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Disruptive Technologies And Digital Transformation Of The Financial Services Industry In Singapore: Regulatory Framework And Challenges Ahead, Aurelio Gurrea-Martinez
Disruptive Technologies And Digital Transformation Of The Financial Services Industry In Singapore: Regulatory Framework And Challenges Ahead, Aurelio Gurrea-Martinez
Research Collection Yong Pung How School Of Law
This paper seeks to provide a general overview of the impact of new technologies in the financial services industry in Singapore. For that purpose, it starts by emphasizing that technology has always played an important role in the financial industry. However, new disruptive technologies, as well as the increasing use of data in the financial services industry, have created new challenges and opportunities for the financial sector. While Singapore has managed to address these challenges by adopting one of the quickest and most innovative and comprehensive responses probably observed internationally, financial markets –and particularly the fintech industry– are constantly evolving. …
Towards A Data-Driven Financial System: The Impact Of Covid-19, Nydia Remolina
Towards A Data-Driven Financial System: The Impact Of Covid-19, Nydia Remolina
Centre for AI & Data Governance
The COVID-19 outbreak has a growing impact on the global economy and the financial sector, which plays a critical role in mitigating the unprecedented macroeconomic and financial shock caused by the pandemic. Given the unprecedented nature of the current crisis, financial regulators and supervisors, central banks, along with governments and legislatures face challenges to maintain financial stability, preserve the well-functioning core markets, and ensure the flow of credit to the real economy. Even though the COVID-19 has slowed down our daily lives and stopped the operation of many industries, it did not have the same effect in the data-driven finance …
The Promises And Perils Of Insurtech, Lin Lin, Christopher C. H. Chen
The Promises And Perils Of Insurtech, Lin Lin, Christopher C. H. Chen
Research Collection Yong Pung How School Of Law
The insurance sector, in riding the wave of the FinTech phenomenon, has been rapidly expanding, with a slew of firms having emerged to provide so-called “InsurTech” services. These services incorporate concepts such as blockchain, artificial intelligence, digitalisation and the sharing economy to various aspects of the insurance industry. This profusion of technology brings with it the promise of various benefits including increasing efficiency and lowering costs for not only insurers and intermediaries, but also businesses or consumers as end-users of insurance. However, the development of InsurTech comes with corresponding risks and regulatory concerns not currently accounted for by the traditional …
Global Challenges And Regulatory Strategies To Fintech, Aurelio Gurrea-Martinez, Nydia Remolina
Global Challenges And Regulatory Strategies To Fintech, Aurelio Gurrea-Martinez, Nydia Remolina
Centre for AI & Data Governance
The rise of new technologies has changed the operation, regulation and supervision of financial markets, bringing new challenges and opportunities for consumers, regulators, and financial institutions. This Article seeks to explore the most common regulatory strategies used by financial regulators around the world to address the challenges associated with the rise of fintech. These strategies include the imposition of bans, regulatory passivity, adoption of new legislation, permission on a case by case basis, and more interactive approaches such as innovation offices, accelerators and sandboxes. This Article argues that the adoption and desirability of each regulatory approach will depend on a …
Open Banking: Regulatory Challenges For A New Form Of Financial Intermediation In A Data-Driven World, Nydia Remolina
Open Banking: Regulatory Challenges For A New Form Of Financial Intermediation In A Data-Driven World, Nydia Remolina
Centre for AI & Data Governance
Data has taken immense importance in the last years. Consider the amount of data that is being collected worldwide every day, industries are reshaping their activities into a data-driven business. The digital transformation of all industries, portent of the fourth industrial revolution, is creating a new kind of economy based on the datafication of almost any aspect of human social, political and economic activity as a result of the information generated by the numerous daily routines of digitally connected individuals and technology. The financial services industry is part of this trend. Embracing the digital revolution and creating the right foundations …
The Law And Finance Of Initial Coin Offerings, Aurelio Gurrea-Martinez, Nydia Remolina Leon
The Law And Finance Of Initial Coin Offerings, Aurelio Gurrea-Martinez, Nydia Remolina Leon
Research Collection Yong Pung How School Of Law
The rise of new technologies is changing the way companies raise funds. Along with the increase of crowdfunding in recent years, the use of Initial Coin Offerings (ICOs) has emerged more recently as a new form to raise capital. Companies in the United States raised more than $4 billion in 2017 and over $6.3 billion were raised through ICOs in the first three months of 2018. In a typical ICO, a company receives cryptocurrencies in exchange for certain rights embodied in “tokens”, whose nature, treatment and implications are generating controversy among securities regulators around the world.