Application Foundry
We partner with financial authorities and technology vendors to co-create and deploy cutting-edge, scalable suptech applications. Our team will help detail the technical specifications, de-risk procurement for all parties, and provide project management support and hands-on technical assistance including security testing. The SupTech Foundry largely builds on the experience of the RegTech for Regulators Accelerator (R2A), which has successfully developed ground-breaking solutions introducing an agile approach to the collaboration between financial authorities and technologists.
The most transformative proofs of concept developed by the Innovation Leaders through the Innovation Leadership Programme are selected for agile prototyping and deployment. The process will involve global competitions to crowdsource ideas from technologists and identify the best implementation partners among both other financial authorities and vendors.
Resourcing
Vendor selection and procurement
- Choose vendor selection model that best fits project’s need
- Vendor selection through global competition
- Vendor due diligence and contracting
Prototyping
Iterative testing & development
- Use the “lean” approach to accelerate testing and development
- Apply “rapid learnings” from each iteration to progressively refine the project
- Frequent iterations with checks-in with supervisory agency and course corrections
Production
Deploying the application
- Prototype tested
- Capacity building for supervisory agency to maintain the application (if required)
- Implementation of change management plan
Examples of applications developed
