite Game.
Many of you might read the latest book of Simon Sinek. Its worth having a look as it describes something that we all know very well as it plays in Gaming theory as a concept that we are very familiar with.
Sinek is not the first who wrote a book about this social anthropological phenomena
1. Finite Game
In the world of games you have infinite games and finite games. “Finite games like football, rugby, chess, the players are known, the rules are fixed, and the endpoint is clear. “In infinite games, like life, business or politics itself, the players come and go, the rules are changeable, and there is no defined endpoint.”
We at DX Compliance from a leadership perspective implement in our day to day culture and our startup DNA the infinite mindset as we also have seen many Compliance and risk professionals adapt quickly to the new normal.
It s a game of consent improvement and constant growth. As the growth mindset is important for everyone as most of us at DX are obsessed with learning. There is always the opportunity to grow.
A infinite mindset is important to have because without it you can not create the best product. It is always from a founders Perspective how to make us better than last year as it is in a startup a continuous improvement process.
In Regtech many of you might speculate how the market is developing when it comes to the vendor site. From my perspective:
2. Innovation needs Creativity
In Regtech Advance Analytics can help you make better (smarter!) decisions every Day. Ethics and responsibility is an important factor to consider evaluating a Regtech provider.
Is this company highly ethical – ethics matters in the future of Regtech ! The age of surveillance capitalism is knocking on many Regtech doors we at DX closed them very early on, because we respect privacy.
Regtech should help you to move your business faster and should not be seen as a cost center. Enabling faster innovation for your core business is one of the main reasons to choose Regtech as an innovation enabler.
3. Proactive collaborative approach
Regtech should always enable you for a proactive and collaborative approach moving away from Reactive workflow optimization to advance analytics that enables you to use data smarter. Collaboration is a powerful way to drive value. DX provide an AML Solution that help our customers increase efficiency and reduce costs and burdens in AML Compliance
A call for Doers and Disrupters. We at DX are on the way ahead and so are our customers.
Eliminating ML/FT risk in the UAE
Financial institutions rely on outdated and inefficient software to handle their compliance needs
Selecting the Right Approach
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