Central Bank of Ireland to form analytical teams to improve ‘data architecture’
Governor Philip Lane encourages regulators to “embrace” technological advances, while stressing the balance between innovation and consumer protection
The Central Bank of Ireland is committing "significant" resources to improving its "data architectures" and establishing quantitative analytical teams for its banking, insurance and markets directorates, governor Philip Lane announced on June 16.
Speaking at the Financial Services Ireland Ibec Annual Lunch, Lane underscored the challenges regulators faced in overseeing financial innovations, emphasising the need for firms to "strike an appropriate balance" between innovation and consumer
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