Saudi G20 Presidency and BIS Launch RegTech Innovation Hub

The Saudi G20 Presidency and the Bank for International Settlements (BIS) Innovation Hub have launched the G20 TechSprint Initiative to highlight the potential for new technologies to resolve regulatory compliance (RegTech) and supervision (SupTech) challenges. The problem statements identify challenges in regulatory reporting, analytics, and monitoring and supervision, and have been developed from submissions received from Financial Stability Board (FSB) member jurisdictions. Interested private firms can compete and develop innovative solutions to these problems using a cloud-based APIX platform. The hackathon-style competition is also supported by the Monetary Authority of Singapore (MAS), the FSB, API Exchange (APIX), and the RegTech for Regulators Accelerator (R2A).