Briefing on RegTech for Regulators, UNSGSA Fintech Sub-Group on RegTech for Regulators

Regulatory technology (“RegTech”) involves new technologies to help financial service providers streamline back-office functions, enhance productivity, and overcome regulatory challenges, such as the risks and costs related to compliance obligations. RegTech for Regulators (also called “SupTech”) involves technology-based solutions and data science that can help financial authorities regulate and supervise the marketplace more effectively and efficiently. RegTech for Regulators solutions can support financial authorities to implement their mandates related to financial stability, integrity, inclusion, and consumer protection. Some of these solutions are critically needed to monitor competition and enable innovation, and to facilitate more cross-sectoral and cross-jurisdictional cooperation between supervisory authorities.