Featured Product

    BIS Publishes Update on G20 TechSprint Initiative

    August 10, 2020

    BIS published an update on the G20 TechSprint Initiative, which was launched in April 2020 and aims to highlight the potential for technologies to resolve regulatory compliance (regtech) and supervisory (suptech) challenges. Out of 128 submissions from 35 countries, twenty teams had been shortlisted in the hackathon-style competition. The event held on August 06-07, 2020 gave the shortlisted teams an opportunity to demonstrate their solutions to a panel of independent judges and receive feedback before the final judging, which is scheduled for October 2020. The shortlisted solutions included those from companies such as BearingPoint Software Solutions, BlockFundChain, Business Reporting—Advisory Group, Financial Network Analytics (two teams), ITC Forward Innovation, RegCentric, REGnosys, Suade Labs, UnBlock Analysis, and Wolters Kluwer.

    Together with the Saudi G20 Presidency and the BIS Innovation Hub, the G20 TechSprint initiative is also supported by MAS, FSB, API Exchange and the RegTech for Regulators Accelerator. In G20 TechSprint, members of FSB were polled to identify high priority areas in the fields of regtech and suptech. The most compelling problem statements have been selected. The problem statements identify challenges in regulatory reporting, analytics, and monitoring and supervision. Participants were invited to develop innovative solutions to address any of these problem statements. Taking place against the backdrop of the COVID-19 global pandemic, the G20 TechSprint initiative recognizes that financial regulators and supervisors will continue to ensure that the global financial system operates in a stable, efficient, and inclusive manner. The initiative also recognizes that regulators and supervisors require the tools to identify vulnerabilities and share information domestically and across borders in real time, and competitors are encouraged to develop solutions that will support this process.

     

    Related Link: BIS Press Release

     

    Keywords: International, Banking, G20, Regtech, Suptech, TechSprint, Fintech, COVID-19, Reporting, BIS Innovation Hub, BIS

    Featured Experts
    Related Articles
    News

    APRA Proposes to Increase Transparency of Banking Data

    APRA announced that it is resuming consultation on the confidentiality of data submitted to APRA by the authorized deposit-taking institutions.

    September 29, 2020 WebPage Regulatory News
    News

    EC Deems UK Framework for CCPs Temporarily Equivalent to EMIR Rules

    EC adopted a decision determining, for a limited period of time, that the regulatory framework applicable to central counterparties, or CCPs, in the UK and Northern Ireland is equivalent to the requirements laid down in the European Market Infrastructure Regulation (EMIR or Regulation 648/2012).

    September 28, 2020 WebPage Regulatory News
    News

    ESMA to Recognize Three Central Counterparties from UK

    ESMA announced that it will recognize three central counterparties (CCPs) established in the UK as third-country CCPs, from January 01, 2021.

    September 28, 2020 WebPage Regulatory News
    News

    PRA Publishes Version 02.04 of PRA110 Liquidity Metric Monitor Tool

    PRA published Version 02.04 of the PRA110 liquidity metric monitoring tool (PRA110 LMM tool).

    September 28, 2020 WebPage Regulatory News
    News

    LEI ROC Confirmed as Governance Body for OTC Derivatives Identifiers

    FSB confirmed the Regulatory Oversight Committee (ROC) of the Global Legal Entity Identifier System (GLEIS) as the International Governance Body for the globally harmonized identifiers used to track over-the-counter (OTC) derivatives transactions, with effect from October 01, 2020.

    September 25, 2020 WebPage Regulatory News
    News

    FCA Consults on Regulation of International Firms in UK

    FCA is consulting on its approach to the authorization and supervision of international firms operating in UK.

    September 25, 2020 WebPage Regulatory News
    News

    EBA Launches Transparency Exercise for Banks in EU

    EBA launched the seventh annual transparency exercise for banks in EU.

    September 25, 2020 WebPage Regulatory News
    News

    EBA Publishes Single Rulebook Q&A Updates in September 2020

    The EBA Single Rulebook question and answer (Q&A) tool updates for this month include answers to 32 questions.

    September 25, 2020 WebPage Regulatory News
    News

    MAS Amends Notices on NSFR and Single Counterparty Credit Exposures

    MAS published amendments to the Notice 652 on net stable funding ratio (NSFR), along with the related reporting template.

    September 24, 2020 WebPage Regulatory News
    News

    EC Publishes Action Plan for Capital Markets Union in EU

    EC published the action plan to enhance the Capital Markets Union in EU over the coming years.

    September 24, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5855