Three professionals on their experiences at ACE’s RegTech start-up

Luuk Wagenaar, Harsh Pundhir and Xavier Goby all joined ACE over twelve months ago and have since their arrival been able to contribute to the firm’s rapid growth in the regulatory technology space, while working on challenging projects in the financial services industry. We sat down with them to discuss their experiences at the Dutch consultancy firm.
Active as a Senior Data Scientist, Xavier Goby has several years of experience with topics such as data science, artificial intelligence and machine learning, and programming (mainly Python). Luuk Wagenaar and Harsh Pundhir meanwhile are both Junior Data Scientists, and are rapidly gaining experience in the field.
Taking a step back to one year ago – what motivated you to join the RegTech team of ACE?
Luuk: Having just graduated from university, I was looking for a company which had the intention of doing something disruptive. I wanted to join an environment where I could seriously contribute to the ‘next big thing’. When ACE told me about their ambition to add value to the financial sector with the smart use of AI and data science, I was immediately intrigued and excited.
Harsh: I was drawn to ACE’s innovative vision of transforming the regulatory domain through a combination of financial consulting, advanced AI and data science. The opportunity to contribute to a team that’s pioneering change in the industry was a compelling reason for me to join the team.
Xavier: I was also compelled by ACE’s mission. The opportunity to be part of an endeavour that addresses the challenges in regulatory technology by applying novel AI capabilities was truly captivating. Additionally, the chance to work together with- and learn from a senior team of professionals greatly appealed to me.
What are some of RegTech use cases you are personally most interested in and why?
Luuk: The policy comparison tool we developed is in my eyes a gamechanger. The fact that a professional in banking can upload their own policy and use AI to instantly find gaps in relation to requirements from a regulation is a major timesaver for many. The RegTech tool also shows what should be changed in order to become compliant. I’m proud to have contributed to the development of this tool.
Harsh: I am particularly interested in how ACE is helping financial institutions apply AI to analyse and interpret legal documents, providing very precise regulatory insights. The legal landscape is evolving rapidly, and leveraging AI can help professionals stay on top of the development and grasp the impact of changes quickly and comprehensively.
Xavier: Personally, I am interested in use cases that involve the adoption of semantically enabled technology solutions in regulatory compliance. The entire FinTech sector is undergoing a paradigm shift towards greater integration of semantically enabled IT solutions, and at ACE, we are developing RegTech solutions that smoothen this integration path.
What is the current project you working on?
Luuk: I am currently working on our RegAI platform, mainly focusing on the next phase of our AI integration and smart tooling, while also working on improving the look and feel of the platform.
Harsh: I am focused on developing and expanding our structured legal database, which integrates data from a multitude of diverse sources. This project is pivotal for ACE, as it will underpin many of our upcoming initiatives and has the potential to become a flagship proposition for ACE RegTech.
Xavier: I’m currently spending my time on tracing the lineage of EU-specific financial, legal, and regulatory knowledge. This involves aggregating and collecting datasets from an eclectic assortment of sources, including official regulatory bodies, financial institutions, and legal databases. By ensuring the data we work with is accurate and comprehensive, we can develop more effective AI-driven solutions that encompass all the regulatory requirements within the financial sector.
ACE RegTech is a true start-up with ACE. What do you enjoy about operating in a fast-paced, growing and start-up environment?
Luuk: What I enjoy most is the dynamic nature of the environment, and the variety of roles that comes with this. I’m always working on something different, and sometimes it’s a complete surprise what I’ll be working on the next day! We’re always working on new functionalities while using the latest technology – this is challenging and creates a steep learning curve, while being fun at the same time.
Harsh: The dynamic nature of a start-up environment allows me to engage in various domains – including finance, management, and marketing – broadening my skill set and accelerating my professional growth.
Xavier: I greatly enjoy the ever-present intellectual stimulation that comes from working in a fast-paced, growing start-up like ACE RegTech. The dynamic environment challenges me to continuously learn and innovate. On top of that, I derive a deep sense of fulfilment from the accomplishments we achieve as we pursue our mission. Being part of a team that is making a tangible impact in the industry is very rewarding.
All in all, how do you reflect back on your move and the first year?
Luuk: I am proud of what we’ve achieved, and I’m delighted in how ACE has supported my professional and personal development.
When I joined ACE, the RegTech team was still in its early days, and together we have been able to build something from the ground up and learned a lot of valuable lessons along the way. All our colleagues are really excited about what we’ve developed so far and they love contributing with ideas and feedback for improvement. This synergy is really something which motives me to keep going.
ACE allows me to work in a fast pace environment where I get the possibility to pitch my own ideas and actually materialize them. This, in combination with a large team of extremely skilled colleagues, makes for a fun and ever-changing environment, something I really enjoy participating in.
Harsh: Reflecting on the past year, I'm proud of our rapid growth from a team of a handful members to now over ten-person strong. As we’ve expanded our projects and client base, the scope of our work has increased significantly. Despite strategic adjustments along the way, we've remained true to our mission, which reinforces my optimism for our future at ACE RegTech.
Meanwhile, I appreciate the collaborative environment at ACE RegTech, where the opportunity is handed to work closely with experts across IT and management consulting.
Xavier: Looking back on the past year, I feel a profound sense of accomplishment and pride. We’ve come a long way and achieved so much together as a team. We’ve collaborated to overcome challenges, innovate solutions, and make meaningful strides in leveraging AI and data science for regulatory compliance.
The progress we’ve made reflects our shared dedication and passion for transforming the industry, and I’m excited about what the future holds for the team.