An evaluation of the regulations used to
control fintech firms in the financial
industry
Alsubaie, Aseel. Group 2
01 Background of Fintech
Features
02 Regulatory Challenging
Outline
Compliance
Money Laundering
Data Privacy
03 Solution
Sandbox
Regtech
04 Conclusion
05 Reference List
The Concept of Fintech
Digitization of financial services
Easier and Faster
Wide customer categories
Produce regulatory Issue (Kulkarni & Lakhe, 2020)
Why
Fintech
produces
regulatory
risk?
Characterized
by
high flexibility and
decentralization
(Magnuson, 2018)
Finance/lend with no
intermediary
User
High
growth
rate
compared to regulatory
approach (Kulkarni &
Lakhe, 2020)
Online
Platform
User
The regulatory Challenging
THE LACK OF
COMPLIANCE
MONEY LAUNDERING
DATA PRIVACY
The cost of establishing
compliance program
Encouraging
money
laundering activities
Access a large amount of
sensitive customer
The potential for
profitability exceeds fines
limitation in anti-money
laundering regulations
Data privacy regulations
is a constraint
Diversity of sources in
legislation
Crypto assets enable
illegal markets (Foley et
al, 2018)
Centralizing
government
companies
data
in
Vs
Tech
The Regulatory Strategies for Fintech Risk
Support of authority
Sandbox
Involvement of
stakeholders
Uncertainty about efficacy
(Brown & Piroska, 2021)
The Regulatory Strategies for Fintech Risk
Enhance controling activities
Regtech
Reducing regulatory process
expenses
improve the ability of comply
and quality of reports
A serious influence on the
sophistication of AML (Kurum,
2020)
Coclusion
How employees can benefit
from working in the new normal
As fun and engaging as open-space offices are, the necessity to
work from home due to the pandemic comes with assurance and
convenience. Employees can be with their families, earn, and be
safe from health risks - all made possible through technology.
References List
Chorzempa, M. and Huang, Y. (2022), Chinese Fintech Innovation and Regulation. Asian Economic Policy Review,
17: 274-292.
https://doi.org/10.1111/aepr.12384
Anagnostopoulos, Ioannis. (2018). Fintech and Regtech: Impact on regulators and banks. Journal of Economics
and Business. https://doi.org/10.1016/j.jeconbus.2018.07.003
Foley, S., Karlsen, J. R., and Putnins, T. J. (2018). Sex, Drugs and Bitcoin: How Much Illegal Activity is Financed
Through Cryptocurrencies. London: Working Paper. https://doi.org/10.1093/rfs/hhz015
Allen, Hilary J. (2020) Experimental Strategies for Regulating Fintech. 3 J. L. & Innovation 1 (2020) ,
http://dx.doi.org/10.2139/ssrn.3533240
Giudici P (2018) Fintech Risk Management: A Research Challenge for Artificial Intelligence in Finance. Front. Artif.
Intell. 1:1. https://doi:10.3389/frai.2018.00001
Kurum. Esman. (2020) RegTech solutions and AML compliance: what future for financial crime?. Journal of
Financial Crime. ISSN: 1359-0790 https://DOI:10.1108/JFC-04-2020-0051
Alessio Faccia, Narcisa Roxana Moşteanu, Luigi Pio Leonardo Cavaliere, and Leonardo Jose Mataruna-DosSantos. 2020. Electronic Money Laundering, The Dark Side of Fintech: An Overview of the Most Recent Cases. In
Proceedings of the 2020 12th International Conference on Information Management and Engineering (ICIME
2020).
Association
for
Computing
Machinery,
New
York,
NY,
USA,
29–34.
https://doi.org/10.1145/3430279.3430284
S. Chen, S. Doerr, J. Frost, L. Gambacorta, H.S. Shin, (2023). The fintech gender gap. Journal of Financial
Intermediation, Volume 54, 101026, ISSN 1042-9573. https://doi.org/10.1016/j.jfi.2023.101026.
aseel.alsubaie.2023@uni.strath.ac.uk
References List
Chorzempa, M. and Huang, Y. (2022), Chinese Fintech Innovation and Regulation. Asian Economic Policy Review, 17: 274292.
https://doi.org/10.1111/aepr.12384
Anagnostopoulos, Ioannis. (2018). Fintech and Regtech: Impact on regulators and banks. Journal of Economics and
Business. https://doi.org/10.1016/j.jeconbus.2018.07.003
Foley, S., Karlsen, J. R., and Putnins, T. J. (2018). Sex, Drugs and Bitcoin: How Much Illegal Activity is Financed Through
Cryptocurrencies. London: Working Paper. https://doi.org/10.1093/rfs/hhz015
Allen, Hilary J. (2020) Experimental Strategies for Regulating Fintech. 3 J. L. & Innovation 1 (2020) ,
http://dx.doi.org/10.2139/ssrn.3533240
Giudici P (2018) Fintech Risk Management: A Research Challenge for Artificial Intelligence in Finance. Front. Artif. Intell. 1:1.
https://doi:10.3389/frai.2018.00001
Kurum. Esman. (2020) RegTech solutions and AML compliance: what future for financial crime?. Journal of Financial Crime.
ISSN: 1359-0790 https://DOI:10.1108/JFC-04-2020-0051
Alessio Faccia, Narcisa Roxana Moşteanu, Luigi Pio Leonardo Cavaliere, and Leonardo Jose Mataruna-Dos-Santos. 2020.
Electronic Money Laundering, The Dark Side of Fintech: An Overview of the Most Recent Cases. In Proceedings of the 2020
12th International Conference on Information Management and Engineering (ICIME 2020). Association for Computing
Machinery, New York, NY, USA, 29–34. https://doi.org/10.1145/3430279.3430284
S. Chen, S. Doerr, J. Frost, L. Gambacorta, H.S. Shin, (2023). The fintech gender gap. Journal of Financial Intermediation,
Volume 54, 101026, ISSN 1042-9573. https://doi.org/10.1016/j.jfi.2023.101026.
aseel.alsubaie.2023@uni.strath.ac.uk
Work-Life Before
Technology
Editing and bookkeeping took weeks to finish.
Print advertising was the go-to for businesses.
Time tracking was computed manually.
Work-Life With
Technology
Word processors and other software allow
faster (and more accurate) editing and
bookkeeping.
Online advertising has a broader scope and will
enable you to reach a larger audience.
Time tracking and employee management are
done with better programs.
The regulatory Challenging
THE LACK OF COMPLIANCE
The cost of establishing compliance program
The potential for profitability exceeds fines
Diversity of sources in legislation
The Regulatory Strategies for Fintech Risk
STARTEGY 1
STARTEGY 2
Sandbox
Regtech
The support of authority
Enhance monitoring activities
The involvement of
stakeholders
Reducing regulatory process
expenses
improve the quality of reports
launders its risk rather than
controlling it (Brown & Piroska,
2021)
A serious influence on the
sophistication of AML (Kurum,
2020)
The regulatory Challenging
The lack of compliance
Money Laundering
Data Privacy
Regulations are yet
to be improved.
Hackers can gain access
to your accounts.
Security codes and passwords
could be easily accessed.
Characterized
by
high
flexibility and decentralization
(Magnuson, 2018)
Finance/lend with no
intermediary
User
Online Platform
User
High growth rate compared to
the regulatory approach
(Kulkarni & Lakhe, 2020)
Benefits of
Technology
Will remote work
become the new norm?
How employees can benefit
from working in the new normal
As fun and engaging as open-space offices are, the necessity to
work from home due to the pandemic comes with assurance and
convenience. Employees can be with their families, earn, and be
safe from health risks - all made possible through technology.
What's Next in Tech Workspace
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choose "Merge Cells" to organize your table
according to your needs!
01
Increased task automation and use of artificial intelligence.
02
Extra focus on high-value tasks.
03
Continuous investment in cybersecurity and security technology.
04
A better conscious focus on mental health.
05
Greater geographic distribution and representation of the workforce.
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