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In the SupTech Loop #2

Hi Suptech Community,

Welcome to the Cambridge Suptech Lab bi-weekly LinkedIn Newsletter, a source for updates on recent innovations, breakthroughs, opportunities, and upcoming events in the field of suptech, as well as news from the Cambridge SupTech Lab team. If you would like to bring to our attention any items for inclusion in the next newsletter, please email us at cambridgesuptechlab@jbs.cam.ac.uk. Occasionally, we also connect with our global community of supervisors, data scientists, vendors and suptech experts via email – subscribe here.


  • The Bank for International Settlements (BIS) concludes Project Aurora, a proof-of-concept project that demonstrates how data, technology and cooperation can be used to fight money laundering in different organizations and across borders. The BIS Innovation Hub Nordic Centre has recently completed project Aurora, which examines new methods of combating money laundering using payments data, privacy-enhancing technologies, artificial intelligence and enhanced cooperation across borders and institutions. The project findings highlight the effectiveness of employing advanced analytics and technological solutions that adopt a behavioural-based analysis approach in detecting money laundering networks as compared to the current rules-based approach, which is limited by its siloed nature. Read more here.
  • In a speech at the European Banking Federation’s International Banking Summit, Agustín Carstens, General Manager of the Bank for International Settlement (BIS) highlighted the crucial role of banking supervision and called for upgrades and updates. He stated that by allocating adequate resources and leveraging technology, supervisors can detect vulnerabilities at an early stage and act before they escalate into significant and intricate issues. He further clarified that although this may not completely eliminate all future bank failures, such investments will certainly decrease the probability and magnitude of failures that could jeopardize the stability of the financial system. Read more here.

Suptech Innovations 

  • Solidus Lab introduces Halo, a DEX-based insider trading detection tool. Solidus Labs has launched a first of its kind solution to spot cryptocurrency insider trading that takes place on the blockchain. This tool compares trades occurring on decentralized exchange liquidity pools against a programmatic listing-event database and identifies cryptocurrency addresses that may be trading based on significant nonpublic information. Read more here and listen to Chen Arad, the co-founder and chief experience officer of Solidus Labs, discussing Halo on a CNBC interview here

Research Spotlight  

  • Project Polaris: secure and resilient CBDC systems, offline and online. The Bank for International Settlements (BIS) Innovation Hub Nordic Centre has released a comprehensive handbook, as part of Project Polaris, that examines major facets of how central bank digital currencies (CBDCs) could function for offline payments. Since there is no one-size-fits-all solution, the extent to which CBDCs will be offered or utilized offline will vary greatly depending on jurisdiction, region, demographics and particular contexts, which will also have an impact on solutions selected. Read more here.
  • Audit 4.0-based ESG assurance: An example of using satellite images on GHG emissions. The paper focuses on harnessing the emerging technologies of Audit 4.0, the effectiveness and timeliness of ESG (Environmental, Social, and Governance) assurance can be significantly enhanced. Audit 4.0 represents a novel audit approach that combines the physical and digital worlds through technologies like sensors and the Internet of Things (IoT). This paradigm facilitates real-time and accurate assurance by capturing external evidence from the physical world promptly. In Audit 4.0, audit-related data are directly gathered from the physical environment and transmitted to a central cloud. Various continuous assurance models then utilize this data to detect anomalies and promptly notify relevant stakeholders of high-risk events. Read more here.
  • Suptech experts explain the importance of incorporating AI and ML to improve regulatory oversight. The article highlights various expert opinions by various founders and CEOs from industries such as crypto and ESG, on incorporating AI and ML in suptech and how it can significantly improve regulatory oversight by enhancing data analysis, automating compliance assessments, detecting emerging risks, and promoting transparency and accountability in regulatory decision-making. However, careful considerations and collaboration are necessary to address challenges related to data quality, privacy, bias, and regulatory expertise. Read more here.

Industry News  

  • Regnology enters exclusive talks to acquire French regtech Invoke. Regnology, a software platform offering regulatory reporting solutions, is in exclusive talks to acquire Invoke, a French-based provider of financial, regulatory, and tax reporting solutions for supervisory authorities, and reporting entities. Invoke’s corporate tax solution will complement Regnology’s  financial tax reporting solution and open a new growth area for the firm. On completion of the agreement, the deal would mark the fifth acquisition in less than a year for Regnology. Read more here.
  • South Korea proposes real-time monitoring to freeze funds on Binance. South Korea is set to implement a real-time monitoring system for crypto exchanges and Binance, with the goal of strengthening regulatory oversight. On May 30, the Agency engaged in a productive dialogue with Binance and the top-five exchanges to address the same. The objective is to establish a criminal investigation system that enables real-time monitoring of wallet addresses and freezing of funds. See more here.
  • The International Organization of Securities Commissions (IOSCO) sets out global crypto regulation standard. IOSCO unveiled for consultation its first set of global guidelines for regulating and supervising crypto assets. The proposed guidelines are principles-based and outcomes-focused and are aimed at the activities performed by crypto-asset service providers. They employ IOSCO’s widely accepted global standards for securities markets regulation to address key issues and risks identified in crypto-asset markets. Read more here.
  • The Monetary Authority of Singapore (MAS) and Google Cloud collaborate on responsible generative AI. MAS and Google Cloud recently signed a memorandum of understanding to work together on generative artificial intelligence solutions rooted in responsible AI practices. In addition to cultivating technologists with deep AI skillsets, the collaboration will investigate technological opportunities to promote the development and application of responsible generative AI applications within MAS. Read more here.


  • Consulting services for fintech and Digital Financial Services (DFS) data supervision.  The Alliance for Financial Inclusion’s (AFI) Digital Financial Services Working Group (DFSWG) is seeking consultancy services to support the research, validation and development of a knowledge product that offers comprehensive and actionable guidance on the opportunities inherent in FinTech and DFS data for supervision and its linkages and/or implications in supporting, accelerating and sustaining financial inclusion to members of the AFI (Alliance for Financial Inclusion) network and beyond. Read more here.

In case you missed it 

  • The Supervision of FinTech in the Africa Region: A Case Study of Ghana. The paper highlights the benefits of designing Ghana’s supervisory process to suit the data driven models of fintechs and requiring reporting of granular data as opposed to traditional reports. It further discusses the supervisors’ internal and external cooperation process, financial inclusion considerations and its recommendations/lessons from their experience. Read more here.
  • Market Monitoring Toolkit & Case Studies for Financial Consumer Protection. This toolkit has been developed by CGAP (Consultative Group to Assist the Poor) to help financial supervisory authorities comprehend the range of market monitoring tools available to accomplish their supervisory goals. It also includes practical guidance for choosing and implementing individual tools. Read more here.
  • FSD Ethiopia’s Knowledge Series on Consumer Protection. The Financial Sector Deepening (FSD) Ethiopia event held on 1st June 2023 brought together various stakeholders to exchange views, share knowledge and generate insights on consumer protection in the digital economy. One notable presentation was made by Rafael Mazer, director at Fair Finance Consulting, shared data from the Cambridge SupTech Lab’s State of Suptech Report 2022, which highlights that suptech applications are prioritising consumer protection use cases. Download the report here.

Upcoming Events 

  • Crypto Transaction Monitoring & Privacy In-Person Training session. The School of Economics & Business Administration (SEBA) at Saint Mary’s College of California is hosting an in-person fraud training session on June 6th, 2023. The session will dive into current fraud trends and share industry best practices. Read more here.
  • Central Banking Summer meetings 2023. This event, hosted by Central Banking, brings together central bankers for two days of essential meetings, between 13th and 14th June in London. Various topics will be covered including monetary policy, financial stability, climate risk, reserve management, fintech and currency and payments. Read more here.



Cambridge SupTech Lab

Cambridge SupTech Lab


Jose Miguel Mestanza Hirakata

Cambridge SupTech Lab


Juliet Ongwae

Cambridge SupTech Lab


Kalliopi Letsiou

Cambridge SupTech Lab


Matt Grasser

Cambridge SupTech Lab


Matt Grasser and Kalliopi Letsiou

Cambridge SupTech Lab


Simone di Castri

Cambridge SupTech Lab

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