Featured Product

    EBA Consults Industry on Use and Uptake of Regtech Solutions Across EU

    August 12, 2020

    EBA is inviting relevant stakeholders, such as financial institutions and information and communication technology (ICT) third-party providers, to share their views and experience on the use of regtech solutions through its regtech industry survey. The focus of the survey is on mapping and understanding the existing regtech solutions, identifying the main barriers and risks for use of regtech solutions, identifying potential ways to support the uptake of regtech across EU. A key aim of the survey is to inform the relevant future policy discussion. Response period for the survey ends on September 30, 2020, with EBA expecting to report on the use of regtech solutions in the first half of 2021.

    Feedback from financial institutions and ICT third-party providers is essential to better understand the extent and the impact of the use of technology-enabled innovation (regtech) for regulatory, compliance, and reporting requirements by regulated institutions. To this end, EBA has prepared two separate regtech questionnaires for the survey. One is to be completed by the financial institutions and the other one by ICT third-party providers. Both questionnaires contain a general part that is aims to collect aggregate information on all types of regtech solutions in use and a more detailed part that aims to take a closer look at individual regtech solutions in the following areas of focus:

    • Supervisory reporting
    • Creditworthiness assessment
    • Compliance with security requirements and standards (information security, cyber-security, and payment services)
    • Monitoring of the business relationship and/or transaction monitoring with respect to anti-money laundering and combating the financing of terrorism

    Results of this survey will be used to report on the current regtech landscape and, where relevant, will inform the broader work on supervisory reporting. However, the regtech industry survey will not lead to any specific policy considerations or recommendations regarding the use of regtech for supervisory reporting. The survey should be completed online, in accordance with the instructions available in the section of EBA website dedicated to the regtech industry survey. After the review of the responses, EBA may further investigate specific areas of regtech via follow-up interviews with financial institutions and ICT third-party providers. The responses to the survey will not be published on a stand-alone basis, but will be only referred to in an aggregate form, in compliance with confidentiality requirements. 


    Related Links

    Comment Due Date: September 30, 2020

    Keywords: Europe, EU, Banking, Regtech, Cyber Risk, ICT, Third Party Providers, Reporting, AML/CFT, Credit Risk, EBA

    Featured Experts
    Related Articles

    BOE Sets Out Its Thinking on Regulatory Capital and Climate Risks

    The Bank of England (BOE) published a working paper that aims to understand the climate-related disclosures of UK financial institutions.

    March 13, 2023 WebPage Regulatory News

    OSFI Finalizes on Climate Risk Guideline, Issues Other Updates

    The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.

    March 12, 2023 WebPage Regulatory News

    BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending

    BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.

    March 03, 2023 WebPage Regulatory News

    HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks

    The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.

    March 02, 2023 WebPage Regulatory News

    BCBS Report Examines Impact of Basel III Framework for Banks

    The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.

    February 28, 2023 WebPage Regulatory News

    PRA Consults on Prudential Rules for "Simpler-Regime" Firms

    Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.

    February 28, 2023 WebPage Regulatory News

    DNB Publishes Multiple Reporting Updates for Banks

    DNB, the central bank of Netherlands, updated the list of additional reporting requests and published additional data quality checks and XBRL-Formula linkbase documents for the first quarter of 2023.

    February 28, 2023 WebPage Regulatory News

    NBB Sets Out Climate Risk Expectations, Issues Reporting Updates

    The National Bank of Belgium (NBB) published a communication on climate-related and environmental risks, issued an update on XBRL reporting

    February 24, 2023 WebPage Regulatory News

    EBA Updates Address Securitization Standards and DGS Guidelines

    The European Banking Authority (EBA) published the final draft of the regulatory technical standards that set out conditions for assessment of homogeneity of the underlying exposures in simple, transparent, and standardized (STS) securitizations.

    February 21, 2023 WebPage Regulatory News

    FSB Publishes Letter to G20, Sets Out Work Priorities for 2023

    The Financial Stability Board (FSB) published a letter intended for the G20 Finance Ministers and Central Bank Governors, highlighting the work that FSB will take forward under the Indian G20 Presidency in 2023

    February 20, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8793