Asia Tech Podcast – Episode 98 – Hardesh Singh and Shubhankar Srivastava – RADICALi – Compliance Risk is Existential

The Asia Tech Podcast had the pleasure of speaking with Hardesh Singh the CEO and co-Founder of RADICALi and Shubhankar Srivastava, a co-Founder and RADICALi’s CTO.  RADICALi is building a platform of intelligent solutions that makes it easier to get regulations right in a world where this is becoming more and more important.  Shubhankar is a very talented computer scientist who has extensive experience with both artificial intelligence and machine learning.  Hardesh is a qualified solicitor who has always been interested in the intersection of law and business.  After working as a compliance professional for almost a decade, he ventured out with his partners to build RADICALi.

Regulation Technology or RegTech is the space in which RADICALi operates.  Essentially, RegTech is the application of technology to the management of regulatory processes.  This is most commonly used in Financial Services, but applied and implemented properly is valid for any industry that has a defined regulatory environment.

Consider the sheer volume of regulations that apply to a typical Financial Services firm.  Then consider the implications of violating those regulations because one’s compliance team was not aware of the minutiae of each and every relevant regulation.  RADICALi is building systems to digitize and track changes for all of these regulations and by doing so making the lives of compliance officers easier and potentially lowering the likelihood that regulations will get violated.  Take a look at what can happen to a bank like Deutsche Bank when their regulatory supervision runs amok.  The level of financial risk is huge, but so is the reputation risk.

RADICALi is also building workflow tools to help compliance professionals, including law firms, consultants, and internal compliance departments to work together more seamlessly.  Scaling the business with artificial intelligence, machine learning, and NLP (Natural Language Procession), RADICALi aims to consolidate a very fragmented global industry and help streamline processes and workflows across any industry and its regulatory environment globally.  This is a massive and growing market with Grand View Research predicting that it will reach over $55 billion globally by 2025.