Featured Product

    BIS and Saudi G20 Presidency Announce TechSprint Winners

    October 06, 2020

    BIS Innovation Hub and Saudi G20 Presidency announced winners of the G20 TechSprint challenge at the conclusion of the Enabling Regulatory and Supervisory Solutions for the Digital Era symposium. The symposium was hosted by the SAMA Governor Dr. Ahmed Alkholifey and the BIS Innovation Hub Head Benoît Cœuré. The winners, chosen by an independent panel of experts, addressed one or more of the three problem topics: dynamic information-sharing, monitoring and surveillance, and regulatory reporting. The winners have been invited to showcase their submissions at the Singapore FinTech Festival, a virtual event scheduled for December 07-11, 2020.

    The following three solutions were decided as winners:

    • ISDA-REGnosys won the regulatory reporting challenge for its solution "Consistent Regulatory Reporting via the Common Domain Model."
    • FNA won the dynamic information-sharing category for its solution "FNA Platform for Dynamic Information Sharing and Real-Time Analytics (FNA Platform)."
    • Tookitaki won in the monitoring and surveillance category for its solution "Crypto-currency AML Typology Repository Management."

    The hackathon-style competition was launched in April to highlight the potential for technology to resolve regulatory compliance (regtech) and supervisory (suptech) challenges. The symposium was part of the Saudi G20 Presidency's program for digital era supervisory and regulatory issues. It comprised two sessions, with the first offering a platform for the final TechSprint prizewinners to share their solutions. The second tackled problems facing supervisors and financial institutions. Participants included central bank governors, deputies, heads of international and regional financial bodies, and private-sector experts. TechSprint was a joint initiative of the BIS Innovation Hub and the Saudi G20 Presidency to showcase the potential for new innovative technologies to resolve operational problems in the areas of regulatory compliance and supervision. It was implemented with the support of MAS, SAMA, FSB, API Exchange (APIX), and Regtech for Regulators Accelerator (R2A).

     

    Related Links

    Keywords: International, Middle East and Africa, Saudi Arabia, Banking, G20, TechSprint, Fintech, Regtech, Suptech, Reporting, SAMA, BIS Innovation Hub, BIS

    Featured Experts
    Related Articles
    News

    UK Authorities Consult on Implementation of Basel 3.1 Standards

    The UK authorities have published consultations with respect to the Basel requirements for banks. The Prudential Regulation Authority (PRA) published the consultation paper CP16/22 on rules for the implementation of Basel 3.1 standards.

    November 30, 2022 WebPage Regulatory News
    News

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News
    News

    FSB and NGFS Publish Initial Findings from Climate Scenario Analyses

    The Financial Stability Board (FSB) and the Network for Greening the Financial System (NGFS) published a joint report that outlines the initial findings from climate scenario analyses undertaken by financial authorities to assess climate-related financial risks.

    November 15, 2022 WebPage Regulatory News
    News

    FSB Issues Reports on NBFI and Liquidity in Government Bonds

    The Financial Stability Board (FSB) published a letter intended for the G20 leaders, highlighting the work that it will undertake under the Indian G20 Presidency in 2023 to strengthen resilience of the financial system.

    November 14, 2022 WebPage Regulatory News
    News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News
    News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News
    News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News
    News

    EU Finalizes Rules Under Crowdfunding Service Providers Regulation

    The European Union has finalized and published, in the Official Journal of the European Union, a set of 13 Delegated and Implementing Regulations applicable to the European crowdfunding service providers.

    November 08, 2022 WebPage Regulatory News
    News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News
    News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8597