Introduction: Suptech/regtech defined: Payments, sandboxes and beyond

Bhavin Patel

Contents

Foreword

Preface

Preface

Introduction: Suptech/regtech defined: Payments, sandboxes and beyond

1.

The uncertain prudential treatment of cryptoassets

2.

US regulatory certainty versus uncertainty for crypto and blockchain

3.

Bermuda: Suptech and regtech supporting the risk-based approach

4.

Suptech: A new era of supervisory philosophy

5.

Cloud computing in the financial sector: A global perspective

6.

DeFi protocol risks: The paradox of cryptofinance

7.

IT transformation in the Prudential Authority of South Africa: A case study

8.

Making the vision a reality: Perspectives from the Monetary Authority of Singapore

9.

Lessons from Hong Kong through the lens of the HKMA

10.

Technological change: Is it different this time?

11.

The ECB’s suptech innovation house: Paving the way for digital transformation of banking supervision

12.

China’s financing opening up and regulatory convergence with the world

13.

Disclosures and market discipline: The promise of regtech

14.

Regtech and new derivatives developments

15.

Fintech and regtech: Leading the evolution and regulation of alternative investments

16.

The role of artificial intelligence and big data in investment management

17.

The promise and challenges of machine learning in finance

18.

Data privacy and alternative data

19.

Digital ID and financial inclusion

20.

Strategic technology: Regulation and innovation of CBDCs

21.

Regulatory sandboxes: Innovation and financial inclusion

22.

Technology and sandbox development innovation in a transitional market: A case study

23.

Developing the regulatory ecosystem: The evolution of stablecoin

24.

Central bank digital currency, regtech and suptech

25.

Digital dollar: Cryptocurrency for everyday commerce

26.

CFTC regtech implications for virtual currency trading

27.

Fintech, regtech, suptech and central bank decision making

The evolution of financial technology (fintech) has significantly accelerated since the great financial crisis. For the traditional banking industry, profitability, competitiveness and the ensuing regulation drove compliance costs to record highs while simultaneously restricting credit. The future of the banking industry depends on its ability to leverage the power of customer insight, advanced analytics and digital technology to provide services that help today’s tech-savvy customers control their finances and better manage their daily lives.

Incumbent financial institutions and banks could risk being disintermediated from customers when banking, payments and other financial services can be provided by third parties, while the unbundling of vertically integrated financial services could allow banks to leverage complementary value-added services from fintechs. Put simply, it is a battle between innovation and distribution, and it remains to be seen whether fintech firms will achieve distribution before banks innovate fully. In general, the activities of small fintech companies span all three of these areas, yet there is also a tendency for new entrants to be more radical and

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