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Message: [QUOTE="Queen, post: 86461, member: 27"] Zimbabwe's Securities Exchange Commission just teamed up with local universities to build homegrown anti-money-laundering tech instead of dropping cash on pricey foreign systems. The competition structure and finalists [LIST] [*]Four universities qualified: University of Zimbabwe, Midlands State University, Harare Institute of Technology, and NUST. [*]HIT and NUST advanced to the finals, each receiving 15,000 dollars in funding. [*]NUST won first prize for its AML Risk-Based Supervision prototype design. [*]HIT claimed first place in Prudential Risk-Based Supervision and second in AML. [/LIST] What drove the partnership between SecZim and academia [LIST] [*]The initiative arose from a competition where universities created ICT solutions for regulatory challenges. [*]SecZim commissioner Tichaona Mushambadope emphasized partnerships producing tailor-made solutions for Zimbabwe's financial sector. [*]Capital market regulations guided the process with rigorous vetting from sister organizations. [*]The strategy aims to invest in young innovators supporting transparent, tech-led capital markets. [/LIST] NUST's winning approach to money laundering detection [LIST] [*]Computer Science Department head Sibangiso Ngwenya praised his team's collaborative development effort. [*]Students and staff worked together after SecZim presented the challenges it faced. [*]The prototype could reduce financial crime and strengthen confidence in transactions across sectors. [*]Winning validated the university's problem-solving approach according to Ngwenya's assessment. [/LIST] How the prototypes will improve regulatory efficiency [LIST] [*]Tawanda Makombe from HIT's Business and Management Sciences highlighted valuable student experience gained. [*]Automated solutions are expected to close loopholes and boost resource efficiency. [*]Zimbabwe can develop its own systems rather than relying on expensive foreign technology. [*]The prototypes fit hand in glove with SecZim's regulatory needs per Mushambadope's statement. [/LIST] [/QUOTE]

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