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...
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...
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...
For many years, financial sector supervisors saw with skepticism the adoption of SupTech—essentially the use of technology-enabled solutions to increase the efficiency and effectiveness of supervisory activities. Many asked “why” they should be investing in these technologies, in a common first reaction to any process that will substantially impact the way things are done.Although some...
TORONTO, Oct. 6, 2020 /CNW/ - SQL Power, the global leader in financial regulatory and advanced analytics technology is proud to announce the implementation of their supervisory platform, the SQL Power Suite, on September 22, 2020 at the Trinidad and Tobago Securities and Exchange Commission (TTSEC). According to the TTSEC, the Electronically Advanced Submission interface or EASi platform...
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...
First some definitions: FinTech is the application of digital technology like software and hardware to improve the efficiency, effectiveness, and scope of financial services. These solutions can be applied to traditional financial services and create opportunities for new services and business models for Financial Institutions. SupTech is the application of digital technology like software and hardware to improve the efficiency,...
Technological advancements are inevitable. From the first stone tool, the discovery of the uses of fire, forging metals, farming, the Industrial Revolution to the information age; we have been consistently inventing tools to make our lives easier. Artificial Intelligence is one such tool. The term ‘Artificial Intelligence’ was first coined in 1956 by a Dartmouth...