Montréal – On May 19, 2017, the Autorité des marchés financiers (the “AMF”) announced that the OpenReg team won its challenge as part of the FormFintech This link will open in a new window Formathon.
The Formathon is a contest where teams of students propose technological solutions to problems encountered by partner organizations. This initiative aims to increase students’ technical and entrepreneurial skills and to stimulate fintech innovation in Montréal and Québec generally.
“Our participation in this Formathon helps us build a productive communication channel with the fintech industry and remain abreast of technological innovations in the financial sector,” said Eric Stevenson, Superintendent, Client Services and Distribution Oversight at the AMF. “It is in addition to partnerships we have entered into with international regulators and highlights our recent accomplishments in this area, such as the establishment of a Fintech Working Group and the launch of the Fintech Lab, which offers internships to promising students and seeks to set up partnerships with key players from the industry and academia.”
The challenge proposed by the AMF was the development of a tool designed to simplify and streamline the daily monitoring of publications, ads and news releases related to the financial sector and thereby assist with the adoption of regulations in the best interests of industry and consumers.
The OpenReg team, composed of Marie Annie Saucier, Fran Alexander, Veryan Goodship, François Lemoine and Vince Serignese, designed tools to monitor, search and analyze news stories to help analysts reduce data overload and the amount of time spent reading repeat information. OpenReg also proposed offering the suite of applications to the public so businesses and individuals can remain up-to-date and informed about applicable regulations and can interact through a social platform.
The AMF acknowledges the work and efforts of the other teams participating in the Formathon.
The Autorité des marchés financiers (the “AMF”) is the regulatory and oversight body for Québec’s financial sector.
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