INDUSTRY OUTLOOK
Bringing onboard a regulator to map out a RegTech strategy can provide you with an analysis addressing the risk factor .
creating something extraordinary will never die .
Success Stories :
• Tyme Bank – We got its regulatory reporting system integrated and running within one month and saved it 104 working days in year three of working with them . We have been getting them reporting on time ever since despite its incredible hypergrowth as a bank .
• Large Bank – Implemented a centralised FinSurv reporting solution to the SARB . This has given the client value through a seamless reporting solution across multiple channels to the client at a quality level they haven ’ t had before .
Synthesis uses innovative technology solutions to provide businesses with a competitive edge today . Synthesis focuses on banking and financial institutions , retail , healthcare and telecommunications sectors in South Africa and other emerging markets .
Luke Machowski , Head of Regulatory Products at Synthesis
In 2017 Capital Appreciation Limited , a JSE-listed FinTech company acquired 100 % of Synthesis . Following the acquisition , Synthesis remains an independent operating entity within the Capital Appreciation Group providing corporate learning solutions through the Synthesis Academy as well as cloud , digital , AI , payments and RegTech services . � sharing , data pooling and cooperative analytics organisations can leverage each other to do joint analysis and assess risk within the financial sector . Stakeholder and relationship management will create a collaborative environment to succeed . Organisations need to create data literacy to grow and develop . This will enable the compliance process where data science will influence pipelines and data will be valued as an asset . Regulators will need to be involved in outlining business strategies for data elements to ensure that they fit into compliance . One thing that will always be a requirement is the need for people to be innovative . As much as technology will continue to advance and processes will be automated , the human element and excitement around
www . intelligentfin . tech
43