Hi SupTech Community,
Welcome to the 47th issue of the Cambridge SupTech Lab bi-weekly LinkedIn newsletter, a source for updates on recent innovations, breakthroughs, opportunities, upcoming events in the suptech field, and news from the Cambridge SupTech Lab team.
If you would like to flag any items for inclusion in the next newsletter, please email us at cambridgesuptechlab@jbs.cam.ac.uk. Occasionally, we email our global community of supervisors, data scientists, vendors, and suptech experts to share event invites, news, or new courses—subscribe here.
This edition includes news from the Alliance for Financial Inclusion, Arab Monetary Fund, Asian Development Bank, Bank for International Settlements, European Central Bank, FinCoNet, Global Government Fintech, International Association of Insurance Supervisors, Reserve Bank of Australia, Toronto Centre, and others.
Highlighted
The State of SupTech Report 2024 is live!
The Cambridge SupTech Lab, in collaboration with Digital Transformation Solutions LLC, has published its State of SupTech Report 2024, examining supervisory use cases, digital infrastructure blockers and enablers, change management processes, and development strategies, drawing insights from 228 financial authorities across 144 countries over three years. In 2024 alone, 139 financial authorities from 100 countries participated, alongside 23 suptech solution providers.
Key findings reveal that over half the world now embraces advanced supervisory technologies, with 171 financial authorities in 107 countries operating live suptech implementations. The adoption gap between advanced economies (AEs) and emerging markets continues to narrow, with suptech expanding beyond core areas (such as prudential supervision, AML/CFT and consumer protection) into cyber risk detection (46%) and climate/ESG reporting (30%). Around 80% of authorities report improved risk detection, data accuracy and decision-making, with GenAI (generative artificial intelligence) adoption more than doubling from 8% to 19% between 2023 and 2024. However, significant challenges persist, including data analytics limitations (63%), technical skills gaps (60%), budgetary constraints (51%), and procurement barriers affecting 44% of authorities, with AEs facing greater procurement difficulties (58%) than emerging markets (39%).
🔗 Access and download the full report: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5518142
📅 Join us for the Launch Webinar to discuss the findings and their implications for the future of financial supervision on 30 September 2025: Click here to register
Central Banking & Technology
Bank for International Settlements unveils Project Danu to monitor emerging risks by leveraging digital twin technology. The BIS has launched a collaborative initiative across its Eurosystem, Hong Kong and Singapore Centres to develop real-time monitoring of financial stability threats using digital twin technology. Focusing initially on extreme weather events, which caused USD 131 billion in economic losses during the first half of 2025, the project will help central banks better quantify financial impacts from natural disasters. The framework aims to address rising risks to insurers through large claims and banks via increased credit risks, rising default rates, and property devaluation. Read more here.
Alliance for Financial Inclusion’s (AFI’s) Pacific Islands Regional Initiative (PIRI) members commit to developing a regional suptech platform. The AFI Pacific Island members have voted to implement a shared Bank Supervision Application following PIRI leaders’ roundtable meeting on 3 September. The web-based suptech platform, already being used by 21 regulators across Africa, Asia and the Americas, will launch through pilot testing in Fiji and Vanuatu before regional rollout. AFI’s Pacific region manager noted the platform will standardise supervisory practices, modernise regulatory oversight, address fraud and consumer protection issues, and accelerate the transition to digital economies across Pacific island nations. Read more here.
European Central Bank’s (ECB’s) Supervisory Board Chair Claudia Buch champions AI-powered infrastructure for evidence-based financial regulation. Buch has outlined plans for a 21st century evidence-based policymaking infrastructure that harnesses AI to improve financial regulation and supervision. Speaking at the BIS Innovation Summit, she emphasised five key pillars including evaluation frameworks, repositories and meta-analyses, data centres with common documentation, innovative modelling tools, and structured academic exchanges, with the ECB already deploying AI tools such as “Athena” for supervisory tasks and “Navi” for network analysis. Buch warned against rolling back post-crisis financial reforms despite recent sector resilience, noting that “this time is unlikely to be different” when it comes to financial vulnerabilities. Read more here.
International Association of Insurance Supervisors (IAIS) relaunches Insurance Core Principles (ICPs) self-assessment tool (SAT) with enhanced features. The IAIS has transferred hosting from the Access to Insurance Initiative and introduced improved usability and security features to help supervisors evaluate compliance with global insurance standards. The tool enables supervisors to assess adherence to ICPs, receive instant feedback, identify improvement areas and track progress towards meeting internationally accepted supervision frameworks across all jurisdictions. Read more here.
BIS develops project Keystone platform to unlock ISO 20022 payment data analytics. The BIS has developed a standardised analytics platform as Ninety-three percent of payment system operators worldwide implement or work towards adopting the ISO 20022 messaging protocol. The project features two modules addressing data structure complexities and analysis capabilities, potentially serving as an off-the-shelf component for payment systems. Keystone could enable central banks to gain enhanced understanding of real-time economic conditions, system liquidity and compliance monitoring through enriched payment data. Read more here.
The State Bank of Pakistan (SBP) invites applications for first cohort of regulatory sandbox to foster innovation. The SBP has established a controlled testing environment for fintech companies to trial new products under relaxed regulatory conditions, with applications open until 5 October, 2025. The initiative focuses on three areas: technology-enabled solutions for inward remittances, open banking, and remote merchant onboarding. Part of the central bank’s Vision 2028 strategic plan, the sandbox aims to foster innovations in the financial sector while ensuring consumer protection and financial stability. Read more here.
Central Bank of the Republic of Turkey (TCMB) calls for companies to ‘enrich’ digital currency explorations. The TCMB has invited finance and technology firms to contribute to its central bank digital currency (CBDC) feasibility studies through pilot applications. Companies can submit up to three projects across five areas: tokenisation, programmable payments, user-sovereign identity, interoperability with existing systems, and machine-to-machine payment scenarios. The deadline for first-stage applications is 15 October 2025. Read more here.
AFI publishes report on financial innovations driving financial inclusion across member countries. This special report catalogues over 50 proven and emerging solutions including mobile money, interoperable systems, artificial intelligence, central bank digital currencies, suptech, blockchain, and regulatory sandboxes that have brought more than 800 million adults into formal financial services. The publication serves as a policy compass with real-world examples and impact insights to help policymakers navigate fintech developments and foster inclusive financial ecosystems for unbanked and underserved communities. Read more here.
Australian regulators detail plans for building ‘Anti-Fragility’ into financial system. The Reserve Bank of Australia (RBA) and the Australian Prudential Regulation Authority (APRA) have detailed initiatives to counter emerging geopolitical, technological, and operational threats to the country’s financial sector. Key measures include a rebooted Industry Resilience Initiative to maintain essential payment services during disruptions, migration to quantum-safe encryption standards, raising licensing thresholds to encourage competition, and advancing Projects Acacia and Mandala to strengthen wholesale and cross-border payments. The approach emphasises building resilience via innovation, dynamism and competition. Read more here.
Central Bank of Brazil (BCB) steps up financial system security after hacks. The BCB has introduced immediate restrictions on its instant payments system following organised cyber-attacks on financial software and payment companies. Non-authorised payment institutions and those connecting via Information Technology Service Providers now face a BRL 15,000 (USD 2,764) limit on Pix and electronic transfers, though this may be lifted once new security controls are implemented. The measures respond to recent breaches, including an attack on financial software company Sinqia that resulted in customer funds being stolen through the internationally acclaimed Pix network. Read more here.
GenAI on the rise: United Kingdom (UK) public sector’s AI appetite and attitudes revealed in survey. A study of 287 UK public servants found that over half use generative AI tools in their day-to-day work, but more than 40 per cent have encountered AI-related errors. The‘UK Public Sector Fintech and Artificial Intelligence Awareness Study’, conducted between July and August 2025, reveals that despite two-thirds seeing potential for policy improvement, 83.6 per cent want involvement in how AI is introduced to their departments. The findings emerge as the UK government champions AI in its latest ‘One Big Thing’ campaign. Read more here.
Swiss Government integrates fintech office into State Secretariat after high demand. The Financial Innovation Desk (FIND) will become a permanent specialist unit within the State Secretariat for International Finance from 1 September 2025, one year ahead of its original three-year pilot schedule. Originally established in 2023 to act as a catalyst for financial innovation and facilitate exchanges between projects, research, investors and authorities, the office’s considerable relevance and high service demand prompted the early integration. The move supports Switzerland’s objective to become a world leader in digital financial services through enhanced coordination of innovation initiatives. Read more here.
Events
Toronto Centre to deliver risk-based supervision programme for Asia-Pacific securities regulators. Toronto Centre, in partnership with the International Organization of Securities Commissions (IOSCO), is offering a five-day virtual programme from 29 September to 3 October 2025 to enhance risk-based supervision capabilities among Asia-Pacific securities regulators. The programme covers key topics including leadership, operational resilience, ESG issues with climate disclosure focus, and stakeholder communication, targeting mid- to senior-level officials with minimum three years’ securities supervision experience. Participants, exclusively IOSCO members, will develop jurisdiction-specific action plans for risk-based supervision implementation. Read more here.
“5th Asia Finance Forum: Positioning for the Future” convenes in Manila. The Asian Development Bank will host stakeholders from across the Asia-Pacific region at its Manila headquarters from 23-25 September 2025 to explore sustainable and innovative financial systems. The conference will engage policymakers, private sector representatives, academia and NGOs in discussions on fintech trends, sustainable finance and innovative regulatory frameworks. Key objectives include knowledge sharing through case studies and strengthening cross-border collaboration for harmonised regulatory approaches to emerging technologies. Matt Grasser, Chief Technology Officer and Co-Founder at Digital Transformation Solutions LLC, will speak on “AI, SupTech, and the Next Regulatory Frontier“, exploring innovation benefits and consumer protection. Read more here.
Jordan FinTech Festival to unite regional financial innovation stakeholders in Amman. The Central Bank of Jordan and Arab Monetary Fund will host a four-day event from 22-25 September 2025 in Amman, focusing on digital payments, open financial services, cybersecurity and virtual asset tokenisation. The festival aims to strengthen partnerships between financial institutions, startups and regulatory bodies and facilitate expertise exchange among Arab countries’ financial sector stakeholders. The programme includes the 14th FinTech Group meeting on 23 September and a cryptoassets regulatory workshop on 22 September, with registration required by 21 August 2025. Juliet Ongwae from Digital Transformation Solutions LLC will discuss AI use cases and ethics in the “AI Strategies in the Financial Sector” session. Read more here.
Crisis Preparedness Programme hosted by Toronto Centre in partnership with Sveriges Riksbank to take place from 29 September-3 October. The five-day in-person programme in Copenhagen targets middle and senior-level supervisors, regulators, central bankers and deposit insurance staff from Official Development Assistance (ODA) eligible countries. Led by Toronto Centre programme leaders with extensive crisis management experience, participants will gain practical tools for financial surveillance and crisis response through interactive simulations aligned with international best practices. Topics include surveillance of financial institutions, assessments of systemically important financial institutions, media management during crises, and coordination with global authorities during bank failures. Read more here.
FinCoNet annual general meeting (AGM) and international seminar to convene in Dublin from 26-28 November 2025. The event, hosted by the Central Bank of Ireland, will feature standing committee updates, member roundtables on supervisory risks, and an industry dialogue on ‘Buy Now Pay Later’ services during the AGM sessions. The concluding seminar focuses on “Strengthening Financial Consumer Protection and Supervision in an Increasingly Digitalised World,” with panel discussions on consumer vulnerability in the digital age and the role of conduct supervisors in public engagement and financial education. Read more here.
Toronto Centre hosts women’s leadership programme (WLP) focused on change management. Toronto Centre is delivering its second-level WLP Programme for supervisors and regulators from 2 September to 23 October 2025, targeting current women leaders who hold managerial and/or executive positions seeking to strengthen change leadership skills within financial supervisory institutions. The virtual programme covers effective change leadership, stakeholder management, communication skills and addressing resistance to organisational change, with participants. The initiative builds upon the successful WLP 1 programme running since 2020 and includes virtual networking sessions to connect international peers and programme leaders. Read more here.
AFI announces 2025 global financial inclusion award winners at Namibia forum. Bank of Tanzania won the Nestor Espenilla Jr. Financial Inclusion Innovation Award, recognising outstanding commitment towards innovation and use of technology to advance financial inclusion. Other major winners include State Bank of Pakistan for ‘Global Youth Financial Inclusion’, Bangladesh Bank for ‘Maya Declaration Commitment’, and Central Reserve Bank of El Salvador for institutional leadership. Technical leadership awards were presented across seven categories to winners from central banks and regulatory authorities across Africa, Asia, and the Americas, celebrating achievements in areas including digital financial services, consumer empowerment, and inclusive green finance. Read more here.
BIS Innovation Hub launches academic engagement programme at inaugural workshop. Distinguished professors and BIS decision-makers convened from 10 to 13 June 2025 to explore technology applications in financial services, focusing on themes such as AI, interoperability, privacy-enhancing technologies, digital identity and decentralised finance. Key findings highlighted concerns over AI-assisted attacks despite economic benefits and policy barriers hindering infrastructure integration. The workshop established privacy-by-design approaches and trusted execution environments as critical for next-generation systems, with self-sovereign identity solutions shifting institutions from data issuers to validators. Read more here.