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12/07/2018by Matt Elton

“RegTech is trust, as a service”: the outcome of this week’s RegTech for London event in Canary Wharf

As everyone in the industry will tell you, RegTech is styled to be ‘the next big thing’, ‘bigger than FinTech’, ‘more profitable than bitcoin’. Numerous events take place week on week, repeating the same story. At the same time, the financial industry has suffered serious reputational damage through the 2008 crisis and other scandals, including mis-selling and misconduct, facilitating money laundering and terrorist financing.

This week was the first in a series of events being held in London – The RegTech For London series. The event was attended by leaders from the financial services industry, consultants, as well as by a number of RegTech firms and the wider technology sector.

The title of this first session was “Do you really know and understand your customer?” taking the subject of AML and KYC, increasingly seen as a compliance burdens, and exploring how to regain the confidence of the market and to ultimately profit from KYC.

It has been made evident that RegTech will play a hugely important role in the defining of the future of the Financial Services Industry, in London, throughout Europe, and globally. For those who are not aware, RegTech is the application of technology to solve challenges relating to regulation, compliance and supervision. Regulatory Technology is the application of technology to facilitate regulation compliancy. It has become evident that the future of the industry depends upon the industry’s ability to redefine themselves by reapplying RegTech to the ever-fluctuating market. As regulation becomes more complex, it becomes harder to manage costs. RegTech allows the companies to shift their focus to true products and services instead of spending millions on compliance alone.

Advertised as “a completely different kind of RegTech event”, the event did not disappoint; “the program was outstanding!” said Digital Trust’s Bharat Pathiavadi.  The series of events is the brainchild of RegTech visionary, Matt Elton who added “we have brought speakers from around the world, to London, the home of RegTech, bringing speakers London hasn’t seen before, with a message the industry hasn’t heard before. We brought a line-up of speakers from around the world who came from as far away as Silicon Valley, Toronto, and Singapore as well as throughout Europe”.

One of the speakers, Laurent Marochini, Head of Innovation & Quality at Société Générale described the session as a “great discussion around a challenging topic, that need to be transformed into an opportunity”, he concluded that “RegTech is trust, as a service”.

The series is organised by FinnoLux; an international firm focussed on enabling organisations to thrive in a digital world through delivering Expertise, Technology Solutions and Projects. A key part of the firm’s activities is in working with firms to develop and deliver holistic RegTech strategies.  FinnoLux CEO, Matt Elton believes that “the future of the industry depends on us looking at regulatory compliance through another lens – it is not just about cost and burden, regulation provides opportunities for business growth, technology is the key to unlocking these opportunities.

The next session in the series will tackle another complex and controversial topic – “Brexit and regulatory divergence” and will be held in September.  For more information please see https://regtech.events/london.

The event featured a number of influential RegTech leaders:

Matt Elton, CEO at FinnoLux
Donna Bales, Co-Chair of RegTech RoundTable Foundation from Toronto, Canada
Rosalie Koerts, Senior Sales Manager at Keesing Technologies from Netherlands
Sam Gibbins, MD/Lead Facilitator at Complilearn Pte Ltd from Singapore
Kunal Patel, Senior Business Leader, Product/Strategy from UK (previously in India and Singapore)
Laxmi Ramanath, CEO at La Meer Inc from Silicon Valley, California
Sian Lewin, Client Delivery Director at RegTech Associates from London
Laurent Marochini, Head of Innovation and Quality at Société Générale from Luxembourg
Rhys Collins, Director of Business Development at Total Systems plc from London
Adam Richards, Operations Director at Albany Group from London



09/03/2018by Leen Cuypers

Author: Leen Cuypers

On a day like today, you can’t miss the original quotes and pictures on social media, complimenting and encouraging daughters, mothers and wives.

This somehow triggered me to reflect on women’s role in society and on my own life as a woman, mother of 2 wonderful little girls, wife and entrepreneur.
My thoughts brought memories to the women I worked with in Colombia as a 22-years old. As war victims, they had lived through the worst of times and had lost many of their beloved ones, still, they were able to look forward and play an active role in the peace process. I will never forget their resilience, persistence and strength.

The past, today & the future

More than a century ago, the foundations of the current women’s day, were laid, when women started a strike to petition safer work and better salary conditions as well as to fight against sexual intimidation. We have undoubtedly come a long way since then, and I can’t show enough gratitude to all women who acted and brought us where we are now. From explicitly standing on the barricades to more implicitly teaching their sons to treat women equally and respectful, all of these women shaped the reality in which I got the chance to study and do what I like in life. This being said, a bumpy road full of challenges remains ahead of us. When looking further in the future, I can’t help but wondering what ‘gender equality’ will mean when my little ones are grown-ups and how the #metoo era will be perceived by then.


As an entrepreneur in a male-dominated tech industry, I can see many benefits of having a more balanced gender representation. The European Union as well as governments have launched campaigns to attract women into tech jobs and many groups exist on a global scale to support women in tech. I am a strong supporter to the efforts taken to break stereotypes and to stimulate people to find out what really interests them. I strongly believe that is the foundation for a healthy and long-lasting career. A great example in this sense, focused on the STEM professions, is the LuxKids Lab, with the aim to cultivate children’s passion for science and action. Such an initiative is in my opinion a great way to break the stereotypical gender roles and to show girls there are no limits when they want to follow their passion.

The bigger picture in tech

With technology taking an ever more important role in our lives and in society in general and with the technology industry growing increasingly, I think it is however important to look in another way at the career possibilities in it. Are engineers and IT specialists the only profiles the technology industry needs? Do we need to enrol our girls in coding courses? The answer is in both cases no, unless of course your little one shows a genuine interest in coding! In our company, we are very proud not to all have a tech background. We are proud to have a team of people with many different back grounds, all bringing a very distinct approach and view. It takes more than technology to create a digital success story, as technology is but a solution to a problem. In order to create a successful solution to that specific problem, valuable skills are irrefutable the comprehension of the wider problem context, the ability to extract and define the root cause and understanding the impact of the implementation.

To all the girls out there, and especially to my two favourite ones, my deepest wish for you is to be able to create a life path that is in sync with who you are. Whether you want to be a scientist, an entrepreneur, a nurse or a housewife… do what YOU feel like doing, don’t let anyone turn you down, look through the stereotypes and break them when needed.


08/05/2017by Matt Elton0

Author: Anna Velvet

We have always been told that “customer is king” and it is a reasonable argument not only used in the past but certainly today in our digital world. The opportunity to innovate is becoming vital and companies are understanding that there is a need to be engaged and innovative to be successful with their digital customers. Customer centricity is key – today’s digital consumer wants products and services on their own terms, not those of the supplier. The main ingredients for success is the engagement that you have with your customers and how emerging technology can facilitate their needs as a digital customer.

For most companies, innovation is interpreted by transforming the whole organization which is not necessarily the case. Innovation can exist in small groups or centrally – but in all cases, it must not be isolated from the business.

Changing Business Culture

Another focus companies shouldn’t become too obsessed with is changing the whole culture of the business. Business culture that is forced to change at present is really adapting to how technology will be used to add value to customers needs.

The only way to engage your customers is by creating the right team that are not only close to the customer, but can add input in order to drive innovation. It is important to use the brightest and most talented, in a cross sectional team composed of people who you might not first think to include. People in sales, customer services, marketing are the vital component to help drive motivation.  It is important to involve those in the organisation who are closest to the customer, as well, partners and customers themselves. All theses front office key players along with emerging technology are “key” on capturing your customers needs.

Aligning Innovation with business strategy

Having an alignment between your innovation and business strategy is also another important factor in order to be successful.  It is important to know that Real Innovation is not easy and understanding that point helps you to be prepared for challenges that come along the way. Some companies place a lot of importance in technology but the coolest technology may not necessarily appeal to your customer base.

Therefore, creating game-changing innovation takes hard work, and is not about having short term solutions that satisfy the customer or cool offices with table-tennis tables and beanbags. It is about embracing the needs of your digital customers in the services and products that are important to them.

The Real Definition of Innovation

Innovation does not mean buying someone else’s company who has already innovated.

Companies should try to avoid “easy going”, “copycat” innovation, which isn’t really innovative at all.  Whilst having an app or utilising social media are probably important needs, they are not actually very innovative.

Companies need to be aware that some initiatives will fail or take lengthy time to be executed. The Simon smartphone took 10 years to actually become the Apple iPhone of today. The difference is that Apple captivated the key .. the customers. Their approach added value they understood from their customers that people wanted phones that were compact and easy to use/navigate for their daily use. Apple didn’t change the business culture, they adapted the technology and customer needs to add value for them.

External collaboration can be a huge bonus

Collaboration with external parties such as universities can provide access to cutting edge technologies which are not known within the industry.  Being able to articulate problem statements in a way that researchers can envision solutions is important


FinnoLux deals with real experience that produces real results, we have actually executed these strategies within the financial services industry. We have been the bridge between academia and business to create cutting edge solutions. Our team have complimentary, yet very diverse backgrounds, enabling us to “see beyond the obvious”. Our vast experience working within varied business sectors has allowed our strategy to help develop innovation process for any domain or space.

What we do?

Our main purpose is to help you develop your innovation strategy in line with your business strategy.

As well, we help you to define your end goals and the roadmap to achieving the final (holistic) goal. Our strategy is to provide a series of workshops in order for you to take the developed and fragments of your ideas and turn them into real business opportunities and prototypes.

We are the intermediary that acts as the bridge between university/research organisations and the business. Therefore, we will manage collaborations with the academia on your behalf.

Our department will also perform market studies, interview prospective customers, qualify opportunities.

This methodological strategy will create business plans and go to market strategies that will in the end bring a prototype that has your innovative signature stamp.

Executing and Delivering Digital Success

As a partner, we will work with the business to define and execute the innovation strategy, enabling the company to deliver real results, real solutions that customers want to use.  These are not point solutions, defined by a one-time “headline” but part of a holistic strategy to take the business forward in a rapidly changing world.

How do I find out more?

Please contact FinnoLux sales via the contact form on our website, where we will be delighted to discuss how our Innovation Management services could benefit your business.


09/03/2017by Matt Elton0

Authors: Anna Velvet & Endri Bahja

What is the Global Scan?

Global Scan is a service evaluation tool that measures how ready your business is in order to enter into the global market with success. Our company FinnoLux provides this assessment which looks at several factors from a series of questions.  Depending on what you are looking for and with the advice of the global assessor  you may choose to have a question period of a 1 hour call with the CEO, a detailed interview session(s) with the top management team, or/and an onsite evaluation and interview of the functional staff from different departments of the company. These questions focus first on the company’s business in financial, legal, social, and political factors which normally bring challenges for a startup to enter or even grow in the market internationally.

Other set of questions focus strongly on company’s innovation dimensions in order to find, assess and improve their gaps and better evaluate their opportunities. The last section of questions are the famous Thiel’s 7 Questions that in our view every company (no matter what size) should try to answer, before they plan to improve or create a product or service in their enterprise. Below is a quick snapshot of some of the sections of the assessment.

Why is a Global Scan necessary? 

Most startups and/or established firms who are successful in their local economy tend to interpret what works for them locally and assume it can be adapted to global markets. The assumption that all business cultures work the same has caused some companies’ failures and has caused others to struggle to meet targeted profits due to lack of understanding their market.

If the targeted market is not necessarily ready for your service, other factors such as culture, politics and technology could be further difficulties companies could face. This report looks into these scenarios. A common situation that could happen is that companies that are very successful in their local regions tend to operate in ways that are familiar to them and therefore may overlook some business tactics used in another country. Hence a having this global assessment would be the ideal approach in tackling these issues.

The Entrepreneur.com website also points out some elements that explain why startups fail which include the following; the actual idea is not productive, ineffective planning and leadership, lack of or insufficient finance, issues with product launch, marketing, and sales. All these elements may contribute to the complexity of growing your business, especially when entering unknown territories globally.

Fintech companies are no exception, despite the boom in the services and some of the success stories that derived from this new ecosystem. Some unknown territories can experience these similar issues due to cultural and legal requirements of other EU member states.

The assessment highlights several observations that are put into a report to understand what is necessary to go forward in your business globally.

Global Scan Assessor Endri Bahja, who has been conducting these assessments, has given several examples of what types of challenges have affected the companies that tried to internationalized in the EU.

An  example he gave was about a financial service company from Eastern Europe that  wanted to expand their financial business into Italy to provide their services to a growing number fellow residents who emigrated there. They struggled to reach the clients as the obstacles of entering the market on their own was not gaining traction and the only way to penetrate this market was through forming partnerships with financial institutions. The assessment was able to pinpoint what they were lacking and this in term helped them develop better strategies with the local financial institutions. Through post assessment results, they understood that these suggestions would have helped cut the expense cost and the process of entering the market quickly.

Once the essential issues are identified, these firms can find out what key strategic formula they lack in order to prepare for entry into a new country market. Those who want to grow and succeed globally can benefit from this kind of assessment.

As a cultural language coach, I have personally seen departments in multi-international companies fail to increase their productivity due to low-level language skills in English and a lack of understanding how to do business in a culture that may do things differently. For example, having lots of meetings is one way of being productive in one country while another country might feel that it’s unproductive. Understanding your market and business culture is one of the leading factors of being successful internationally.

Global Scan Assessment- The Tool that Benefits Investors and VCs

Time is money; especially for startups and established companies. Are your investments competitive on a global level?

To the VCs and investors, this tool can assess the future growth of your investments and monitor your business’ strategies in the financial eco space. As you don’t have time to monitor and forecast your investments in these startups, a report can definitely help you diagnose the growth and/or establish potential for future expansion.

FinnoLux is an enabler that assists companies in transforming their own ideas in order to help them fulfill their objectives. At the same time, we aid companies in creating real-life industry solutions. The assessment is conducted by an innovation and export management  expert (of 10 years) who currently works in collaboration with the EU’s innovation and evaluation of SME and MSMEs. From a series of questions and responses given in a digital report, we will be able to analyze what the company strengths and weaknesses are to becoming successful globally.

Several questions that you should ask yourself when expanding and entering a new market are: Am I ready and do I understand the market? Are my finances in order? What is the political/social implications of my product/services? If you are asking these questions or considering some of these questions, then a Global Scan is the tool to determine your strategy and success.

How do I find out more?

Please contact FinnoLux sales via the contact form on our website, where we will be delighted to discuss how the Global Scan could benefit your business.