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Identification and Prioritization of RegTech Development Drivers for Financial Development: An Expert-Based Approach
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Said Farahani fard *1   , Mohamad hasan Maleki2 , Maryam Houshidari3 |
1- Professor, Department of Economics, Faculty of Economic and Administrative Sciences, University of Qom, Qom, Iran , s.farahanifard@qom.ac.ir
2- Professor, Department of Management, Faculty of Economic and Administrative Sciences, University of Qom, Qom, Iran
3- PhD Student in Islamic Economics, University of Qom, Qom, Iran |
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Abstract: (6 Views) |
This study aims to develop a conceptual model for the advancement of the financial with a special focus on the role of regulatory technologies (RegTech). In response to the rapid digital transformation in financial services and the growing challenges of regulatory compliance, this research adopts a quantitative, multi-method approach utilizing Fuzzy Delphi and Fuzzy DEMATEL techniques. Initially, 27 key drivers were identified through literature review and expert interviews. Subsequently, using the Fuzzy Delphi method, 10 core factors with defuzzified scores above 0.7 were selected. The causal relationships among these drivers were then analyzed using the Fuzzy DEMATEL method. The findings reveal that drivers such as data-driven decision-making, enhanced information transparency, improved fraud prevention capability, and support for Islamic financial technology have the highest net effects and act as critical enablers of financial sector development. These results underscore that RegTech is not merely a technological tool but a novel governance paradigm that can foster operational efficiency, transparency, and agility in financial systems. Accordingly, smart policy frameworks, data infrastructure development, and structured collaboration among regulators and financial institutions are essential for leveraging RegTech’s full potential in emerging economies such as Iran. |
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| Keywords: RegTech, FinTech, financial industry, financial development, regulatory compliance, Fuzzy DEMATEL, Fuzzy Delphi. |
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Full-Text [PDF 946 kb]
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Article type: Research |
Subject:
Special
Received: 2026/04/30 | Accepted: 2026/08/29
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