Year: 2018
Type: book-chapter
Abstract: This chapter explores the promise and potential of Regulatory Technologies (RegTech), a new and vital dimension to FinTechFinTech. It draws on the findings and outcomes of a five-year research programme to highlight the role that RegTech can play in making regulatory complianceCompliance more efficient and effective. The chapter presents research on the Bank of England/Financial Conduct Authority (FCA) RegTech Sprint initiative, whose objective was to demonstrate how straight-through processing of regulations and regulatory complianceCompliance reporting using semantically enabled applications can be made possible by RegTech. The chapter notes that the full benefits of RegTech will only materialise if the pitfalls of a fragmented Tower of Babel approach are avoided. Semantic standards, we argue, are the key to all this.
Authors: Tom Butler, Leona O’Brien
Institution: University College Cork
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: hybrid
Award: G1888088267
OpenAlex ID: W2904781835