Digital tools for supervisor ‘superpowers’
Cambridge SupTech Lab’s six inaugural tools, and how they serve as supervisor ‘superpowers’ in fostering innovation and the creation of suptech applications
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.
Taking market conduct supervision to the next level
My journey as a financial supervisor and my intention to expand my impact with the Cambridge SupTech Lab
For the last nine years, I have been a market conduct supervisor in the Peruvian financial authority, the Superintendence of Banking, Insurance, and Private Pension Funds. My mission has been to protect financial consumers from unfair practices and to ensure that financial service providers conduct their business in the best interest of consumers.
Human-centric design and the future of financial supervision
Focusing on pains and gains to build capacity, co-create solutions and establish communities of practice
After a decade spent supervising payment systems at the Central Bank of Kenya, I started promoting innovation across the financial sector working. Over the past few years, I have been advocating the importance of human-centric design (HCD), the need to build empathy and a deep understanding of the people you are designing for. HCD is ‘an approach to problem-solving commonly used in design, management, and engineering frameworks that develops solutions to problems by involving the human perspective in all steps of the problem-solving process.’ In my HCD journey, I have collaborated with both private and public sector stakeholders in designing products that meet the financial needs of underserved segments or designing more inclusive and innovative policies.
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.
Navigating the intricacies of AI in suptech
This is the second post of the Cambridge SupTech Lab log series ” Artificial intelligence (AI) in financial supervision: Promises, pitfalls, and incremental approaches”. The first post of the series is available here. Read the third post in the series here.
Artificial intelligence in suptech: The need for public sector adoption and adaptation
This is the first post of a series dedicated to “Artificial intelligence (AI) in financial supervision: Promises, pitfalls, and incremental approaches.”
Artificial Intelligence (AI) has already reshaped the financial services sector. The industry has already fully embraced AI across nearly all facets, including data analytics, risk management, compliance, and customer services.
But as this technology develops, so does the risk landscape.
Generative AI in financial supervision: A brief history of a revolution in progress
This is the third post of the Cambridge SupTech Lab blog series “Artificial intelligence (AI) in financial supervision: Promises, pitfalls, and incremental approaches”. In the first post of the series, we explored opportunities for AI in financial supervision. In the second post, we further discussed the need for a “human in the loop” and the complexities of integrating AI into existing supervisory systems, including the ethical considerations, data privacy issues, and the ever-present challenge of balancing innovation and regulation. In this third post, we double-click on Generative AI, a subfield of AI that’s becoming ubiquitous in conversations around tech, financial services, and increasingly in financial supervision.
Women for financial inclusion: Interview with May Abulanga, Central Bank of Egypt
For the month of March, in honor of International Women’s Day, the Cambridge SupTech Lab will be featuring inspiring leaders of women in finance and financial supervision. We asked them questions about financial inclusion as well as about career advice and mentorship. Our next leader is May Abulanga, First Sub Governor, Central Bank of Egypt.
Gender in financial supervision: Interview with Simran Singh, UK Financial Conduct Authority (FCA)
For the month of March, in honor of International Women’s Day, the Cambridge SupTech Lab is featuring inspiring leaders of women in finance and financial supervision. We asked them questions about financial inclusion as well as about career advice and finance mentorship. Our next leader is Simran Singh, TechSprint Lead, Innovation Lab, Financial Conduct Authority.
