Last week we held our 2018 first RegTech Roundtable. With invitees from regtech solution providers to representatives of financial institutions and consultants, we endeavoured to establish a mandate for our RegTech community.

Over croissants and coffees, the breakfast provided ample discussion in the larger group as well as more personal discussions and, of course, networking. We also had wonderful views across Amsterdam from our Monidee’s office in Amsterdam Zuid.

Recognising RegTech as a necessary subsection of the wider FinTech ecosystem, it is important to look to the future of this industry. Much discussion of compliance is around righting past wrongs or simply applying legislation. A major take away from the roundtable was that compliance solutions should be future oriented and have a holistic approach.

From our hosts, Monidee, we were joined by Pim van den Boom and Detlev Wijnhoud. Other attendees were Julia Jessen from Accenture, Hans Wanning from APG, Sebastian Kuntz from Belleron, Mark Roelands from Orchard Finance, Rick Bonhof and Arjen Koomans from Synechron, Patrick Ryan from KYCNet, and Finn McClain from CyNation.

The members event overall was a great chance to establish how regtech should be defined. RegTech is broader than regulatory compliance. Internal compliance is a major component of the compliance function, as is crime prevention and risk management.