COVID-19 is placing extreme pressure on regulatory systems and people responsible for identifying, reporting and preventing breaches, especially for Australian mid-market FIs.
There’s more noise to respond to and with approx. 93% being false positives – this is draining analyst resources, driving up costs and preventing risk experts from focusing on the 7% that really matter and need their full attention to solve.
With fines for breaches in the millions, larger financial institutions would – and have – taken a massive financial and reputational hit whilst mid market organisations are at risk of folding all together. To stay in control of risk we need to be more equipped to more quickly identify and act on truths.
Welcome and Acknowledgement of Country | Deborah Young
The RegTech Association is a non-profit industry body whose members are committed to accelerating adoption of RegTech and sustaining a global centre of RegTech excellence.
Panel session - How Australian mid-market FIs can tackle AML and financial crime in a complex COVID landscape and beyond.
Paul Franks (moderator) | Ben Zenick | Deborah Young
- New and emerging AML / fraud trends and risks.
- How to stamp out false positives (approx. 93% of all events) and identify and solve financial crimes faster with data and automation.
- Use cases and customer stories of what enterprise strength AML looks like and value it delivers.
||Thank you and event concludes
About Deborah Young
Deborah Young is the founding CEO of The RegTech Association. Deborah has more than 20 years experience in financial services advocacy and engagement across technology, venture capital, private equity, financial markets, insurance and superannuation. She is passionate about building a community that accelerates deployment of technology that drives productivity and superior consumer outcomes. Deborah is a member of the Federal Government’s FinTech Advisory Committee and in 2019 was awarded an AFR 100 Women of Influence Award for Innovation.
About Paul Franks
Paul has 30 years of professional and commercial experience in senior executive and management roles in professional services and financial services. As a former partner for Deloitte and EY, he has provided a range of financial services advisory and specialised risk, security intelligence, regulatory compliance and assurance services to leading financial services organisations and top 100 ASX corporations.
His financial services experience covers Banking, General Insurance, Life Insurance, Health Insurance, Superannuation and Wealth Management in both professional services and commercial roles from sales to operations and compliance.
Paul is a regular contributor, speaker and moderator on key issues and thought leadership in Financial Services in Australia and New Zealand.
About Ben Zenick
Ben Zenick is CTO and co-founder of Zencos, an analytics-based services company in Cary, NC, which has been ranked as one of the fastest growing privately held companies in the U.S by Inc. 500.
Ben oversees all client solution development at Zencos, managing a highly experienced team of analytic specialists, administration, and support professionals.
Under Ben’s leadership, Zencos has become an elite SAS Alliance partner and has been recognized for its innovative SAS applications that have received numerous awards by SAS, and other industry organizations; most recently CIO Magazine list of Top 100 Most Promising Big Data Companies. His relentless focus on exceeding client expectations and delivering quality solutions is best evidenced by the company’s long-standing client relationships and continuous client referrals. Ben has authored several white papers and presented at industry events on the topics of data warehousing, data visualization, digital transformation, modernization, and analytics.
Prior to founding Zencos, Ben held various solution development positions at SAS.