Leading RegTech Company Starling Releases 2021 Compendium

Leading RegTech Company Starling Releases 2021 Compendium

Press Release (ePRNews.com) - May 18, 2021 - Starling, a globally recognized RegTech pioneer, launches today the fourth in its annual Compendium series: a comprehensive report detailing the priorities and activities of bank regulators regarding firm culture and conduct risk management. Starling’s 2021 report features contributions from more than 30 senior banking industry executives, regulators and central bankers, international standard-setters, and academics.

“In today’s changed circumstances we need to rethink organizational learning,” writes Gary Cohn, former¬†director of the U.S. National Economic Council. “And we’ll need to develop new management methods that will likely demand new management training methods and new tools by which to chart the course forward successfully.”

Starling’s report covers topics such as the increased importance of environmental, social and governance (ESG) considerations among global investors; increased attention to matters of diversity, inclusion and equity (DE&I) among regulators; the need for ‘psychological safety’ to encourage a ‘speak up’ culture; and a growing readiness, among regulators and firms, to turn to behavioral and data science for new means of supervising and governing conduct risk.

“We are at an interesting juncture – perhaps an inflection point – for how we approach international coordination and cooperation in regulation of financial services and beyond,” Institute of International Finance President and CEO Tim Adams said.

“Artificial intelligence and machine learning tools adopted by financial institutions and regulators could radically change, and hopefully improve, financial regulation,” observes former U.S. Comptroller of the Currency, Tom Curry.

And Carolyn Rogers, Secretary General of the Basel Committee on Banking Supervision, concludes, “If the last decade of bank supervision was about designing rules that lead to more resilient bank balance sheets, the next will be about designing supervisory tools and strategies that lead to more resilient bank cultures.”

“Above all else, it has been our hope that this series of reports might serve as a platform across which leading industry participants may address one another usefully,” Starling CEO and founderStephen Scott opens in the report’s introductory comments. “With nearly three dozen contributed items from leading global figures featured in this year’s report, we hope that readers will find it to be our most valuable to date.”

“The horizons of culture research have expanded, with the digital revolution leading to vast collections of unobtrusive data on organizations,” writes Tom Reader of the London School of Economics. “These data have potential to provide insight on an organization’s culture.”

The report anticipates that, by permitting for a proactive ‘predict and prevent’ approach, in place of the traditional ‘detect and correct’ risk management mindset, new regulatory technologies (‘regtech’) will help to usher in an era of regulatory reform around nonfinancial risk management.

To view the full 2021 Compendium, please visit: starlingtrust.com/the-starling-compendium.

About Starling

A globally recognized RegTech pioneer, Starling is an applied behavioral sciences company that helps customers to create, preserve, and restore value. Combining machine learning and network science, Starling’s Predictive Behavioral Analytics platform allows managers to anticipate, and to shape, the behavior of employees and teams so as to boost performance and reduce risk.

Starling’s Industry Advisory Board is led by Gary Cohn, former Director of the U.S. National Economic Council in the White House; who is joined by Tom Curry, former US Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) board member; Rick Ketchum, former CEO of the Financial Industry Regulatory Authority (FINRA), past head of regulation for the NYSE, and former President of the NASD and NASDAQ, Siew Kai Choy, former Managing Director and head of Enterprise Data Analytics at Singapore sovereign fund GIC; Mark Cooke, former Group Head of Operational Risk with HSBC; and Jim Freis, longest serving Director of FinCEN, the US Treasury’s Financial Crime Enforcement Network.

Press Contact:
Ashley Marquis: ashley@jeffersonstrategies.com

Source : Starling
SHARE :  

You may also like this  

Login

Or using ePRNews Account

Don't have an account ? Sign Up

Register New Account

Already have an account ? Login

Reset Password

Already have an account ? Login

DISCLAIMER

If you have any concerns regarding this press release, please contact the Author / Media Contact / Business of this press release. ePRNews is not resposible for the accuracy of the news posted and do not endorse, support any product/ services/ business mentioned and hereby disclaims any content contained in this press release.