Download Whitepaper

October 2018

The next few years will shape the future of financial technology. This makes conducive and forward-thinking regulation one of the most significant catalysts for unlocking the full benefits of emerging technologies for corporates and financial institutions.

Certainly, new technology solutions relating to Open APIs, cloud, blockchain and artificial intelligence – and their uptake by the banking industry – are already having a transformative effect, driving increasing volumes of digital data, and new market players, business models and evolving client expectations.

“Banks need to place these innovations not just at the heart of their technology strategies, but at the heart of their business strategies,” says Thomas Nielsen, Chief Digital Officer, Global Transaction Banking, Deutsche Bank, in the foreword to the white paper, Regulation driving banking transformation. “This requires cultural change, bank-wide adoption of new technologies and IT infrastructures, and defined rules for how data is governed and made secure – especially across borders. And all of those strategies must be underpinned by a “secure and compliant” by design approach.”

“Getting this right is something that can only be done through collaboration with regulators and a wide range of industry groups,” add Nielsen.

Given the ability of these technologies to allow more effective collection, storage and analysis of data, cybersecurity and data protection have been placed firmly under the regulatory spotlight to date. At the same time, regulators understand that barriers to the implementation of these new technologies can hinder banking innovation, competition and the development of new products and better pricing for banking clients. As such, many regulators have thrown their weight behind supporting innovation, implementing a multitude of fintech and innovation initiatives.

Contributors to Deutsche Bank’s white paper – leading experts across the banking, technology and legal industries – applaud regulatory efforts to balance innovation and risk management. Yet their transformative impact will only be realised with further global regulatory alignment and acceptance of the “new realities” created by emerging technologies.

The paper therefore provides a high level overview of the regulations applicable with respect to banks’ – and their clients’ – use of Open APIs, cloud, blockchain and artificial intelligence, and assess areas where regulatory and market change could help drive uptake of these technologies by the financial industry.

You might be interested in

This website uses cookies in order to improve user experience. If you close this box or continue browsing, we will assume you agree with this. For more information about the cookies we use or to find out how you can disable cookies, click here.