Wealth briefing: Developments in private bank RegTech
Tom Pfister, Confluence’s Managing Director of Compliance, Regulatory and Reporting, speaks with Chris Hamblin, WealthBriefing, about how quickly regulatory technology is evolving and what the effects will be on private banks
Regulatory technology – software that a private bank has to use in order to produce information and analyse it at the behest of regulators – is evolving by leaps and bounds.
It not only results in disclosures to wealthy customers on which the regulators insist – especially when they are enforcing such legislation as the European Union’s second Markets in Financial Instruments Directive or MiFID II – but it is also a valuable generator of other information that those customers would like to use when deciding how to manage their investments. In this article we speak to Tom Pfister, the managing director of compliance, ‘regulatory’ and reporting at Confluence, the compliance software vendor which gives advice regularly at meetings with the US Securities and Exchange Commission, about the interplay between those two use cases, among other things.
About Confluence® Technologies
Confluence is a leading provider of specialist regulatory, analytics, and investor communication solutions for asset managers, asset servicers, investment consultants, and asset owners. Across performance, risk and peer analytics, regulatory filings and compliance monitoring, and shareholder reporting and document production, firms depend on Confluence for output they trust. We deliver this through deep domain expertise and purpose-built products developed over decades of research and engineering.
Confluence solutions are powered by Confluence POINT, AI-enabled automation that runs within and alongside Confluence’s trusted solutions. POINT optimizes inefficient workflows, delivering a meaningful impact on outcomes without requiring significant operational change.
Headquartered in Pittsburgh, PA, with 750+ employees in 15 offices across the United Kingdom, Europe, North America, South Africa, and Australia, Confluence services over 1,000 clients in more than 40 countries. For more information, visit www.confluence.com.
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