Financial Crime World

RegTech Convention Shines Light on Cape Verde’s Fight Against Financial Crime

Cape Verde, West Africa - The 2023 RegTech Convention, themed “The Balancing Act of Reg and Tech”, brought together thought leaders to discuss the intersection of regulation and technology in preventing financial crimes.

Challenging Economic Environment

Amidst a challenging economic environment, experts questioned whether complex regulations have become too costly to be effective. How can fintech innovation improve responsiveness to evolving requirements? This was a key topic of discussion at the convention.

Keynote Speakers

The convention featured keynote speakers from around the world, including:

  • Anders Borg, former Swedish Minister of Finance (2006-2014), who shared his insights on navigating economic crises.
  • Brandon Milhorn, Deputy to Vice Chairman Travis Hill at FDIC, who discussed the importance of regulatory technology in preventing financial crimes.

Collaboration is Key

The convention highlighted the need for collaboration between regulators, financial institutions, and fintech companies to stay ahead of evolving threats. “RegTech has become a crucial tool in our fight against financial crime,” said [Name], CEO of [Company]. “We must continue to innovate and adapt to new technologies and trends to stay one step ahead.”

Panel Discussions

The event featured expert panel discussions on topics such as:

  • Digital Transformation: How fintech innovation is changing the face of financial services.
  • Impact of Fintech Innovation on Financial Institutions: The effects of fintech on traditional banking and financial institutions.
  • Role of RegTech in Preventing Money Laundering and Terrorist Financing: How regulatory technology can help prevent financial crimes.

Timely and Relevant

As Cape Verde continues to develop its financial sector, the convention’s focus on RegTech is timely and relevant. The country has been working to improve its regulatory framework and strengthen its fight against financial crime, including implementing new regulations and guidelines for fintech companies operating in the country.

Conclusion

The 2023 RegTech Convention was a significant event for Cape Verde, bringing together experts from around the world to share knowledge and best practices on preventing financial crimes. As the country continues to grow and develop its financial sector, the importance of RegTech will only continue to increase.