Financial Regulatory Technologization in the Context of Europe`s Digital Decade

Nedyalko Valkanov ()
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Nedyalko Valkanov: University of Economics - Varna, Varna, Bulgaria

Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, 2023, issue 1, 85-94

Abstract: Тhe European Commission (EC) announced the Digital Decade as a vision for digital transformation of Europe by 2030 in four directions: skills, infrastructures, business, and government. Meanwhile, there is also an increasingly strong dependence of the financial sector on various technological innovations. Regulatory technologies in this regard play a key role in ensuring compliance with the ever-complex financial regulatory framework. The article analyzes the current state and prospects for the financial supervision system from the perspective of the European digital strategy. Emphasis is placed on the possibility of implementing smart technologies in the prevention of various financial violations and the formation of new levels of partnerships between financial institutions, regulators and RegTech firms as providers of regulatory expertise.

Keywords: innovations; regulatory technologies; digital finance; compliance (search for similar items in EconPapers)
JEL-codes: G18 G28 O30 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:vrn:suvrna:y:2023:i:1:p:85-94

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