Regulators Harnessing Innovation To Improve Regulation

In 1961 President Kennedy set a challenge of landing a man on the moon. Kennedy was aiming for the end of the decade.

Several years later, and following various failures, three astronauts were fired off into space, fingers crossed that they would return.

It’s said that the computer enabling us to land on the moon was as powerful as a 1960s calculator.

The benefits of technology and innovation

Whilst technology and innovation pose risks. There are also benefits to be reaped.

This is the message from the FCA and other global supervisory bodies that share this view.

We see various financial hubs seeking to enhance their global position by embracing technology.

Several decades have passed, and technology has advanced and continues to do so at such a speed that it’s hard to keep up to date.

Improved communication is one benefit of these developments, which has resulted in businesses operating globally and sharing huge amounts of information as well as generating copious amounts of data for analysis.

To continue reading this article, click here.

Priscilla Gaudoin, FICA, ACISI

Head of Client Regulation

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