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Tech to bring huge change to bank/regulator relationship, says Westpac compliance chief

George Nott | June 12, 2017
Rebecca Lim calls on regulators and regtechs to think big

The bank's 300-strong compliance team was also improving its technology capabilities, Lim said.

The function had recently hired an individual with a joint MBA and technology degree, and its lawyers and compliance officers were being taught how to code and run large scale agile projects.

"Because those are the capabilities we need to really embrace this opportunity," Lim said. As part of that we really need to change our culture and that is to move to a culture of experimentation. It cannot be to wait until you've got every I dotted and T crossed before you experiment in this space."

 

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