Kwantyfikacja korzyści innowacyjnych zastosowań RegTech i SupTech w nadzorze finansowym
Quantifying the Benefits of Innovative RegTech and SupTech Applications in Financial Supervision

Author(s): Aleksandra Kowalik
Subject(s): Business Economy / Management, ICT Information and Communications Technologies
Published by: Wydawnictwa Uniwersytetu Warszawskiego
Keywords: RegTech; SupTech; FinTech; financial supervision; API; cloud computing; chatbot; NLP; regulatory sandbox;
Summary/Abstract: The purpose of this paper is to present the innovative technologies used by the RegTech (regulatory technology) and SupTech (supervisory technology) industries and examine the extent to which their use in financial supervision impacts the reduction of time and cost of regulatory compliance. RegTech and SupTech, emerging from the ashes of the 2008 financial crisis, are not only helping to reduce the compliance burden and compliance time along with costs for financial institutions and supervisors but, more importantly, are fundamentally changing the nature of the financial services industry. This paper presents some key examples of the application of RegTech and SupTech. Data from nearly 40 regulators and expert sources in more than 20 developed, emerging and developing economies are analyzed, and two case studies are highlighted. These aspects were investigated using the following research methods: desk research and case study. The analysis provides an overview of the actual benefits of implementing these technologies. The paper tries to show the innovative changes RegTech and SupTech bring to different areas of financial supervision. Additionally, the study identifies the success factors of both industries and reviews the actual benefits of implementing these technologies. On this basis, their impact on financial supervision, the adaptation process of financial institutions, as well as the potential for the development of regulatory and supervisory technology in the future were analyzed.

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