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  • #RegTechOpen4Business | How can RegTech drive greater financial inclusion? Application to present

#RegTechOpen4Business | How can RegTech drive greater financial inclusion? Application to present

  • 19 Jan 2022
  • 12:45 PM
  • 27 Jan 2022
  • 10:00 PM
  • Online application

Registration

  • This is an expression of interest to present at the RTA and EY event - How can RegTech drive greater financial inclusion? Please note to apply for this opportunity you must be a member of the RTA. Not a member? You can join here www.regtech.org.au/join

Registration is closed


Now more than ever, financial services continues to harness the power of technology to transform, grow, and reframe the future.

By using our combined capability and reach to address some of today’s biggest societal challenges, we can put RegTechs to the test to find new and innovative ways to change the world for the better.

Our first colab program will be delivered on 22 February and will concentrate on how RegTech can drive greater financial inclusion. We are looking for RTA RegTech members to express their interest for a presentation opportunity for this program that will be marketed to our combined networks and run as a 100% one hour virtual event. There will be a limited number of opportunities. Applications close on 27 January at 10pm AEST.

Please note that EY will be assessing all applications to determine presenters. They will be considering their client-specific challenges and needs during this process and also those that they deem would best meet the eco-system demands right now.  EY will have access to your application information.

We are looking for RTA RegTech members who have solutions that address the following.  Not a member?  You can join here.

  • Access to Financial Services (FS) through social media platforms & other 'non-traditional’ channels
  • Biometrics and digital ID to support those without formal ID document
  • Development and socialisation of an attractive customer proposition
  • Use of data to analyse FS usage and development of strategies to support further usage by those technically 'banked' but not making use of the services they have access to
  • Driving ease of low cost/free payments
  • ESG Capabilities
  • Development of specific entry products and services that solve common challenges for populations that would typically not have access to financial services
  • Providing education to users about the benefits of FS
Entry criteria:
  • You need to be a member of the RTA in the RegTech or Corporate RegTech category. If not a member you can join here.
  • You must be prepared to present virtually on 22 February at 430pm AEST.


What we know:

  • Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance – delivered in a responsible and sustainable way.
  • Great strides have been made toward financial inclusion and 1.2 billion adults worldwide have gotten access to an account since 2011. Today, 69% of adults have an account.
  • Moving from access to account to account usage is the next step for countries where 80% or more of the population have accounts (China, Kenya, India, Thailand). These countries relied on reforms, private sector innovation, and a push to open low-cost  accounts, including mobile and digitally-enabled payments.
  • However, close to one-third of adults – 1.7 billion – are still unbanked, according to the latest Findex data. About half of unbanked people include women, poor households in rural areas, or out of the workforce.