Good morning, Joseph, distinguished guests, ladies and gentlemen. A warm welcome to the SFC Anti-Money Laundering and Counter-Financing of Terrorism Regtech Forum 2024. Let’s call it “SFC Regtech Forum” in short.
Last week, I had the opportunity to visit Saudi Arabia for a second time this year to foster capital market connectivity. It was inspiring to engage in dialogues with our Middle East and global counterparts on the future of finance encompassing fintech, digitalisation and artificial intelligence (AI), which will be pivotal to future-proof our financial markets. I’m sure many of you also had a chance to attend the Hong Kong FinTech Week last week, where much excitement was generated over innovation, fintech, AI, tokenisation and even more.
In fact, our theme today, Regtech or regulatory technology, is also about innovation. Regtech is a major type of fintech and also accounts for the most use cases of AI-powered solutions in the financial sector so far. I believe it has a major role to play in the future of finance as an enabler of regulatory compliance, effectively helping to prevent financial crimes and safeguard investors’ interests.
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