Have you ever wondered why some regulators embrace technology while others struggle to overcome adoption barriers?
Regulators are well aware of the benefits that technology brings. Australia and New Zealand also have some great examples of how innovative regulators are using technology to achieve better regulatory outcomes, making it easier and cheaper for people and businesses to comply. But barriers to adoption are slowing progress for many.
A recent study conducted by Objective Corporation found that the use of technology by Australian and New Zealand regulators is only superficial. The industry’s first Government Regulatory Technology Survey was launched in response to the lack of an industry-wide view of technology adoption within government regulators. until now.
Most regulators are keen to make greater use of digital technology and recognize its benefits. They are adopting a more sophisticated, risk-based, intelligence-driven approach that relies on effective IT systems to collect, collate, and analyze information. Other regulators face technical IT capacity and funding barriers and are hesitant to adopt readily available regulatory technologies in the market.
“Many regulators have adopted these technologies, but most are immature, even when it comes to the core underlying systems. We find that fears of securing capacity, securing funding, and risk of IT projects are most often cited.” Simon Corden, Public Policy Consultant.
Objective Corporation will host a free online forum with the participation of leading regulators and industry experts to explore our findings in more detail.
Examine key trends that shape the benefits and barriers to adoption of regulated technology
Hear stories from institutions that have successfully implemented regulatory technology
• Gain the latest insights into the maturity of regulatory technology adoption in Australia and New Zealand
• Join a panel of regulatory experts to explore the latest insights on regulatory technology
Ben Hobby, Objective Global VP of RegTech, encourages all government regulators to get involved.
“This forum provides a uniquely rich depiction of the changing regulatory landscape for government technology adoption and provides a benchmark of how this is progressing. This insight has been very well received among members of the regulatory community.” and are excited to gain insight into how RegTech is evolving for government.”
Register now – https://www.objective.com.au/resources/webinar-insights-from-the-government-regulatory-technology-survey-2022
Government Regulatory Technical Forum: Scraping the Surface
Tuesday, September 6th
12:00 pm (2:00 pm Australian Eastern Standard Time)