Relying on relatively old asset allocation methodologies and a limited type of products, there are clear benefits by having extended the range of clients.

Such controls include the requirement that banks should be able to identify all the spreadsheets used in critical processes and ensure that all data and calculations used in such processes are adequately policed by internal compliance departments.

Home insurance hasn’t adapted to the era of Airbnb and car insurance is even more hopeless when it comes to Uber and the sharing economy.

Innovation is rather developed outside of established players in the financial markets, by startups for which the regulators seem rather indecisive on how to approach them.

Perhaps what is needed is not more regulation, but a standardised and simplified application across the sector, supported by automation through software.

Change is hard. As human beings, we get comfortable and feel secure, so when things change, it can be unsettling to say the least. Specifically, the asset management industry is going through a period of rapid digital transformation and change.

“RegTech” is a massive opportunity to create a vibrant surrounding ecosystem at scale while increasing productivity, lowering transaction cost and improving operational resilience.

Digitalization and fiduciary movements are both trending at the exact same time within the wealth advice space, creating new technology requirements and opportunities.

Being smart is getting tougher with time. Data is becoming increasingly cheap, open and accessible. Making the data work not only for its narrow purpose, but for the purpose of understanding the business.

A smarter approach to inherently build trust framework in every element of finance could make regulation invisible but omnipresent.