Global innovators
invited to find solutions
financial regulatory and
supervisory challenges
The Saudi G20 Presidency and the
Bank for International Settlements
(BIS) Innovation Hub has launched the
G20 TechSprint Initiative to highlight the
potential for new technologies to resolve
regulatory compliance (RegTech) and
supervision (SupTech) challenges.
The BIS Innovation Hub, through its
Singapore Centre, and the Saudi G20
Presidency have published high-priority
RegTech/SupTech operational problems
and invite private firms to develop
innovative technological solutions. The
problem statements identify challenges
in regulatory reporting, analytics,
monitoring and supervision and have
been developed from submissions
received from Financial Stability Board
(FSB) member jurisdictions.
The hackathon-style competition is also
supported by the Monetary Authority of
Singapore (MAS), the
(APIX) and the RegTec
Accelerator (R2A).
“TechSprint encapsula
core principles of the
Hub, which is to devel
in the technology spa
the functioning of the
system,” said Benoît C
BIS Innovation Hub.
Commenting on the la
Saudi G20 presidency
the Saudi Arabian Mo
Ahmed Alkholifey, said
BIS Innovation Hub, w
fintech community to
effective solutions to p
regulatory and superv
including by supportin
and supervisory respo
COVID-19 pandemic.
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