Publikationstyp: Beitrag in wissenschaftlicher Zeitschrift
Art der Begutachtung: Peer review (Publikation)
Titel: An innovative RegTech approach to financial risk monitoring and supervisory reporting
Autor/-in: Kavassalis, Petros
Stieber, Harald
Breymann, Wolfgang
Saxton, Keith
Gross, Francis Joseph
DOI: 10.1108/JRF-07-2017-0111
Erschienen in: Journal of Risk Finance
Band(Heft): 19
Heft: 1
Seite(n): 39
Seiten bis: 55
Erscheinungsdatum: 2018
Verlag / Hrsg. Institution: Emerald
ISSN: 1526-5943
2331-2947
Sprache: Englisch
Schlagwörter: Smart contracts; Algorithmic standards; Document engineering; RegTech
Fachgebiet (DDC): 005: Computerprogrammierung, Programme und Daten
Zusammenfassung: Purpose: The purpose of this study is to propose a bearer service, which generates and maintains a “digital doppelgänger” for every financial contract in the form of a dynamic transaction document that is a standardised “data facility” automatically making important contract data from the transaction counterparties available to relevant authorities mandated by law to request and process such data. This would be achieved by sharing certain elements of the dynamic transaction document on a bearer service, based on a federation of distribution ledgers; such a quasi-simultaneous sharing of risk data becomes possible because the dynamic transaction document maintain a record of state in semi-real time, and this state can be verified by anybody with access to the distribution ledgers, also in semi-real time. Design/methodology/approach: In this paper, the authors propose a novel, regular technology(RegTech) cum automated legal text approach for financial transaction as well as financial risk reporting that is based on cutting-edge distributed computing and decentralised data management technologies such as distributed ledger, distributed storage, algorithmic financial contract standards, automated legal text and document engineering methods and techniques. This approach is equally inspired by the concept of the “bearer service” and its capacity to span over existing and future technological systems and substrates. Findings: The result is a transformation of supervisors’capacity to monitor risk in thefinancial systembased on data which preserve informational content offinancial instruments at the most granular level, incombination with a mathematically robust time stamping approach using blockchain technology. Practical implications: The RegTech approach has the potential to contain operational risk linked toinadequate handling of risk data and to rein in compliance cost of supervisory reporting.
URI: https://digitalcollection.zhaw.ch/handle/11475/15742
Volltext Version: Publizierte Version
Lizenz (gemäss Verlagsvertrag): Lizenz gemäss Verlagsvertrag
Departement: School of Engineering
Organisationseinheit: Institut für Datenanalyse und Prozessdesign (IDP)
Enthalten in den Sammlungen:Publikationen School of Engineering

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