Lorraine runs a regtech startup in Kenya, offering RegTech-As-A-Service as well as Compliance-As-A-Service. The firm's target market is small businesses and fintechs that have a high burden of compliance and the necessity to keep up with regulatory requirements. RegTech Compliance aims to simplify compliance processes for these firms, making their work much easier. In addition, they empower their clients through the provision of information they require to run their businesses to ensure that choice and decisions are made with a knowledge base.
Lorraine is a lawyer by training and has been admitted to the Kenyan Bar as an advocate of the high court. She has been in compliance, initially in pension and insurance compliance, then in banking and financial compliance and now in regtech. When she was in banking, she was responsible for the communication between the bank itself and the regulator. She had to ensure reports were going out on time, monitor compliance and conduct risk and demonstrate all this to the regulator. The regulator expects documentation of everything to show what you are doing from a compliance perspective. Initially, their documentation was paper-based with physical files. Slowly, they transitioned to shared drives and then to a dashboard generated from Excel and finally they implemented an actual system. This gave Lorraine an appreciation of the technology in her work. As with so many of our RegTech Revealed sessions, she reaffirmed that you need clean and accurate data for your tech systems.
She sees four elements that are important for diversity & inclusion. She talks about genuineness and accountability as well as having clear metrics. To hear more about Lorraine's scary and exciting <her words> regtech career journey, and her views on D&I, we encourage you to click on the link below: