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Mitigation Of Regulations Burden In Financial Sector By Application Of High Tech Solutions

Author

Listed:
  • NEDYALKO VALKANOV

    (Department of Finance, University of Economics – Varna)

Abstract

Introduction of new complex regulations after the crisis of 2007-08 made financial institutions face a peculiar burden caused by the significant increase in their regulatory spending. Meanwhile the application of blockchain-based technologies, artificial intelligence and big data is gaining more and more popularity in different segments of finance, including the regulatory related areas. Appearance of RegTech firms changes the traditional model for treatment of regulatory related issues by financial intermediaries themselves, introducing the opportunity for cooperation with external providers of technological expertise. The article treats the interaction between financial institutions and compliance orientated technological innovations outlining three possible perspectives for future development.

Suggested Citation

  • Nedyalko Valkanov, 2019. "Mitigation Of Regulations Burden In Financial Sector By Application Of High Tech Solutions," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 16(1), pages 19-30.
    • Handle: RePEc:neo:journl:v:16:y:2019:i:1:p:19-30
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    Citations

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    Cited by:

    1. Plamen Dzhaparov, 2020. "Application Of Blockchain And Artificial Intelligence In Bank Risk Management," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 17(1), pages 43-57.
    2. Ani Stoykova & Mariya Paskaleva & Dinko Stoykov, 2020. "Risk Management And Accounting With Fintech," Entrepreneurship, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 8(1), pages 59-73.
    3. Stefan Vachkov & Nedyalko Valkanov, 2021. "Some Aspects Of Regulatory Optimizations In The Financial Sector," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 18(1), pages 1-18.

    More about this item

    Keywords

    financial regulation; compliance; financial and technological innovations;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G - Financial Economics
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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