Abstract
In recent years, technology and finance have been deeply integrated. This has improved the resource allocation efficiency in China's financial industry, expanded the service boundary of financial services, and promoted the innovation and diversified development of financial products. At the same time, as financial businesses and products have become more intertwined, financial risks have become more hidden, complex, and contagious. Further violations of laws and regulations occur frequently and financial industry supervisors are facing more severe challenges at the same time.
As securities financial institutions undergo digital transformation, the operational model of the key business lines has increasingly become online, real-time and smarter. In response to potential financial risks, securities regulators have continuously released updated laws and regulations to strengthen industry supervision. In this context, financial institutions are facing more stringent regulatory requirements, and rising compliance costs. Traditional compliance methods have been unable to meet current compliance needs.
Compliance technology can greatly improve compliance efficiency and reduce compliance cost by applying new technology and science-based methods to traditional compliance operations. This article introduces the history of compliance technology and discusses its future development trends with application cases in different fields.
