Trinity Of Big Data, Regtech, Suptech: Is It Panacea Or Problem For Financial Regulators?

The global financial system has seen significant changes in the past decade, with the growth of digital financial services and the use of big data in financial works. This has created the need for regulators and supervisors to use technology tools to ensure data-led risk-based supervision. Big Data, RegTech, and SupTech have the potential to revolutionise financial supervision, regulations, and policymaking, and enhance the resilience of the financial system. RegTech and SupTech leverage Big Data to automate tasks such as reporting, risk assessment, and compliance monitoring, while SupTech solutions use advanced analytics and artificial intelligence to enhance supervisory processes.