Financial Regulation for the Digital Age

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...

Technologies for market conduct supervision in a new digital era

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...

Regulators Eyeing Tech To Boost Financial Stability

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...

RegTech: How Technology Can Revolutionize Compliance

Highly regulated industries like the financial services industry have faced ever-increasing regulatory compliance obligations. Technology, such as artificial intelligence (AI), that can be utilized to innovate the manner in which these organizations operate can lead to additional challenges for regulatory compliance, and the regulatory environment can drastically impact innovation in these sectors. Regulatory compliance is...

The Different Flavors of RegTech and SupTech: How Companies and Regulatory Agencies Are Leveraging Technology to Improve Regulatory Compliance and Supervision

When the calendar turned to 2020, my first thought was about how futuristic the year sounded and what kind of interesting things it had in store. At that time, no one could possibly have imagined that some of those interesting things would be face masks, working from home, and wearing the same loungewear so often...