Powering the paradigm shift in financial supervision: The Cambridge SupTech Lab Innovation Leadership Programme
This new era of data abundance and mass adoption of digitally native financial products has intensified existing risks and introduced new ones, widening the gap between financial authorities’ duty of oversight and their ability to fulfil their mandate. While supervisors have been trying to catch up with the market for a long time, the increasingly fast pace with which innovative technologies are being implemented and used in the financial sector highlighted just how insufficient the supervisory tools and processes were.
Shaping the future of financial supervision
The journey from the RegTech for Regulators Accelerator (R²A) to the Cambridge SupTech Lab
Five years ago, I was in Manila to conduct the first suptech diagnostic for the newly launched RegTech for Regulators Accelerator (R²A). It was a Monday afternoon, and I was sitting in Pia Roman’s office at the headquarters of the Central Bank of the Philippines (BSP). Pia – who is currently the Director of the Office of the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA) – was leading the BSP market conduct unit.
