According to a recent article published by Business Standard, the Reserve Bank (RBI) has called on banking supervisors to familiarize themselves with the latest technological tools in order to enhance their capabilities and effectively address the challenges posed by fast-evolving financial technologies. RBI Deputy Governor Mukesh Jain emphasized the need for supervisors to acquire the...
TORONTO, ON, CANADA, March 14, 2023/EINPresswire.com/ - SQL Power, the global leader in financial regulatory and advanced analytics technology is proud to announce the successful rollout of their supervisory platform, the SQL Power Suite, on February 23, 2023, at the Bank of Namibia (BON). BON selected SQL Power’s highly-configurable platform to automate every aspect of...
TORONTO, Feb 2, 2022 - SQL Power, the global leader in financial regulatory and advanced analytics technology is proud to announce that their supervisory platform, the SQL Power Suite, was selected by the Bank of Namibia (BON) as the technology framework to digitally transform the Bank. The SQL Power Suite is the most robust and...
Financial regulation is entering the digital age, converting tools and strategies from analog to digital design. In the next decade, this transformation will reach critical mass and do for regulation what digitization does for everything else—make it better, faster, and cheaper. Financial institutions and their regulators have always been active technology adopters. Both finance and...
Last year, as regulators across the world were grappling with the multiple effects of COVID-19 on their economies, one movement caught the attention of many of them: record-breaking volumes of consumer complaints. This trend, consistent in high-income countries such as the United States, was also observed in low- and middle-income countries such as Colombia. This marked increase...
2019 saw the FCA dishing out the highest level of fines ever, totaling nearly £400m in a twelve-month period. This included hefty penalties relating to anti-money laundering failings. However, in the FCA’s 2019 thematic review the organisation did provide its recommendations for how banks can better their AML processes, stating, “For an effective defense against...
Enhanced supervisory technology (SupTech) with strong governance and skilled human oversight could well have important benefits for financial regulators around the in efforts to increase economic stability in their nations and around the globe, said a report prepared for the G20. “SupTech could improve oversight, surveillance and analytical capabilities, and generate real-time indicators of risk...
LONDON (Reuters) – Risks related to political developments in the U.S. have emerged as the main economic concern for central banks, alongside trade wars and a global slowdown, according to a UBS survey. Further disruptions of major economies by the COVID-19 crisis, including new shutdowns, were expected by a total of 42% of respondents to...