Speaking at the regulator’s flagship Regtech conference “Unlocking the Power of Regtech,” Hong Kong Monetary Authority (HKMA) chief Eddie Yue recently set out four key efforts the regulator will be making to help promote regtech adoption.
The first of which is for the HKMA itself to develop a greater understanding of the evolution of Hong Kong’s regtech landscape, and “what’s actually happening on the ground”. Second the HKMA aims to raise awareness among banks of the benefits applications and solutions associated with regtech. Third it is working to encourage the development of new regtech solutions through incentives and competitions. And, lastly, thre regulator hopes to expand the regtech ecosystem by nurturing talent and enhancing interaction within the ecosystem.
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