FCA pioneers digitising regulatory reporting using DLT and NLP.

The article focuses on the plan of the British Financial Conduct Authority (FCA) to use distributed ledger technology (DLT) and natural language processing (NLP) to automate regulatory reporting at scale. The results of the pilot programme Digital Regulatory Reporting that aims to understand the feasibility of DLT and NLP were published by the FCA in March 2019. It describes the regulatory reporting process for banks and regulators. The benefits of DLT and NLP are explained.