A panel at AM Tech Day took stock of the internal use of new technologies by
regulators. The goal: better supervision.
Deconstruct clichés. If regulators are still far from using new technologies as much as
financial institutions, thoughts are emerging. In 2017, the Autorité des marchés financiers
developed a blockchain internally, but "more in a logic of exploration, to become familiar with the
technologies", says Domitille Dessertine, director of the fintech, innovation and competitiveness division at
the AMF, during the AM Tech Day at L'Agefi on October 8.
If a blockchain expert has been examining smart contracts in the fintech cluster for a year, the authority is still
far from having crossed the threshold of being connected to the blockchains of actors. Since the crisis, new
regulations have emerged to best collect data. “We had to launch initiatives
around the management of this data, in order to extract the most relevant information
possible" admits Domitille Dessertine who wants the AMF to become "a data-oriented regulator, which
uses the data to carry out its missions”. Same story on the side of the European regulator,
the Esma. “Seeing how we can use this data in the most effective way possible is part of our
priorities and technology has a role to play", according to Anne Choné, senior officer - financial innovation at Esma.
By using in-house technology, the European Markets Authority also hopes to create a
genuine European financial services market. “Esma has a convergence role between regulators
national supervisory bodies. Here too, we are looking at the technologies that would make it possible to identify more
any discrepancies between regulators easily,” says Anne Choné?.
For Anthony Charrié, specialist in financial regulation at Oliver Wyman, regulators “could
have an even more effective and dynamic supervision by making greater use of technological tools”.
According to him, "the role of supranational institutions such as Gafi, EBA and Esma is central to encouraging
these good supervisory practices.”
For its part, the ACPR relies on "intrapreneurship" to innovate internally. Within the Fintech-Innovation division,
three "intrapreneurs" have just been selected and will be supported by the Swave incubator for a
year. "Intrapreneurship is taking the employee out of his or her working environment and making him or her work like a
start-upper with the means and autonomy of a start-upper, but for an internal project", underlines Arthur
Moraglia, project manager in the Fintech-Innovation division at the ACPR.