Financial market infrastructure

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Big Data Meets Artificial Intelligence

BaFin consultation sets out challenges and implications for the supervision and regulation of financial services

Federal Financial Supervisory Authority of Germany (BaFin) consultation: i) addresses technological developments of big data analytics and artificial intelligence; ii) elaborates scenarios outlining the potential impact these technologies might have on the financial market and market players; and iii) highlights potential implications for financial supervisory authorities. Consultation aims to initiate discussion on the impact of digitalization on established market and supervisory structures.

Publisher: National Regulators Release date: Jul 2018 Country: Germany

Type: Consultative, discussion and issues paper

Topics: Financial inclusion, Financial market infrastructure, Consumer education and protection, Operational risk, FinTech

Sectors: Banking, Insurance, Pensions, Securities

Deadline for comments: Sep 2018

Innovative Technology in Financial Supervision (Suptech): The Experience of Early Users

FSI guidance for supervisory agencies on developing a strategy to realize the potential benefits of SupTech

Financial Stability Institute guidance outlines the experiences of early users and highlights specific considerations to develop a SupTech strategy for supervisory agencies. Sets out challenges to supervisory agencies when developing or using SupTech applications: i) increased operational risks (cyber risk, data quality, and finding the right talent); ii) computational capacity constraints; iii) management support; and iv) buy-in from supervision units. This paper outlines the experiences of early users and highlights specific considerations to develop a SupTech strategy for supervisory agencies to take advantage of these developments.

Publisher: International Organizations Release date: Jul 2018

Type: Consultative, discussion and issues paper

Topics: Financial inclusion, Financial market infrastructure, Supervisory framework, Supervisory structures, FinTech

Sectors: Banking, Insurance, Pensions, Securities

Building the UK FInancial Sector's Operational Resilience

BoE, PRA and FCA discussion paper on supervisory authorities' view on operational resilience

Bank of England, Prudential Regulation Authority and Financial Conduct Authority discussion paper focuses on the operational resilience of the financial system and the individual firms and financial market infrastructures (FMIs) within it. Paper seeks to commence a dialogue with the financial services industry on improving the operational resilience of firms and FMIs.

Publisher: National Regulators Release date: Jul 2018 Country: United Kingdom

Type: Consultative, discussion and issues paper

Topics: Operational risk, Financial market infrastructure, Cyber risk

Sectors: Banking, Insurance, Securities

Deadline for comments: Oct 2018

SupTech: Leveraging Technology for Better Supervision

TC note explains SupTech and its potential

Toronto Centre note discusses how, by leveraging technology, supervisors can improve the efficiency and effectiveness of their work, with a focus on data collection, data analytics and digitization of processes and working tools. Provides examples of current uses of SupTech and uses that are being tested. Discusses the challenges and risks of embracing SupTech.

Publisher: Toronto Centre Release date: Jun 2018

Type: TC Notes

Peer: Regulatory Sandboxes , FinTech, RegTech and SupTech: What They Mean for FInancial Supervision , FinTech, RegTech and SupTech: What They Mean for Financial Supervision

Topics: Financial inclusion, Financial market infrastructure, Supervisory framework, Supervisory structures, FinTech

Sectors: Banking, Insurance, Pensions, Securities

EBA's FinTech Roadmap

EBA's next steps and indicative milestones for 2018/19 in assessing implications of FinTech

European Banking Authority roadmap on FinTech sets out the EBA's priorities for 2018/19. Priorities are: i) monitoring the regulatory perimeter, including assessing current authorization and licensing approaches to FinTech firms, and analyzing regulatory sandboxes and innovation hubs in order to identify a set of best practices; ii) monitoring emerging trends and analyzing the impact from the use of FinTech; iii) promoting best supervisory practices on assessing cybersecurity and promoting a common cyber threat testing framework; iv) addressing consumer issues arising from FinTech; and v) identifying and assessing money laundering/terrorist financing risk associated with regulating FinTech firms, technology providers and FinTech solutions.

Publisher: Regional Standard-Setting Bodies Release date: Mar 2018

Type: Consultative, discussion and issues paper

Peer: EBA Discussion Paper on Financial Technology (FinTech)

Topics: FinTech, Financial inclusion, Financial market infrastructure

Sectors: Banking

Joint Committee Final Report on Big Data

EBA, EIOPA and ESMA report analyzes impact of big data on consumers and financial firms

European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority report concludes that benefits of big data outweigh potential risks to financial services consumers. Benefits for the financial industry and consumers include: i) more tailored products and services; ii) improved fraud analytics; and iii) enhanced efficiency of organizational internal procedures. Risks include: i) potential for errors; and ii) increasing level of segmentation enabled by big data may potentially influence access and availability of certain financial services or products.

Publisher: Regional Standard-Setting Bodies Release date: Mar 2018

Type: Consultative, discussion and issues paper

Topics: Financial inclusion, Financial market infrastructure, Consumer education and protection, Operational risk

Sectors: Banking, Insurance, Pensions, Securities

Guide to Assessments of FinTech Credit Institution Licence Applications

ECB guide for potential FinTech bank applicants

European Central Bank guideline enhances transparency for potential FinTech bank applicants and increases their understanding of the procedure and criteria applied by the ECB in its assessment of licence applications.

Publisher: Regional Standard-Setting Bodies Release date: Mar 2018

Type: Guideline

Peer: Guidelines to Assessments of Licence Applications

Topics: Financial inclusion, Financial market infrastructure, Corporate governance, Operational risk, Licensing, FinTech

Sectors: Banking

FinTech, RegTech and SupTech: What They Mean for FInancial Supervision

TC webinar discusses issues relating to technology and supervision

Toronto Centre webinar discusses: i) ongoing FinTech revolution that is reshaping the financial services industry; ii) how FinTech, RegTech and SupTech have been developing, and how financial supervision and risk management are, in turn, being transformed; iii) key technologies and their potential uses in RegTech and SupTech; and iv) how key technologies could help improve supervision and allow new supervisory approaches.

Publisher: Toronto Centre Release date: Feb 2018

Type: TC Videos

Peer: SupTech: Leveraging Technology for Better Supervision

Topics: Financial inclusion, Financial market infrastructure, Supervisory framework, Supervisory structures, FinTech

Sectors: Banking, Insurance, Securities

Cross-Border Retail Payments

CPMI report sets out improvements in infrastructure for cross-border retail payments

Committee on Payments and Market Infrastructure report analyzes cross-border retail payments by individuals and businesses and identifies issues and challenges. Draws on a survey of established and innovative providers of cross-border retail payment services around the world. Sets out scope for improvements in existing infrastructures.

Publisher: Global Standard-Setting Bodies Release date: Feb 2018

Type: Consultative, discussion and issues paper

Peer: Fast Payments - Enhancing the Speed and Availability of Retail Payments , Non-Banks in Retail Payments , Innovations in Retail Payments

Topics: Cross-border cooperation, Financial inclusion, Financial market infrastructure, FinTech

Sectors: Banking, Securities

Implications of FinTech Developments for Banks and Bank Supervisors

BCBS report examines impact of FinTech on banking industry and activities of supervisors

Basel Committee on Banking Supervision sound practice report on technology-driven innovation in financial services (FinTech). Provides an overview of the FinTech landscape and the current state of the industry, identification of challenges and implications for banks, and assessment of implications for supervisors and regulatory frameworks. Discusses certain technology developments (big data, distributed ledger technology and cloud computing) and FinTech business models (innovative payment services, lending platforms and neo-banks).

Publisher: Global Standard-Setting Bodies Release date: Feb 2018

Type: Sound Practice

Topics: Financial inclusion, Financial market infrastructure, FinTech

Sectors: Banking

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Resources

382 records

Big Data Meets Artificial Intelligence

Innovative Technology in Financial Supervision (Suptech): The Experience of Early Users

Building the UK FInancial Sector's Operational Resilience

SupTech: Leveraging Technology for Better Supervision

EBA's FinTech Roadmap

Joint Committee Final Report on Big Data

Guide to Assessments of FinTech Credit Institution Licence Applications

FinTech, RegTech and SupTech: What They Mean for FInancial Supervision

Cross-Border Retail Payments

Implications of FinTech Developments for Banks and Bank Supervisors

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