Regulation as a platform: How Data61 is turning text into APIs to serve the burgeoning RegTech industry

The cost of compliance is billions of dollars high and rising. Now scientists are applying some logic to the situation.

By George Nott
June 9, 2017

Rather than translating text to code, regulators would set regulation as computable logic, which could be put into text if needed.

"At the moment what we're doing is essentially backward compatibility, but the end state is print to text if you feel like it but the business rule is the thing that's important it's not the actual words written down on a page," says Hanlen. "We're trying to work at the creation stage of legislation rather than let's reverse engineer the logic out of the legislation."

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