MITIGATION OF REGULATIONS BURDEN IN FINANCIAL SECTOR BY APPLICATION OF HIGH TECH SOLUTIONS

Nedyalko Valkanov ()
Additional contact information
Nedyalko Valkanov: Department of Finance, University of Economics – Varna

Economics and Management, 2019, vol. 16, issue 1, 19-30

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.

Keywords: financial regulation; compliance; financial and technological innovations (search for similar items in EconPapers)
JEL-codes: G G20 O30 (search for similar items in EconPapers)
Date: 2019
References: View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://em.swu.bg/images/SpisanieIkonomikaupload/Sp ... NANCIAL%20SECTOR.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:neo:journl:v:16:y:2019:i:1:p:19-30

Access Statistics for this article

More articles in Economics and Management from Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD Contact information at EDIRC.
Bibliographic data for series maintained by Vladislav Krastev ().