The peak body for the fintech sector in Beijing has just announced the launch of its own specialist regtech committee.
The Beijing Fintech Industry League (北京金融科技产业联盟) has announced the founding of the “Regtech Specialist Committee” (监管科技专业委员) following a meeting of the League’s directors on 29 April 2020.
According to the League the goals of the establishment of the committee include:
- Linking various parties in industry and concentrating industry strengths,
- Establishing healthy detection, analysis and prevention mechanisms for fintech application risks;
- Establishing risk monitoring modules for the operation of fintech innovation management service platforms;
- Raising the fintech innovation management information services level,
- Researching fintech risk assessment systems,
- Resolving problems with risk assessment and advance risk prevention,
- Comprehensively raise the ability to “know risk, analyse risk and control risk.”