The UK's Financial Conduct Authority says it will embrace technology as a key tool in its five-year strategy to "support growth and improve lives".
Setting out its strategy for the next half decade, the watchdog has identified four priorities: be a smarter regulator; support economic growth; help Brits navigate their financial lives; and fight financial crime.
To be smarter, the FCA says it will invest in its technology, people, and systems, building up its digital capability to allow it to better handle the 100,000 cases it assesses every year.
It also plans to digitise and simplify the authorisation processes for companies so it is easier and quicker to apply.
Meanwhile, as it integrates the Payment Systems Regulator and many of its functions, the watchdog will build on Open Banking and launch Open Finance, promising more seamless data-sharing to unlock product innovation and deliver lower costs, more choice and better information for consumers.
Nikhil Rathi, chief executive, FCA, says: "Our 4 priorities reinforce one another and we look forward to collaborating with our partners as we become a smarter regulator, support growth, help consumers and fight crime.
"We are ambitious for the future and committed to enabling a fair and thriving financial services market for the good of consumers and the economy."