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Some Aspects Of Regulatory Optimizations In The Financial Sector

Author

Listed:
  • Stefan Vachkov

    (University of Economics – Varna, Department of Finance)

  • Nedyalko Valkanov

    (University of Economics – Varna, Department of Finance)

Abstract

Rapid development of the high technologies sector undoubtedly reflects the present-day financial regulation. Innovations like blockchain, cloud computing and artificial intelligence underlie the foundations of newly appeared RegTech firms and SupTech initiatives and quickly appear in the toolbox of contemporary financial supervision. The article examines some key trends related to their involvement and implementation by financial institutions and supervisors. Several arguments supporting the thesis for gradual transition to a more integrated and interactive model of financial regulation, characterized by a change from institutional to platform financial regulatory infrastructure, are presented.

Suggested Citation

  • 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.
    • Handle: RePEc:neo:journl:v:18:y:2021:i:1:p:1-18
    DOI: 10.37708/em.swu.v18i1.1
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    References listed on IDEAS

    as
    1. Raphael Auer, 2019. "Embedded supervision: how to build regulation into blockchain finance," BIS Working Papers 811, Bank for International Settlements.
    2. Miroslav Nedelchev, 2020. "Origin And Definition Of Regtech," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 17(1), pages 1-9.
    3. 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.
    4. 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.
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    More about this item

    Keywords

    financial regulations; blockchain; artificial intelligence; big data; FinTech; RegTech; SupTech;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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