Could suptech spell the end of financial crises?

摘要

WHAT IS HAPPENING? The move towards digitisation has been accelerated by the Covid-19 pandemic, particularly with most workforces having to work remotely due to population lock-downs. Banks have long appreciated the use of technology and see it as vital for complying with the raft of increasingly complex and demanding regulatory requirements that sprung up following the 2007-2009 global financial crisis (GFC). Indeed, complying with reporting requirements alone in the Markets in Financial Instruments Directive (MiFID) Ⅱ and the Securities Financing Transactions Regulation (SFTR) would be impossible without technology. The lockdowns have only served to accelerate the focus on technology-driven solutions, known as regtech, for the regulated.