Bits and bytes of financial regulation: the RegTech environment

Detalhes bibliográficos
Autor(a) principal: Miguel, A. F.
Data de Publicação: 2019
Outros Autores: Algarvio, D.
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10071/20068
Resumo: Since 2008, banks have spent more than €342 billion on settlements, enforcement actions, and fines, and until 2020 according to Reuters this value is expected to rise to €400 billion. As a result, technological solutions were implemented to help financial institutions deal with the increasing compliance burden and regulators addressing the constant difficulties of enforcing and monitoring regulatory requirements to limit risks and promote financial stability. This led to the emergence of a whole new movement in the Financial Industry: Regulatory Technology or Regtech. The aim of this paper is to explain the regtech environment in the financial sector. We highlight how technology can help financial institutions dealing with risky behavior and regulatory demands in the most efficient and cost-effective way.
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spelling Bits and bytes of financial regulation: the RegTech environmentFinancial marketsRegtechRegulationTechnologySurveillanceFintechSince 2008, banks have spent more than €342 billion on settlements, enforcement actions, and fines, and until 2020 according to Reuters this value is expected to rise to €400 billion. As a result, technological solutions were implemented to help financial institutions deal with the increasing compliance burden and regulators addressing the constant difficulties of enforcing and monitoring regulatory requirements to limit risks and promote financial stability. This led to the emergence of a whole new movement in the Financial Industry: Regulatory Technology or Regtech. The aim of this paper is to explain the regtech environment in the financial sector. We highlight how technology can help financial institutions dealing with risky behavior and regulatory demands in the most efficient and cost-effective way.Center for Promoting Ideas2020-03-09T17:34:13Z2019-01-01T00:00:00Z20192020-03-09T17:33:12Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10071/20068eng2219-193310.30845/ijbss.v10n9a12Miguel, A. F.Algarvio, D.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T17:52:33Zoai:repositorio.iscte-iul.pt:10071/20068Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:26:12.236472Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Bits and bytes of financial regulation: the RegTech environment
title Bits and bytes of financial regulation: the RegTech environment
spellingShingle Bits and bytes of financial regulation: the RegTech environment
Miguel, A. F.
Financial markets
Regtech
Regulation
Technology
Surveillance
Fintech
title_short Bits and bytes of financial regulation: the RegTech environment
title_full Bits and bytes of financial regulation: the RegTech environment
title_fullStr Bits and bytes of financial regulation: the RegTech environment
title_full_unstemmed Bits and bytes of financial regulation: the RegTech environment
title_sort Bits and bytes of financial regulation: the RegTech environment
author Miguel, A. F.
author_facet Miguel, A. F.
Algarvio, D.
author_role author
author2 Algarvio, D.
author2_role author
dc.contributor.author.fl_str_mv Miguel, A. F.
Algarvio, D.
dc.subject.por.fl_str_mv Financial markets
Regtech
Regulation
Technology
Surveillance
Fintech
topic Financial markets
Regtech
Regulation
Technology
Surveillance
Fintech
description Since 2008, banks have spent more than €342 billion on settlements, enforcement actions, and fines, and until 2020 according to Reuters this value is expected to rise to €400 billion. As a result, technological solutions were implemented to help financial institutions deal with the increasing compliance burden and regulators addressing the constant difficulties of enforcing and monitoring regulatory requirements to limit risks and promote financial stability. This led to the emergence of a whole new movement in the Financial Industry: Regulatory Technology or Regtech. The aim of this paper is to explain the regtech environment in the financial sector. We highlight how technology can help financial institutions dealing with risky behavior and regulatory demands in the most efficient and cost-effective way.
publishDate 2019
dc.date.none.fl_str_mv 2019-01-01T00:00:00Z
2019
2020-03-09T17:34:13Z
2020-03-09T17:33:12Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10071/20068
url http://hdl.handle.net/10071/20068
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 2219-1933
10.30845/ijbss.v10n9a12
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Center for Promoting Ideas
publisher.none.fl_str_mv Center for Promoting Ideas
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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