Bits and bytes of financial regulation: the RegTech environment
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Outros Autores: | |
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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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 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
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 |
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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 instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799134825265758208 |