#RegTech: Enable 1st 100% Regulatory Compliant & Risk Managed Community Bank (Repeat)
I came up with the idea of a Tech enabled community bank consulting firm after 4 years as a large bank regulator at the Chicago Fed and researching the current state of management consulting. Bankers and regulators alike are always talking about the challenges of dealing with the onslaught of bank regulations and how much large banks (banks with assets over $50B) spent on traditional consultants. However, community banks (roughly 90% with assets under $1B) often did not have the resources to comply with avalanche of banking regulations internally or afford high-priced consultants. With a ongoing innovations in cloud-based/SaaS platforms and artificial intelligence technologies, a consulting firm like mine could effectively compete with larger, generalist consulting firms by picking a niche and executing on delivering great professional services enabled by these technologies. In July of 2015, I launched Big Leaf to solve these community bank regulatory and consulting challenges.