This Regtech Knowledge Hub acts as a central repository of Regtech-related content and knowledge sharing within the Regtech ecosystem. The Hub hosts Regtech publications, use cases, news, and other important information from the HKMA as well as other participants in the Regtech community.
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Regulatory technology (Regtech), a subset of fintech, is the use of technologies to enhance the efficiency and/or effectiveness of risk management and regulatory compliance. Specifically, 26 specific Regtech application areas have been identified (Figure 1). The adoption of Regtech presents opportunities to unlock significant benefits for banks, regulators, and the wider economy.
Recognising the growing importance of Regtech, the HKMA launched a series of initiatives under the Banking Made Easy initiative in 2018 to facilitate Regtech development in Hong Kong. Since then, notable progress has been made due to the collaborative efforts of the banking industry, the technology community and other stakeholders. To further promote wider use of Regtech, the HKMA developed a two-year roadmap to promote Regtech adoption in the Hong Kong banking sector, as laid out in a White Paper entitled "Transforming Risk Management and Compliance: Harnessing the Power of Regtech" in November 2020. This Regtech Knowledge Hub is one of the initiatives in the roadmap.
We welcome content (research reports, use cases, and events, etc.) submissions from the Regtech community. If you would like to contribute to the Regtech Knowledge Hub, please refer to the notes regarding content submission and Personal Information Collection Statement.