Change Gap 

 CHANGE.GAP . Launched  in the UK early this year they are a company offering a Consultancy model addressing FinTech / RegTech Solutions, and Corporate Social Enterprise

Change.gap founded by Sarah Sinclair and Rob Atkins have launched ‘Mideum’  a new Cloud-based technology platform providing lean functionality based on a configurable data model. The demo that I saw focused on a solution which exchanges complexity with simplicity in the liquidity and modelling space. The prudential regulatory requirements related to your Banking licence is highly regulated in terms of Capital, Liquidity, Credit etc. this is not an area where you would take a low risk approach, you need to ensure that you get this complex stuff right and Change.gap facilitates transparency in a simple way.

Collating the data required to calculate liquidity usually involves pulling transactional and financial data from a number of sources, churning them through age-old coded algorithms hidden in legacy systems and extracting a series of numbers. What often is hidden in this process is the varied quality of the source data resulting in a need for ad-hoc manual adjustments, or the fact that some of these algorithms are decades old, executed on complex manual spreadsheets with macros and some 80’s VBA that no one really understands or wants to fiddle with.

The change.gap team are not new to this problem either, and have collaborated to produce a very simple product using Cloud + SaaS platform that provides data lineage, data quality assurance, validation and regulatory transparency.

The system is simple to configure, use and scale, due to its modular design. It can be set up in minimal time, extracting source data from legacy systems, executing its processes and providing easy to understand  outputs in a fraction of the time that it would take to reconcile your data using older methods. 

So where does this fit into the lifecycle of Regulatory Change as a RegTech contender?

The product addresses data Monitoring and Reporting  

How does it address the regulatory aspect ?

In its functionality the output provided identifies what regulatory function has been validated, so in short it is proactively telling you if you are compliant as well as telling you that your data is clean and accurate, such timely information will enable you to adjust your outputs  providing traceability necessary to ensure that you meet the regulatory requirements and do the right thing.

What is the user experience ?

This was a virtual demo, so I didn’t have a chance to “play’, and visually the demo system is basic, but readily configurable to  a live version that suits the users.

​

Is this worth a look ?

Absolutely, If I were  providing reports that end up with my Board, Shareholders, Customers and Regulator, I would most definitely sleep better at night knowing that the data used and the results can be trusted.