OCTASolution RegTech Driving Strategy
OCTASolution RegTech Driving Strategy
Through cooperation between supervisory authorities, industry associations, and related companies, we will create a RegTech-based compliance regime to establish and promote a system that enables industry specific and cost-effective compliance regime.
FSS
FSEC
KoFIU
FSC
NTS
MOEF
KFB
CREFIA
KLIA
KOFIA
KORFIN
Detailed Strategy of OCTASolution RegTech
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Change in perspective
Management training for the change of perception from the minimal effort in compliance to the utmost importance
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Shared Structure
Compliance related to information, experience, knowledge, solutions, etc for a structure that shares everything Establishment of National Financial Compliance Portal and Electronic Manual
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Cost Effective Structure
Application of RPA and establishment of a cooperative model with CSP to change everything to a cost-effective structure for implementation of personnel, support systems, operations, maintenance, training, etc
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Preemptive measure
Implement Artificial Intelligence/Machine Learning and rules for conceptual transformation from post-management structure to proactive structure
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Real-Time Response system
Implement a portal and search system for appropriate response/application to all regulatory/regulatory changes in real-time
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Strengthening of professionalism
Proceed as prescribed in laws and regulations without arbitrary interpretation, training to strengthen the expertise of law-abiding personnel, and regulation review through consultation from consulting law firms
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Automation
Apply RPA & Rule and table coding to fully automate the compliance process, report generation and submission
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Compliance control center
Compliance control center for a view at a glance of all compliance including internal controls Implement dashboard for the establishment
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Strengthening the Information Security System
Apply Blockchain/Alternate key technology to strengthen related information security and policy reestablishment