Regtech, Suptech and Beyond: Innovation in Financial Services
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Suptech: A new era of supervisory philosophy
Rūta Merkevičiūtė
Foreword
Preface
Preface
Introduction: Suptech/regtech defined: Payments, sandboxes and beyond
The uncertain prudential treatment of cryptoassets
US regulatory certainty versus uncertainty for crypto and blockchain
Bermuda: Suptech and regtech supporting the risk-based approach
Suptech: A new era of supervisory philosophy
Cloud computing in the financial sector: A global perspective
DeFi protocol risks: The paradox of cryptofinance
IT transformation in the Prudential Authority of South Africa: A case study
Making the vision a reality: Perspectives from the Monetary Authority of Singapore
Lessons from Hong Kong through the lens of the HKMA
Technological change: Is it different this time?
The ECB’s suptech innovation house: Paving the way for digital transformation of banking supervision
China’s financing opening up and regulatory convergence with the world
Disclosures and market discipline: The promise of regtech
Regtech and new derivatives developments
Fintech and regtech: Leading the evolution and regulation of alternative investments
The role of artificial intelligence and big data in investment management
The promise and challenges of machine learning in finance
Data privacy and alternative data
Digital ID and financial inclusion
Strategic technology: Regulation and innovation of CBDCs
Regulatory sandboxes: Innovation and financial inclusion
Technology and sandbox development innovation in a transitional market: A case study
Developing the regulatory ecosystem: The evolution of stablecoin
Central bank digital currency, regtech and suptech
Digital dollar: Cryptocurrency for everyday commerce
CFTC regtech implications for virtual currency trading
Fintech, regtech, suptech and central bank decision making
Supervisory technology (suptech), defined as the use of innovative technology by supervisory and regulatory authorities, is developing rapidly. Suptech is designed to bolster supervisory capabilities in the digital era. Around the world, financial sector supervisors are experiencing a profound shift to data-driven supervision enabled by the next wave of technology and data solutions. In implementing suptech, supervisory authorities are often driven by two different motivations: (i) increasing operational efficiency; and (ii) improving hypothesis-driven supervision. The former often entails helping supervisors test and prove hypotheses using new sources of assessments or data by replacing elements of the supervisory decision framework with data and algorithms, resulting in significant efficiency gains, while the latter entails assisting supervisors in testing and proving hypotheses using new sources of analyses or data.
The expansion of digital activity prompted by the Covid-19 pandemic has re-emphasised the value of suptech for supervisory authorities. The direct and automated collection of granular regulatory data from supervised institutions is critical to replacing on-site
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