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The Symbiosis “Fintech-Regtech-Suptech” Or Vision For High-Tech Financial Regulaton

Author

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  • Nedyalko Valkanov

    (University of Economics - Varna, Varna, Bulgaria)

Abstract

Today digital transformation in financial sector is fully accepted and regular process. Introduction of platform solutions, emergence of virtual networks for peer-to-peer lending and crowdfunding, neobanks and online payment systems are examples for the need of rapid adaptation by financial regulators. A number of initiatives in this regard have already been observed. Constantly growing are different high-tech initiatives undertaken by supervisory agencies. The report highlights some current trends related to the digitalisation of financial industry and corresponding regulatory activities. Subject of the analysis is the concept for decentralization of regulatory related activities by their "sharing" between supervisory agencies and regulated entities. The focus is on the potential of blockchain technology, artificial intelligence and the processing of big data, and their integration in different compliance related activities.

Suggested Citation

  • Nedyalko Valkanov, 2020. "The Symbiosis “Fintech-Regtech-Suptech” Or Vision For High-Tech Financial Regulaton," Economic Science, education and the real economy: Development and interactions in the digital age, Publishing house Science and Economics Varna, issue 1, pages 173-185.
    • Handle: RePEc:vrn:cfdide:y:2020:i:1:p:173-185
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    More about this item

    Keywords

    financial regulation; financial innovations; compliance; blockchain; artificial intelligence; big data;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • 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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