RegTech in public and private sectors: the nexus between data, technology and regulation

Abstract Higher regulatory compliance requirements, fast and continuous changes in regulations high digital dynamics the financial markets are powering RegTech (regulatory technology), defined as technology‐enabled innovation applied to world of regulation, compliance, risk management, reporting supervision. This work builds on a systematic literature review bibliometric analysis RegTech, its influential papers authors, main areas research, past future. The resulting multi-dimensional framework bridges across four dimensions, starting with regulation technology, where one or more regulations, not necessarily ones, addressed support technologies (e.g. artificial intelligence, DLT, blockchain, smart contracts, API). Data play central role, sharing them enables data ecosystems, additional value can be attained by each market participant, while automation machine-readable empower regulators pull directly from banks’ systems combine these obtained customers other external sources. Several applications emerge, both for regulated entities, covering matters monitoring, operations, well authorities, which leverage (SupTech) solutions make policies, undertake their authorising, supervising enforcement monitoring controlling purposes, even issue fines automatically. As consequence, stakeholders reap series benefits, such higher efficiency effectiveness, accuracy, transparency lower costs but also risks, cyber risk, algorithmic biases, dehumanization.