Discover Smart Oversight at Regtech Summit

In October 2019, ahead of the Regtech Summit in Luxembourg, Infinance interviewed Paul Cayon, founding CTO of Smart Oversight, about the way the team builds its product. Smart Oversight, then a young Luxembourg start-up and a member of the LHoFT, was presenting its tool for streamlining KYC processes.

Built with its first users

Before writing the first line of code, the team spent a long time with small and medium-sized businesses on the Luxembourg market, collecting their needs and requirements. For Paul, users should be able to adopt the technology without having to think about it. As he put it: “It is the quality of the result and the recorded time and money savings that remain the only units of measurement.”

Technology in the service of the user

Smart Oversight developed a natural language processing (NLP) algorithm, combined with machine learning, to perform semantic analysis in an anti-money laundering context. Yet clients chose the tool for its interface, its ease of use and the time it saves, not for the technology itself. Keeping the needs of operational teams in view is what limits resistance to change.

Reassuring compliance teams

Compliance departments need support and reassurance on sensitive topics such as where data is located and how securely it is stored. A SaaS solution takes little time to deploy, but regtechs have to show that these concerns are built into their development cycle.

The interview was first published by Infinance in October 2019.

If you would like to learn more about how Smart Oversight can help you save time and reduce inefficiencies—while also helping to protect your company against regulatory, reputational and financial risks—start your free trial today. It only takes a few minutes to set up an account.