2023 - A Retrospective of Vaiie’s year

Growing the team to meet market opportunities

2023 has been a year of growth for Vaiie and we are not standing still. As a business we are committed to Jersey’s digital sector and match its ambition for growth.

Earlier this year we announced the arrival of Jamie Le Brun, Jonathan Flanagan, Jack Le Riche and Joe Harvey as Senior Developers. A Jersey-based development team with extensive financial services and regulatory experience means our market leading RegTech software is built locally with international finance centers in mind in Jersey by one of the strongest development teams on the Island.

Some of our new joiners have shared their experiences of what it is like to join Vaiie...

We also welcomed Jordy Thevenon as Product Manager. As well as growing our expert team, our Customer Success Manager Garry Evans celebrated 20 years with Vaiie and Jersey Post.

Product innovation and evolution

We also delivered a roadmap of major enhancements for our Onboard product. Onboard is a rapid, frictionless and compliant digital onboarding platform. It helps our clients shorten their onboarding process with an intuitive workflow and customer outreach capability that meets the needs of businesses and the tech first expectations of customers.

Our Identify product has been improved, in addition to continual security updates we have deployed new features including bulk upload to support remediation activities, operator assistance live chat, device switching, and digital signature integration. Improvements to API and iFrame capabilities, and integration with Microsoft Power Pages give our clients more control over how they can implement Identify within their existing processes for an enhanced customer journey.

Jersey’s regulatory landscape

2023 has been an interesting year in the regulatory landscape. It would be remiss not to mention MONEYVAL, the assessment that has not only been largely talked about over the past few years but that has also dictated a whole suite of regulatory changes and requirements for businesses in Jersey. The visit of the MONEYVAL assessors took place in September and we are expected to hear the outcome in July 2024.

There have been pro RegTech moves made by a number of key bodies and agencies in Jersey including the Government of Jersey, Jersey Financial Services Commission, Jersey Finance, Digital Jersey, the Office of the Information Commissioner, and Jersey Business to name a few. We have seen a clear shift in perceptions of tech with RegTech recognised as a capacity creator, freeing up the valuable and in demand resource of compliance professionals so that they can really focus on what is critical for them and their business. At Vaiie, we have openly welcomed pro RegTech initiatives and have been working with clients to help them implement bespoke solutions to best support their business needs.

Vaiie Views

It is important for us to be ahead of the curve when it comes to developments for RegTech and more broadly FinTech for financial service businesses in Jersey. Throughout the year we have published a number of articles online and in print where we share our thoughts and key takeaways from emerging tech and regulatory trends. You can find all of these updates on our website.

If you haven’t already, follow us on LinkedIn to keep up to date with our insights and if you would like to collaborate on us with on content or for Vaiie to participate in an event of yours please get in touch.

ISO:27001 reaccreditation

For the third year running, we achieved our ISO:27001 certification, one of only a handful of Channel Islands firms to do so.

ISO:27001 is one of the highest standards in information security accreditation, it provides companies and their clients alike with the reassurance that comprehensive information security management systems are in place, it can even prove to be a competitive advantage.

We used Cyber Security Awareness month to deliver a lunchtime session for CERT to discuss our accreditation journey and what to look out for as part of reaccreditation.

Run for Kezia

It’s really important for us at Vaiie to give back to the wider community. In September we were the proud co-sponsor of Run for Kezia which is focussed on raising awareness around the importance of mental health in young people. Building good mental health is as important as physical health and it is important that this message of seeking help, if needed, without shame is highlighted and reinforced with young people to take these practices into adulthood.

The team supported on the day by either running in the event or marshaling and supporting the almost 800 runners. The run has raised £5,000 so far for the Jersey Community Foundation.

Vaiie23 - Our annual RegTech event

Finally as we reach the end of the year, in November we hosted our sold out Annual RegTech Seminar which had a theme of ‘RegTech and the problems to be solved’.

Our keynote speaker Daniel Hulme, Chief AI Officer at WPP delivered a phenomenal presentation on AI and talked through how businesses can and should be adopting AI technology to solve not just today’s but future challenges by using AI technology in their businesses. Our panel Ches Trower, Julie Keir, Stephen Reilly, and Paul Worsnopp also shared their exceptional insights about barriers, both perceived and actual, to local RegTech adoption and how these can turn into positive opportunities it brings for local businesses. Throughout our event, there were active discussions on the latest challenges faced by those in the digital and RegTech industry and the ways in which RegTech is supporting risk and compliance professionals. Needless to say, the event was one to remember and you can see some of the highlights below.

Looking ahead to 2024

As we look ahead, we want to take this opportunity to thank all of our clients and key partners both old and new for their continued support. The coming year is looking to be an even bigger year for RegTech as adoption continues to accelerate and our growing team is in place and ready to continue to provide outstanding service for everyone that interacts with Vaiie.

To find out more about Vaiie contact us at hello@vaiie.com.