Innovation Hub events

ASIC presents at fintech meetups and events to discuss the Innovation Hub and our approach to new business models, and to answer questions on regulation and compliance.

We host collaborative regtech events and problem-solving trials on financial advice and promotions, and communications. These events bring together industry and government to promote innovative development of Australia’s financial systems.

The quarterly ASIC Regtech Liaison Forum is an opportunity to network and hear about ASIC’s initiatives and progress.

Monitoring Financial Promotions Symposium

Register your interest to join ASIC for the Monitoring Financial Promotions demo and symposium on Friday 2 August 2019 in Sydney.

This event will demonstrate how regtech can help improve compliance and quality of financial promotions and advertising, both printed and online.

Prior to the symposium, ASIC will provide trial demonstrators with a curated advertising dataset containing material relating to banking, credit and insurance. Using this and other publicly available advertising data, stakeholders are invited to publicly submit examples of regtech proposals and solutions that can monitor, identify and analyse quality.

At the symposium, demonstrators will preview their methodologies for analysing the promotional material, extracting key features and identifying potential risk characteristics. The demonstrations will be followed by panel sessions about the opportunities and challenges in applying these technologies.

Demonstrators and symposium observers are welcome to apply.

Read the Monitoring Financial Promotions problem statement

Register Interest Here

We are using a third party service to process and manage event registration. Before you express your interest and/or register for the event, please read ASIC's Privacy Notice for the use of Eventbrite.

Financial Advice Files Symposium

Register your interest to join ASIC for the Financial Advice Files demo and symposium on Thursday 22 August 2019 in Sydney.

This event will demonstrate how regtech can be used to improve compliance in Australia’s financial industry and advice outcomes for consumers.

Prior to the symposium, ASIC will provide trial demonstrators with a synthetic financial advice-file dataset. Participants will have time to develop methodologies to determine the quality of the advice in the dataset. ‘Quality’ will be defined broadly to go beyond regulatory compliance and risk metrics.

At the symposium, demonstrators will preview how their solutions can improve the detection of problematic financial advice. The demonstrations will be followed by panel sessions about the opportunities and challenges in applying these technologies.

Demonstrators and symposium observers are welcome to register.

Read the Financial Advice Files problem statement

Register Interest Here

We are using a third party service to process and manage event registration. Before you express your interest and/or register for the event, please read ASIC's Privacy Notice for the use of Eventbrite.

Voice Analytics & Voice-to-Text Trial and Symposium

Join ASIC in September 2019 to learn the results of its Voice Analytics & Voice-to-Text (VA&VT) trial.

ASIC’s VA&VT trial is examining issues identified in ASIC’s Report 587 The sale of direct life insurance. The report found the behaviour of salespeople selling life insurance fell short of community expectations.

Trial demonstrators were chosen by a tender process. Demonstrators have been asked to apply their regtech solutions to analyse, flag and report phone calls that:

• contain inappropriate sales tactics such as pressure selling, inappropriate objection handling and sales to vulnerable consumers
• contain indicators that the consumer may not be comfortable committing to a purchase by identifying behaviours on the part of both the sales agent and consumer (including but not limited to: hesitation, confusion, aggression and gratuitous concurrence)
• contain inaccurate, insufficient, omitted or inappropriate information about products being provided
• do not properly identify a product has been sold that differs to what was originally requested.

Symposium and registration details will be available in the new financial year, so watch this space.

Licensing Technology-Assisted Guidance Tool trial and symposium

Join ASIC in September 2019 to hear about the outcomes of development of a regtech proof-of-concept.

The Licensing Technology-Assisted Guidance Tool (TAG Tool) is designed to provide guidance to ASIC’s regulated (or potentially regulated) population on their financial services and credit licensing obligations.

An approach to market is currently being reviewed where trial demonstrators (consisting of legal and technology providers) will be chosen by a tender process. ASIC intends to share its experience and learnings from the trial with the public and key stakeholders through a Symposium and/or a final report and registration details will be available in the new financial year, so watch this space.

Future regtech trials: 2019–20 and beyond

ASIC may undertake other regtech trials in the future, focusing on:

• Machine learning monitoring of lending (problem-solving event).
• Technology-based tools to support non-financial risk management (a symposium).
• Digital record keeping of financial advice (landscape report).
• Behavioural insight (technology-based tools stocktake).
• Structured financial information of public companies (case study).

For more information on future regtech trials, contact regtech.initiatives@asic.gov.au.