Degree

Master of Science in Computer Science

Department

Department of Computer Science

Faculty / School

Faculty of Computer Sciences (FCS)

Date of Submission

2020-06-30

Supervisor

Waqas Mahmood, Visiting Faculty, Department of Computer Science

Document type

MSCS Survey Report

Abstract

FinTech and RegTech has become a common term as a new term in the financial industry which describes novel technologies adopted by financial service institutions. The word encompasses a broad variety of strategies, from cyber protection to delivering financial services. FinTech 's reliable and up-to - date knowledge has a growing need for academics and professionals alike. This research aims at producing a survey of FinTech by gathering and analyzing contemporary accomplishments, by proposing a FinTech system guided by theoretical data. This summarizes and addresses five technological aspects, including protection and privacy, data techniques, hardware and infrastructure, applications and management, and services model.

The principal results of this research forms the basis for creating successful FinTech solutions. Financial institutions (FIs) are remunerated for the management of the financial risks associated with the funding of the projects they coordinate. As a result, they have little interest in sharing risk data produced internally, or, for that matter, in increasing the technical capacity to share these data. However, this lack of interoperable data contributes to the existing degree of inter-content.

Elevated systemic risk rates. Against this context, it is all the more important that supervisors receive the data in an acceptable format and in a timely manner. In this context, the new RegTech approach to financial risk management and supervisory reporting is the first integration of financial data with algorithms The result is a transformation in the data-based monitoring risk capability of supervisors in the financial sector, which preserves information quality of financial instruments at the most granular level combined with a mathematically reliable time stamping approach using block chain technology.

Around the same time, on the side of controlled FIs, the RegTech approach has the ability to reduce operational risk associated with insufficient handling of risk data, and to rein in supervisory reporting enforcement costs.

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