The aim of the Call is to scout innovative startups that use A.I. in the RegTech environment. The best ones will join a project with some client companies of Deloitte Risk Advisory in the EMEA territory (Europe, Middle East and Africa).
Startups will need to show that they have real technological business solutions which solve regulatory requirements in the following applications of the Conduct Risk:
The challenge is divided into two phases: in phase 1 (July – November) is the application phase. In phase 2, applications will be evaluated and finalists will be selected asked to pitch in front of a panel (Evaluation Board) who will vote for the winner.
The competition is addressed to startups registered in Europe, the Middle East and African countries (EMEA), incorporated within four years from the beginning of Phase 1. These startups must be mature enough to offer a solution ready to enter the market. The startup can be registered by: Founders, Cofounders, legal representatives, shareholders, C-levels
The first evaluation after phase 1 will be conducted by EMEA Risk Advisory Managers’ experts in Conduct Risk. The final evaluation during the Pitch Day will be led by the Evaluation Board, formed by the EMEA Risk Advisory Innovation Leaders, Deloitte Regulatory and Artificial Intelligence experts
Each evaluation phase will be based on the following parameters: innovation quotient, attractiveness, feasibility, economic sustainability and scalability of the solution
RegTech represents the use of technology to help businesses comply with regulations efficiently and inexpensively. RegTech applies to various topics of the financial and regulatory field, but in this competition, we are focused on Conduct Risk
Conduct Risk describes the risks associated with how organizations and their staff relate to customers and the wider financial markets. It covers any action of an individual bank that leads to customer detriment or negatively impacts market stability (e.g. fraudulent behaviour towards customers, misconduct in the creation and distribution of financial products, conflict of interest, incentives to sell products against customer’s best interest)
When applying, you will be asked to submit the following:
The winning start-ups will be asked to collaborate on innovative projects with customers of some of the participating Deloitte member firm.
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