The Financial Stability Board (FSB) released a report entitled, The Use of Supervisory and Regulatory Technology by Authorities and Regulated Institutions: Market developments and financial stability implications. Within the report are 28 case studies that outline the use of SupTech and RegTech tools, and notes “that technology and innovation are transforming the global financial landscape, presenting opportunities, risks and challenges for regulated institutions and authorities alike.” The report will be provided to the G20 Finance Ministers and Central Bank Governors at their virtual meeting on October 14, 2020.
The report also highlights the possibility to improve financial stability through supervisory and regulatory technology: “For authorities, the use of SupTech could improve oversight, surveillance and analytical capabilities, and generate real time indicators of risk to support forward looking, judgement based, supervision and policymaking. For regulated institutions, the use of RegTech could improve compliance outcomes, enhance risk management capabilities and generate new insights into the business for improved decision-making.”
More information on the FSB report regarding SubTech and RegTech can be found here.