[South Korea's Choice Financial News News] Big Data, block chains, such as bio-certified Fourth leverage one leg Tech Industrial Technology (RegTech) financial supervision has attracted attention.
Leg Tech is a portmanteau of regulation (Regulation) and technology (Technology). According to the definition of the International Finance Association (IIF) consisting of more than 500 financial institutions in 70 countries worldwide, leg Tech says' Use of new technologies to effectively address the regulatory and compliance requirements. "
Tobacco Financial Supervisory Service announced a leg Tech plans to put the emphasis this year through the work plan 'autonomous security system, strengthening of financial institutions',' build internal control systems. Compliance quaternary industrial technology in the financial environment changes, such as pin-Tech (FinTech), which is what induced to take advantage of consumer protection.
Specifically, there may be mentioned, such as "the development of capital markets unfair trade monitoring system utilizing Big Data 'as an example. According to a source of financial security, regulatory compliance needs of financial leg-tech and future challenges for the 'Reports leg Tech applying machine learning techniques have △ △ △ cloud computing, robotics, bio-certified △ △ block chain.
The leg-tech application fields are also available as data management and risk analysis and transaction monitoring in the forecast, customer identification, internal control, such as the scope has been expanded.
For example, by learning machine learning technology to normal, trading information over characteristics can catch a deal over automatically. Also share information on the possibility of tracing financial transactions used in crimes such as chain blocks and high-risk customers to the cloud conditions and may strengthen customer identification.
About 35 countries, including Korea Financial Supervisory Authority In yet unfamiliar concepts or the United Kingdom, Canada, Ireland has introduced an advantage in the leg Tech coach efficiency levels.
The important issue is understanding between the parties communicate and collaborate instantly activate the leg Tech. Financial security agent Security Department official suggested that "regulation is needed in consultation with the ongoing discussions between financial authorities, financial institutions, development agencies about such regulatory control, data types, and legal analysis for the director in order to be clearly reflected in the technology."
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