Lucsan, an Australian RegTech specialising in data analytics, has hired Stuart Frith in a move to further accelerate growth.
Frith, who will take on the role of group sales & delivery director, has extensive experience in improving financial market infrastructures and bringing technology to market to enhance regulatory practices.
He joins the team from ASIC, having previously held a position with the London Stock Exchange.
In his new role, Frith will be responsible for enhancing compliance practices for wealth, banking and financial services clients with leading technology solutions.
“In the wealth industry, there’s a great opportunity for a technology solution that will help companies to satisfy their regulatory obligations in a more efficient and effective way”, he said.
“Technology in financial markets has become very automated, and you can see that the same kind of trend will evolve in the financial advisory space. My goal is to help our clients at Lucsan automate the compliance function, so that they can focus on enhancing business growth.”
Lucsan will play a ‘very significant role in this space’; particularly as a result of its new partnership with IRESS according to Frith.
In September, Lucsan received backing from Australian software company IRESS.
IRESS’s strategic equity investment is accelerating the application of RegTech in the financial services landscape, supporting Lucsan’s focus on expanding its business in Australia and into international markets.
Harold Lucero, founder and chairman of Lucsan, added: “We’re delighted to welcome Stuart to the team at an exciting stage in the company’s development. Lucsan is currently going through an enhanced business strategy, with IRESS’ recent minority in Lucsan set to transform the way businesses manage compliance and regulation.
Lucsan is an Australian-owned RegTech and data analytics company providing technology solutions to a wide range of companies, including Australia’s major banks.
Founded in 1999, the company’s vision is to help financial institutions reduce the ongoing cost of compliance and implement improved practices.
Lucsan was recently hand-picked by a panel of industry experts for the RegTech 100, a list of companies that every financial institution should know about in 2018. The RegTech 100 is part of the Global RegTech review – an essential, in-depth analysis of the global RegTech market.
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