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RegTech
Regulatory technology, Abrv: RegTech, is the use of information technology to enhance regulatory and compliance processes. RegTech is most usefully applied to heavily regulated industries and activities such as financial services, gaming, healthcare, pharmaceutical, energy and aviation. RegTech puts a particular emphasis on regulatory monitoring, reporting and compliance and aims to enhance transparency as well as consistency and to standardize regulatory processes, to remove ambiguity from regulations and provide higher quality outcomes at a lower cost. RegTech to date has been focused on the digitization of manual reporting and compliance processes in the financial services industry, for example in the context of know your customer requirements, and is often mis-attributed as a subset of FinTech. Its application to wider industries, such as energy, confirm that RegTech is a subset of GovTech. RegTech offers significant cost savings to industry and regulators and a 2016 academ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information Technology
Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of data . and information. IT forms part of information and communications technology (ICT). An information technology system (IT system) is generally an information system, a communications system, or, more specifically speaking, a computer system — including all hardware, software, and peripheral equipment — operated by a limited group of IT users. Although humans have been storing, retrieving, manipulating, and communicating information since the earliest writing systems were developed, the term ''information technology'' in its modern sense first appeared in a 1958 article published in the ''Harvard Business Review''; authors Harold J. Leavitt and Thomas L. Whisler commented that "the new technology does not yet have a single established name. We shall call it information technology (IT)." Their definition consists of three categories: techniques for pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulatory Processes
Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context. For example: * in biology, gene regulation and metabolic regulation allow living organisms to adapt to their environment and maintain homeostasis; * in government, typically regulation means stipulations of the delegated legislation which is drafted by subject-matter experts to enforce primary legislation; * in business, industry self-regulation occurs through self-regulatory organizations and trade associations which allow industries to set and enforce rules with less government involvement; and, * in psychology, self-regulation theory is the study of how individuals regulate their thoughts and behaviors to reach goals. Social Regulation in the social, political, psychological, and economic domains can take many forms: legal restrictions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Digitization
DigitizationTech Target. (2011, April). Definition: digitization. ''WhatIs.com''. Retrieved December 15, 2021, from https://whatis.techtarget.com/definition/digitization is the process of converting information into a Digital data, digital (i.e. computer-readable) format.Collins Dictionary. (n.d.). Definition of 'digitize'. Retrieved December 15, 2021, from https://www.collinsdictionary.com/dictionary/english/digitize The result is the representation of an object, image, sound, document, or Signal (electrical engineering), signal (usually an analog signal) obtained by generating a series of numbers that describe a discrete set of points or Sample (signal), samples. The result is called ''Digital data, digital Group representation, representation'' or, more specifically, a ''digital image'', for the object, and ''digital form'', for the signal. In modern practice, the digitized data is in the form of Binary number, binary numbers, which facilitates processing by Digital computer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Know Your Customer
Know Your Customer (KYC) guidelines in financial services require that professionals make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship. The procedures fit within the broader scope of a bank's anti-money laundering (AML) policy. KYC processes are also employed by companies of all sizes for the purpose of ensuring their proposed customers, agents, consultants, or distributors are anti-bribery compliant, and are actually who they claim to be. Banks, insurers, export creditors, and other financial institutions are increasingly demanding that customers provide detailed due diligence information. Initially, these regulations were imposed only on the financial institutions but now the non-financial industry, fintech, virtual assets dealers, and even non-profit organizations are liable to oblige. Laws by country *Australia: The Australian Transaction Reports and Analysis Centre (AUSTRAC), established in 1989, monitors financia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Technology
Fintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, blockchain, cloud computing, and big data are regarded as the "ABCD" (four key areas) of fintech. The use of smartphones for mobile banking, investing, borrowing services, and cryptocurrency are examples of technologies designed to make financial services more accessible to the general public. Fintech companies consist of both startups and established financial institutions and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies. A subset of fintech companies that focus on the insurance industry are collectively known as insurtech or insuretech companies. Key areas Academics Artificial intelligence (AI), blockchain, cloud computing, and big data are considered the four key areas of FinTech. Artificial intelli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Digital Identity
A digital identity is information used by computer systems to represent an external agent – a person, organization, application, or device. Digital identities allow access to services provided with computers to be automated and make it possible for computers to mediate relationships. The use of digital identities is so widespread that many discussions refer to the ''entire'' collection of information generated by a person's online activity as a "digital identity". This includes usernames, passwords, Search engine, search history, birthdate, social security number, and purchase history, especially where that information is publicly available and not anonymized and so can be used by others to discover that person's civil identity. In this broader sense, a digital identity is a facet of a person's social identity and is also referred to as ''online identity''. An individual's digital identity is often linked to their civil or national identity and many countries have instituted n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Conduct Authority
The Financial Conduct Authority (FCA) is a financial regulation, financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom. It focuses on the regulation of conduct by both retail and wholesale financial services firms.Archived here. Like its predecessor the Financial Services Authority, FSA, the FCA is structured as a company limited by guarantee. The FCA works alongside the Prudential Regulation Authority (United Kingdom), Prudential Regulation Authority and the Financial Policy Committee to set regulatory requirements f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Chief Scientific Adviser (United Kingdom)
The UK Government Chief Scientific Adviser (GCSA) is the personal adviser on science and technology-related activities and policies to the Prime Minister and the Cabinet; and head of the Government Office for Science. The Chief Scientific Adviser has a significant public role as the government's most visible scientific expert. They are also head of the Science and Engineering Profession in government. Most individual government departments have their own departmental Chief Scientific Adviser (CSA). The GCSA has no formal management responsibility for departmental CSAs and is free to provide advice to all departments, including those that have their own chief scientific adviser. The adviser also usually serves as chair of the UK's Scientific Advisory Group for Emergencies (SAGE). List of Government Chief Scientific Advisers * Sir Solly Zuckerman, 1964–1971 * Sir Alan Cottrell, 1971–1974 * Robert Press, 1974–1976 * Sir John Ashworth, 1977–1981 * Sir Robin Nicholson, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andy Haldane
Andrew G. Haldane, (; born 18 August 1967) is a British economist who worked at the Bank of England between 1989 and 2021 as the chief economist and executive director of monetary analysis and statistics. He resigned from the Bank of England in June 2021 to become chief executive of the Royal Society for Arts. In 2014 he was named by ''Time'' magazine as amongst the world's 100 most influential people. Education Born in Sunderland, Haldane attended Guiseley School in north Leeds. He did not study maths at A-level, teaching himself; he said that he was "very far from being natural at maths" and struggles teaching his children the subject. He received a BA in economics from the University of Sheffield in 1988 and an MA in economics from the University of Warwick in 1989. Career Haldane joined the Bank of England in 1989. He worked in monetary analysis, on various issues regarding monetary policy strategy, inflation targeting, and central bank independence. He had a secondm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Birmingham University
, mottoeng = Through efforts to heights , established = 1825 – Birmingham School of Medicine and Surgery1836 – Birmingham Royal School of Medicine and Surgery1843 – Queen's College1875 – Mason Science College1898 – Mason University College1900 – gained university status by royal charter , city = Birmingham , province = West Midlands , country = England, UK , coor = , campus = Urban, suburban , academic_staff = 5,495 (2020) , administrative_staff = , head_label = Visitor , head = The Rt Hon Penny Mordaunt MP , chancellor = Lord Bilimoria , vice_chancellor = Adam Tickell , type = Public , endowment = £134.5 million (2021) , budget = £774.1 million (2020–21) , students = () , undergrad = () , postgrad = () , affiliations = Universitas 21 Universities UK EUA ACUSutton 13 Russell Group , free_label = , free = , colours = The University , website = , logo = The University of Birmingham (informally Birmingham Universit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
