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 global leader in enterprise data and software solutions for regulatory, analytics, and investor communications. Our best-of-breed solutions make it easy and fast to create, share, and operationalize mission-critical reporting and actionable insights essential to the investment management industry. Trusted for over 30 years by the largest asset service providers, asset managers, asset owners, and investment consultants worldwide, our global team of regulatory and analytics experts delivers forward-looking innovations and market-leading solutions, adding efficiency, speed, and accuracy to everything we do. Headquartered in Pittsburgh, PA, with 700+ employees across North America, the United Kingdom, Europe, South Africa, and Australia, Confluence services over 1,000 clients in more than 40 countries. For more information, visit www.confluence.com.