A lot of media focus remains around fintech and the huge advances that are being made in service delivery and customer interaction and engagement.
Less focus is given in mainstream media to the huge amounts of regulation that now exist in the financial services sector.
The picture is of the US yes, but in the UK this inevitably came on the back of the so called 'credit crunch' in 2008/2009 when government attention was rightly turned to look at how to prevent similar situations arising in future. Debates will no doubt rage forever as to whether the changes we've seen are/will be successful, but this article is useful in highlighting the possible benefits to be made by using technology to streamline some of these regulatory requirements.
It seems to me that to truly realise the potential of technology in financial services, regulators too need harness technology so that regulator, supplier and customer are each are able to work together, engaged and harmoniously.
But if banking can be algorithmic, what about financial regulation and supervision?