Digital transformation is moving forward at a breakneck speed. Even though there is a great potential for SupTech tools to support and enhance the supervisory processes, many supervisors are still struggling to find the right balance between functionalities, costs, and implementation approaches of SupTech tools.
Central banks and supervisors recognise the growing demand for a ready-to-use, interoperable tool for direct access to structured data concepts to operationalise them through automated modelling, analysis, and visualisation, which is essential for the effectiveness of macro-and
micro-prudential supervision.
SupTech and RegTech are two sides of the same coin. Although there may be a variation in their definitions, the aim is the same: to enhance the abilities in the lifecycle of data analysis.