SupTech: Technology in the Service of Financial Supervision

1Introduction

The BIS Financial Stability Institute defines suptech as innovative technology used by supervisory authorities to support their work. Historically, data collection relied on paper or email reports and manual validation; suptech aims to automate these processes and deepen analysis.

2Discussion

A June 2024 FSI paper finds suptech tools are multiplying but not all are embedded in supervision. Common uses include data visualisation, regulatory reporting, financial risk assessment and supervisory automation, and authorities with a suptech strategy are more likely to have tools that are critical to supervision.

3Conclusion

In a survey of the Informal Suptech Network, most supervisors cited more efficient information retrieval as the main benefit of generative AI, with use concentrated in automating supervisory processes, though hallucination remains a concern.

Sources

همفکران فناوری شریفThis article summarises the official sources cited, prepared by the Hamfekran Fanavari Sharif team for finance leaders.

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