Amy Ciolek is a Senior Associate in Financial Services Regulation and Compliance law, with clients ranging from major banks, foreign financial service businesses, and fintechs. Amy assists financial services clients with the regulatory aspects of digital transformation, mergers or acquisitions, product design and structuring, and traditional legal compliance, AFSL and ACL licensing, ADI licensing and compliance, AML, privacy, regulatory investigations and remediation. Prior to joining private practise, Amy had extensive experience in tech innovation across large organisations.
Ciolek said regulators have been concerned about automation and digitising. 42 days is the average application process and its getting longer.
Baum noted that his company uses 22 different technologies and put them together to achieve our end to end process.
Hatherley noted how new technology in homechain and regchain was helping redesign end to end home loans using blockchain. “Its for organisations trying to future proof. No-one wanted to do it first so we did it.”
Turner said consumers will act in their own self-interest if you give them the information. We’re trying to get rid of the information advantages that banks and brokers have had.