Book contents
- FinTech
- FinTech
- Copyright page
- Contents
- Figures
- Acknowledgements
- Abbreviations and Technical Terms
- 1 Introduction
- Part I Digital Transformation of Finance and Regulation
- 2 Evolution of FinTech
- 3 Smart Regulation
- 4 RegTech and the Reconceptualisation of Financial Regulation
- 5 COVID-19, Digital Finance, and Existential Sustainability Crises
- 6 Drivers of Change
- Part II Addressing the Challenges of Innovation in Finance
- Part III Building Better Financial Systems
- Part IV From FinTech to TechFin to BigTech to FinTech 4.0
- Part V Conclusion
- Index
4 - RegTech and the Reconceptualisation of Financial Regulation
from Part I - Digital Transformation of Finance and Regulation
Published online by Cambridge University Press: 09 November 2023
- FinTech
- FinTech
- Copyright page
- Contents
- Figures
- Acknowledgements
- Abbreviations and Technical Terms
- 1 Introduction
- Part I Digital Transformation of Finance and Regulation
- 2 Evolution of FinTech
- 3 Smart Regulation
- 4 RegTech and the Reconceptualisation of Financial Regulation
- 5 COVID-19, Digital Finance, and Existential Sustainability Crises
- 6 Drivers of Change
- Part II Addressing the Challenges of Innovation in Finance
- Part III Building Better Financial Systems
- Part IV From FinTech to TechFin to BigTech to FinTech 4.0
- Part V Conclusion
- Index
Summary
RegTech is the use of technology, particularly information technology, in monitoring, compliance and regulatory reporting by industry, and in supervision and enforcement by regulators. For industry, regulators and policymakers, the pace of transformation in digital financial products and systems requires ever greater use of RegTech. In this sense, FinTech demands RegTech. While the principal regulatory objectives of financial stability, prudential safety, consumer protection, and promoting competition remain, their attainment increasingly requires the deployment of sophisticated technology by both reporting entities and regulators. The increasing use of RegTech prompts a paradigm shift necessitating the reconceptualisation of financial regulation.
- Type
- Chapter
- Information
- FinTechFinance, Technology and Regulation, pp. 43 - 57Publisher: Cambridge University PressPrint publication year: 2023