New technologies, Cloud based services, Crowdfunding, FinTech using AI and Neural Networks, Blockchain are rapidly changing the economics and landscape of regulated industries, including but not exclusively, banking and finance. New products, services, non-industry players, are radically changing the nature of the markets and the relationship between supervisors and market participants. Regulators have to adapt and innovate (along with the incumbents), avoiding regulatory barriers to new competitive and disruptive forces that promise greater financial inclusion and financial depth.
The presentation titled “Regulating New Technologies: FinTech, RegTech, SupTech” was delivered by Dr. Nasser Saidi at the FinanceMalta 11th Annual Conference held in Malta on the 17th of May 2018. Technological advancements are disrupting many regulated industries: do regulators have the capacity to adapt to new tech? The presentation looks in-depth at the ever-evolving regulatory landscape for RegTech/SupTech, and identify “good practices” for policymakers, regulators and supervisors.
This was part of a panel session titled “RegTech: Reshaping the Supervisor Market Participant Relationship” and was followed by a discussion.
