Innovative regulating technologies: revision of finance supervision
The global finance crisis of 2008 ushered a new era of finance technologies (fintech) marked by a whole wave of new start-ups supplying new technologies. At the same time the global finance crisis caused a serious reform of finance regulation and considerable revision of finance supervision efficien...
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| Format: | Article |
| Language: | Russian |
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Plekhanov Russian University of Economics
2018-10-01
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| Series: | Вестник Российского экономического университета имени Г. В. Плеханова |
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| Online Access: | https://vest.rea.ru/jour/article/view/567 |
| _version_ | 1797700106737156096 |
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| author | D. I. Philippov |
| author_facet | D. I. Philippov |
| author_sort | D. I. Philippov |
| collection | DOAJ |
| description | The global finance crisis of 2008 ushered a new era of finance technologies (fintech) marked by a whole wave of new start-ups supplying new technologies. At the same time the global finance crisis caused a serious reform of finance regulation and considerable revision of finance supervision efficiency. As a result of post-crisis reforms a drastic transformation of the finance market and finance services took place. The author shows that growth in finance technologies raises certain questions for finance bodies, for example, whether it is necessary to extend regulating and supervising perimeter; if new types of digital finance services comply with existing rules; how to identify, estimate, cut and monitor risks of fintech-innovation. There are also questions concerning possible disintermediation caused by finance technologies, which means the exclusion of mediators from production and sale chain, i.e. selling products directly to customers without wholesale and retail resellers and potential impact on finance stability as well as new ways of central banks functioning. And finally, another question, if risks to cyber-security and data protection are well understood, managed and reduced. |
| first_indexed | 2024-03-12T04:17:13Z |
| format | Article |
| id | doaj.art-971c91247f4f45f785d8893ff623d098 |
| institution | Directory Open Access Journal |
| issn | 2413-2829 2587-9251 |
| language | Russian |
| last_indexed | 2024-03-12T04:17:13Z |
| publishDate | 2018-10-01 |
| publisher | Plekhanov Russian University of Economics |
| record_format | Article |
| series | Вестник Российского экономического университета имени Г. В. Плеханова |
| spelling | doaj.art-971c91247f4f45f785d8893ff623d0982023-09-03T10:34:59ZrusPlekhanov Russian University of EconomicsВестник Российского экономического университета имени Г. В. Плеханова2413-28292587-92512018-10-0105546810.21686/2413-2829-2018-5-54-68517Innovative regulating technologies: revision of finance supervisionD. I. Philippov0Российский экономический университет имени Г. В. Плеханова.The global finance crisis of 2008 ushered a new era of finance technologies (fintech) marked by a whole wave of new start-ups supplying new technologies. At the same time the global finance crisis caused a serious reform of finance regulation and considerable revision of finance supervision efficiency. As a result of post-crisis reforms a drastic transformation of the finance market and finance services took place. The author shows that growth in finance technologies raises certain questions for finance bodies, for example, whether it is necessary to extend regulating and supervising perimeter; if new types of digital finance services comply with existing rules; how to identify, estimate, cut and monitor risks of fintech-innovation. There are also questions concerning possible disintermediation caused by finance technologies, which means the exclusion of mediators from production and sale chain, i.e. selling products directly to customers without wholesale and retail resellers and potential impact on finance stability as well as new ways of central banks functioning. And finally, another question, if risks to cyber-security and data protection are well understood, managed and reduced.https://vest.rea.ru/jour/article/view/567финансовые технологиирегулирующие технологиифинансовое регулированиерегулятивные требованиякомплаенс |
| spellingShingle | D. I. Philippov Innovative regulating technologies: revision of finance supervision Вестник Российского экономического университета имени Г. В. Плеханова финансовые технологии регулирующие технологии финансовое регулирование регулятивные требования комплаенс |
| title | Innovative regulating technologies: revision of finance supervision |
| title_full | Innovative regulating technologies: revision of finance supervision |
| title_fullStr | Innovative regulating technologies: revision of finance supervision |
| title_full_unstemmed | Innovative regulating technologies: revision of finance supervision |
| title_short | Innovative regulating technologies: revision of finance supervision |
| title_sort | innovative regulating technologies revision of finance supervision |
| topic | финансовые технологии регулирующие технологии финансовое регулирование регулятивные требования комплаенс |
| url | https://vest.rea.ru/jour/article/view/567 |
| work_keys_str_mv | AT diphilippov innovativeregulatingtechnologiesrevisionoffinancesupervision |