Professor Philip Treleaven and his financial computer science team at University College London have impressive form when it comes to executing grandiose projects. About 25 years ago, UCL successfully built the first insider dealing detection system for the London Stock Exchange.
About 10 years later, Treleaven’s team collaborated with Deutsche Bank on the first automated fixed income trading system.
The time has come for another big ticket UCL-led innovation: the automation of financial regulation. The shift into what could be called core “regtech” (a term coined by Treleaven) is conceived as an assemblage of technology-enabled components.
There are five distinct parts: an intelligent regulatory adviser; automated monitoring of online and social media; automated reporting using online compliance communication and big data; regulatory policy modelling; and automated regulation.