Given adviser compliance was put under the spotlight in 2018, it’s no surprise fintechs are joining the RegTech space, with AdviserLogic launching its Dashboards tool to allow Australian Financial Services licensees (AFSLs) to monitor the compliance of their advisers in real time.
AFSLs would be able to gain insights from automatically-updated and configurable dashboards, highlighting areas of concern and opportunities in compliance, revenue, investment and insurance.
AdviserLogic group chief executive officer, Daniel Gara, said the fintech would bring dealer compliance management to a whole new level.
“Technology is finally empowering AFSLs to approach compliance proactively, rather than reactively, and given the year advice had in 2018, it has never been more important to be on the front foot in this area.”
The fintech expected dashboards to be further enhanced in the coming quarter to make the most of the digital statement of advice product that it would bring to market.
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If AFSL's need "RegTech Dashboards" to monitor and supervise their advisers then the AFSL is too big and its management too far removed from the coalface.
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