Glasgow’s growing RegTech ecosystem
The RegTech forum, hosted by the University of Strathclyde Fintech cluster, successfully migrated online in response to lockdown. Its co-ordinator, Dr Devraj Basu, has made the new format a permanent feature on the second Friday of each month, opening up attendance to all stakeholders. The next event - scheduled for September 11 - is a Zoom presentation by Refinitiv on financial crime. The Forum has attracted guests from as far afield as Cape Town.
Professor Jim Senn at Georgia State University, a regular attender at the RegTech Forum believes that: “Glasgow has the opportunity to substantially grow its RegTech industry.” This is supported by evidence from the success of other such ecosystems. Martin Hughes, Strategic Investor Relations Manager at Strathclyde, has experienced similar favourable cluster outcomes in his former role at Scottish Enterprise.
The RegTech forum provides an independent platform for RegTech industry insiders, compliance personnel and regulators to exchange ideas and concepts with academics. It is supported by the University of Strathclyde’s strategic partner, Fintech Scotland. Daniel Broby, Director of the Centre for Financial Regulation and Innovation at Strathclyde Business School said, “Glasgow has the right mix of skilled regulatory risk specialists and focus on the application of Financial Technology.”
One of the ideas mooted by the RegTech forum is the formation of an industry-led RegTech Institute. The vision would be to comment on global regulatory best practice, the application of technology to compliance and oversight, and a competence qualification for middle office personnel in the space.
In order to develop the RegTech research agenda at Strathclyde, the Centre for Financial Regulation and Innovation and the Centre for Internet Law and Policy are teaming up to prepare a joint EPSRC funding bid.
Anyone interested in attending the September 11 RegTech forum should contact Devraj Basu by emailing Devraj.basu@strath.ac.uk.
Published: 8 September 2020
