The group of twenty and innovation hub the Bank for international settlements in Singapore launched the initiative TechSprintv to identify the potential of financial technology in the regulation (RegTech) and oversight (SupTech).
In this regard, a competition among developers of financial technology. They will be asked to solve actual problems of regulation in the areas of regulatory reporting, Analytics, monitoring and supervision. The Bank of Russia takes an active part in the activities of the “group of twenty” on the financial regulation.
To participation in competition are invited it developers and technology companies with experience in FinTech, RegTech, and SupTech solutions and desire to make a contribution to the development of Central banks and regulatory oversight of next generation technologies. Applications for participation are accepted till 27 may 2020.
The authors of the selected proposals will be invited to demonstrate their solutions to national regulators and other stakeholders on the virtual round table TechSprint Touchpoint in July of this year. A group of independent experts will select the most promising projects. The cost of participation of each of the finalists will be offset by grants. The winners will be announced in October, for each solved problem will be given a cash prize.
The winners will showcase their solutions in the FinTech festival in Singapore in November 2020.