Regtech, Suptech and Beyond: Innovation in Financial Services
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Central bank digital currency, regtech and suptech
John Ho Hee Jung
Foreword
Preface
Preface
Introduction: Suptech/regtech defined: Payments, sandboxes and beyond
The uncertain prudential treatment of cryptoassets
US regulatory certainty versus uncertainty for crypto and blockchain
Bermuda: Suptech and regtech supporting the risk-based approach
Suptech: A new era of supervisory philosophy
Cloud computing in the financial sector: A global perspective
DeFi protocol risks: The paradox of cryptofinance
IT transformation in the Prudential Authority of South Africa: A case study
Making the vision a reality: Perspectives from the Monetary Authority of Singapore
Lessons from Hong Kong through the lens of the HKMA
Technological change: Is it different this time?
The ECB’s suptech innovation house: Paving the way for digital transformation of banking supervision
China’s financing opening up and regulatory convergence with the world
Disclosures and market discipline: The promise of regtech
Regtech and new derivatives developments
Fintech and regtech: Leading the evolution and regulation of alternative investments
The role of artificial intelligence and big data in investment management
The promise and challenges of machine learning in finance
Data privacy and alternative data
Digital ID and financial inclusion
Strategic technology: Regulation and innovation of CBDCs
Regulatory sandboxes: Innovation and financial inclusion
Technology and sandbox development innovation in a transitional market: A case study
Developing the regulatory ecosystem: The evolution of stablecoin
Central bank digital currency, regtech and suptech
Digital dollar: Cryptocurrency for everyday commerce
CFTC regtech implications for virtual currency trading
Fintech, regtech, suptech and central bank decision making
Rapid advances in financial technology are reshaping finance, driving an evolution towards a cashless society and spurring new digital forms of money. The rise of digitalisation, including central bank digital currency (CBDC) and related payment systems enhancements, has aided the move to new forms of regulatory technology (regtech) and supervisory technology (suptech).
Digital payments volumes have soared since the onset of the Covid-19 pandemic, accelerating the trend towards digital payments. This was underscored in a keynote speech by Benoît Coueré, head of the Bank for International Settlements Innovation Hub (BISIH), in August 2020 where he noted that indeed, “We are in the middle of a revolution in payments” (Coueré, 2020).
Given the rise of the digital payments, it is increasingly important that we look to develop resilient and accessible central bank-operated payment infrastructures that can withstand a large range of shocks, including pandemics and cyber attacks (Coueré, 2020). This is especially important given that an expanded use of digital payments could fuel an increase in digital lending as companies accumulate consumer data and enhance credit analytics.
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