Open source in RegTech, solving a billion dollar problem
0RegTech has become a mature part of Fintech, and is growing fast.
As hundreds of banks use hundreds of different software implementations and data models to implement the same mandatory regulatory calculations, banks and regulators are starting to catch on to the power of open source to reduce the billion dollars spent collectively on this tasks by banks.
In this talk we discuss the European Central Bank’s collaborative BIRD project for open standards in regulation, The Eclipse Free BIRD tools project providing open source tools built on top of BIRD, and the open source Fire regulatory data model used by banks looking to gain the benefits of open source collaboration.
No prior knowledge is required.
Attendees wil learn about collaboration in one one the most expensive non competitive fields in industry, as a showcase of the power of open source