“Reflections on collaborating with the
GRCTC 2 Years on”
14 December 2016
www.capital-edge.co.uk
l
48 Martello Street l
London
l
E8 3QP
Agenda
• About Capital Edge
• How we see our role in the Centre, why should FinTec’s
become involved?
• Whats happening in RegTec?
• What have we got out of working with the Centre?
• What has the Centre got from Capital Edge?
• Lessons Learned and Future Opportunities
2
Capital Edge Strategy and Core Values
Specialised in Capital Markets, Front Office
Trading, Regulatory, Compliance, Risk, and
Technology Services providing expert Change
delivery and interim management experience and ensuring
engagements are account managed.
To be a trusted advisor to our customers
through deploying knowledgeable, delivery focussed,
experienced people on assignment, with experience
directly related to the business impacted.
Practical, business led approach to our
assignments placing the needs of the Business at the
centre of our analysis, design and delivery, and maximise
the benefits of our assignment.
Building partnerships with Fintec companies
and utility service providers to build offerings that
enable customers to adopt them effectively.
Murex - Trading and Risk
Utilities – KYC.com and DTCC
Semantics technology - GRCTC
Identity Authentication - AuthenticID
On boarding - Fenergo
To provide these services at a significant discount to the Tier 1 & 2 Consultancy houses in line with our
Core Values Expertise. Value. Integrity
3
The Rise of RegTec
•
•
Confidential
GRC accounts for:• 15-20% of Run the Bank
cost
• 40% of Change the Bank
costs for the global
brokers (G-SIBS).
Substantial benefits from
working with regtech firms.
• Enhanced
Customer
experience
for
customers
• More
effective
regulatory compliance
• Greater cost efficiency.
4
CE’s Involvement in the Centre
• Providing insight into the challenges that Banks face, so as to assist the
centre in developing its research agenda
• Devising Use cases to test the research within regulated firms
• Raising industry awareness of the centres goals
• Building networks with centre members
• Defining strategies to commercialise the research, seeking investment
• Connecting the Centre with potential users of the research once
commercialised
• Significant in kind contribution. Approximately 175 person days of
partner level effort over 2 years involvement in the centre (.4 FTE) or
10% of annual turnover.
5
What have we received in return?
•
•
•
•
Education and Training
Business Development opportunities
Brand association
Exposure to the GRCTC’s research expertise and artefacts,
in considering how our offerings might incorporate them
• Teamwork and Support
• Significant co-operation and support from all members of the centre
in developing proposition – the staff at the centre are its greatest
asset.
6
What have the Centre received in Return?
•
•
•
•
Access and co-ordination with the Financial Community
Support for Testing and Validating the research
SME Input into the Research and Design process
Feedback on commercialisation opportunities for the
Research
7
Lessons Learned
• Excellent Knowledge sharing and R&D opportunity
• Cost of effort manageable for 1 Mio Euro Turnover Fintec
• Allowed CE to position itself as an innovator through close
association with the Centre
• Plan for commercialisation needed to be more focussed –
time lost, CE gained experience
• Finding partners requires due diligence and shared values
• Trust and shared values between the centre and the
management team need to be established and are critical to
success.
8
The Future
9
End-To-End Process for Content Consumers
Industry wide
Regulatory
directive
Financial firm specific Software Development Life Cycle (SDLC) and tooling
Ganesha
tool
containing
Base
Vocabulary
and Rules
SDLC phase
Business
requirements
definition
Development
Testing
RRC from IBM
RTC from
IBM
RTC
RTC
Quality
Centre
JIRA
JIRA
JIRA
CVS
Winrunner
WORD
Excel
Data standards
(Enterprise Data
management
council)
Technical
design
DOORS from IBM
XML / HTML
interface
Industry supporting services
Regulators
verification
(E.g. PRA, EBA,
HKMA)
Functional
requirements
Business process
implementation
Tooling
Automated
interface possible
Manual process
Components part of Proof of
Concept
10
Regulatory Clearing House
11