RegTech imperative for Financial Services

Proactive, pre-emptive, real time monitoring and oversight, is the future of Financial Services. 

Who is Advice RegTech? We are an active, collaborative partner and subject matter expert, helping to raise the quality of outcomes for participants - licensees, financial advisers, compliance, senior management and directors of the banks and wealth managers.  

Advice RegTech's subject matter expertise, collaborative partnership approach and technology solutions can be leveraged by your inhouse teams and your professional services firms, to enable effective and efficient monitoring and oversight of Statements of Advice and best interest duty to consumers. 

RegTech Regulatory Technology

RegTech (Regulatory Technology) enables organisations with regulatory, monitoring and surveillance responsibilities the ability to more effectively oversee their industry participants to protect consumers. 

Best Interest Duty to Consumers

The Royal Commission into Banking and Financial Services has exposed massive regulatory compliance issues and inefficiencies, especially around financial advice not being vetted early to be in customers best interest. This has cost the sector billions.

Designed to solve for this at source, Advice RegTech’s engine helps to pre-check advice documents for regulatory compliance in an engaging and effective way. It enables pre-emptive, proactive risk management, reducing the compliance review burden. It is designed to scale the effectiveness of AFSLs and reviewers, to enhance outcomes for all stakeholders - Licensees, Professional Service firms, Financial Planners and Consumers. It is underpinned with a commitment to an ethical AI framework to encourage exponentially effective outcomes.

Australia has been recognised as an emerging global centre of RegTech excellence. Advice RegTech is at the forefront of this. 

Advice RegTech Solutions

Advice RegTech can help AFSLs, wealth management and advice divisions in the banks and life companies, professional bodies and regulators. 

Consulting and software solutions for organisations seeking to improve compliance outcomes to meet regulatory and consumer imperatives. 

- SAMI: Surveillance and Monitoring Intelligence for licensee's oversight of advice quality and audit effectiveness.  Designed to raise consumers' trust and confidence in financial advice, and reduce the cost and burden of compliance for advisers, licensees, professional bodies, and regulators. SAMI is designed to support Licensee oversight of best interest duty and related obligations. Advice RegTech was showcased in ASIC's inaugural RegTech event, and recognised as a Compliance Innovator of the Year finalist in the Fintech Business Awards 2018 and 2017

- KRIS: Key Risk Indicator Solution to predict adviser behaviours is a consulting and software solution inspired by the concerning results from ASIC’s Report 515 of large institutional advice compliance. KRIS is designed for Australian Financial Services Licensees (AFSLs) to assess probabilities and potential risk in their licensed advisers.

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