On slowing #financialcrime, the success of #regtechs, #technology as a tool to mine #data
Markus E. Schulz was this weeks guest on the „Digital Dump“ podcast series. The current episode from 17.01.2022 is about Markus E. Schulz and his risk-view in 2022 and the change, he is forecasting. The Deputy Global Head Financial Crime Compliance & Global Head FCC Change Management at ING was talking to Kate Pohl, Head of Banking & Partner Strategy and Execution at Traxpay GmbH and Steven Batiste, CTO of TIS, from the „Digital Dump“ Podcast series.
Every Friday, Steven Batiste’s and Kate Pohl’s “Digital Dump” podcast is all about the world of technology. Their goal is to demystify the magic word “TECH” and make the complex transparent and easy to understand – not only for experts, but for everyone.
Markus E. Schulz highlighted that whenever the good guys plug a hole, another is explored/created, making it even harder to slow the pace of #financialcrime. He emphasized that since we don’t have unlimited budgets, it is important to start with the “simple things”! “Adding 3 more locks to the door doesn’t work if the gatekeeper hands over the keys!”. He commented that massive investments are being made in #regtech and that the number of providers has grown exponentially. Markus emphasized the need for “explainability” especially to the #regulators. #technology as a tool remains important, but you need clean, plentiful and available #data to make it useful. Technology alone is not the answer (especially when the question is not clearly defined)! He sees #banks becoming “financial institutions i.e. data companies with a balance sheet” and he advocates for the same rules for the same risks.
What do belly dancers and #compliance have in common? Do we continue to underestimate the cultural environment? If we fail to plan… must we plan to fail? Tune in and find out!
or on Apple Podcasts, Google Podcasts, Amazon Music, Pocket Casts, Overcast, Breaker, Radio Public, Anchor FM and Reason FM.
- Kate Pohl, Digital Dump presenter, Head of Banking & Partner Strategy and Execution, Traxpay
- Steven Batiste, Digital Dump presenter, CTO, TIS
- Markus E. Schulz, Deputy Global Head Financial Crime Compliance & Global Head FCC Change Management at ING