FCMC will host a workshop on FinTech

05.02.2020
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On 6 and 7 February, the Financial and Capital Market Commission (FCMC) will host a practical training workshop “SupTech II Riga”, in which representatives of Kaunas University of Technology, Kęstutis Lukšys, Audrius Kabašinskas and Kristina Šutienė, will instruct representatives of the Latvian financial sector on the issues related to FinTech monitoring, business modelling and structuring.

In this workshop, participants will learn more about financial market risks associated with the artificial intelligence, machine learning and other algorithms, with a view to promoting the sustainability of innovative solutions to the financial market. The purpose of training is to create common risk management solutions across the European Union (EU) countries that would enhance compliance of FinTech companies (regulatory technology, RegTech) and, at the same time, increase the efficiency of supervisory activities (SupTech). In implementation of the project “FinTech-ho-2020”, social network models are developed to be used in applications for artificial intelligence and machine learning to improve their expected performance and reduce market portfolio risks for users.

The workshop is the activity under the project ”FinTech-ho-2020″ within the EU research and innovation program “Horizon 2020″, involving cooperation of 25 partners from the EU countries and Switzerland. The ”FinTech-ho-2020″ project aims to encourage European financial market regulators to speed up FinTech’s development to make the EU a financial technology leader, while being able to properly assess new FinTech challenges and improve competitiveness of European FinTech sector, creating a common approach and regulatory framework across all countries. Such practical training workshop will take place in each EU country, as well as Switzerland, as the project programme is built jointly by 25 university and FinTech partners that are established experts in FinTech risk management. The project partners are going to share knowledge with supervisory authorities, FinTech associations and hubs.

For the FCMC, Latvian partner of the project, one of the strategic directions is FinTech support, as well as promoting innovation of financial system. In cooperation with other public authorities, the FCMC aims to create the FinTech-friendly environment, which would promote innovative financial services in Latvia and attract new companies to provide the new services. More information on the FCMC activities in the FinTech field please find: webpage.

Further information:
FCMC Communications Division
Phone: + 371 67774807
E-mail: kristine.tjarve@fktk.lv

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