FCA: Technology is both a risk and an opportunity

“When used correctly and responsibly, data and technology can offer faster, more efficient, and more secure services to consumers that empower them to make appropriate choices and protect their personal data.”

She concluded that her role is about equipping the FCA with tools that encourage responsible innovation, and also enable the regulators to understand and respond to the risks as they arise.

In February, FCA director of digital and intelligence Ian Phoenix said data will be the ‘blood flow’ to the organisation and will help staff hone in on their expertise, as part of its focus to become a data-led regulator.

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