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

Samira Kria Chaker

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 combination and alignment of finance and technology (fintech) naturally finds its place in emerging markets, where the supply of traditional banking or insurance services is generally low. Almost two billion people around the world still do not have a bank account, most of them living in emerging countries (Yeung and Pángaro, 2020). The lack of financial market and related infrastructure and the rise of mobile phones are enabling these markets to turn to alternative financial solutions. Start-ups are using technology to rethink financial and banking services, expanding the range of products and services while making them more accessible and less expensive. Progress in information and communication technologies (ICTs) are helping to expand financial inclusion. The use of regulatory technology (regtech) is facilitating this trend and providing new tools for regulatory oversight to drive change.

In many countries, consumers have moved directly to online solutions without having access to traditional banking services. Financial inclusion has become even more important during the Coronavirus pandemic, which has demonstrated the paramount importance of digital transformation to

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