Regulation today is analog and compliance is bespoke, putting operating models under strain and creating a "hidden tax of duplication". When a regulator publishes a PDF, every firm guesses the interpretation, leading to data you can't compare and costly supervision.
The Open RegTech initiative offers a neutral, low-risk path to issue regulation as code - alongside the prose - so supervision is cheaper, data is comparable by design, and rules harmonize across borders.
We believe that Open Source Software, Standards and Best Practices can unlock significant value for financial regulators and the entire financial ecosystem. This lays the foundations for a robust market infrastructure and ultimately boosts innovation and welfare by freeing up resources.
The FINOS Regulation Innovation Special Interest Group (SIG) is a community of people interested in creating open-source solutions for regulatory and compliance issues in financial services.
Rather than just discussing standards, we are building them. We invite regulators, banks, and builders to participate in our three active pilots:Participants of the Regulation Innovation SIG meet monthly. Learn more at github.com/finos/open-regtech and subscribe to the SIG mailing list to get involved.
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Become an Associate Member if your are a non-profit, government agency, association, or academic institution involved in regulatory activities
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