Hi SupTech Community,
Welcome to the 33rd 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, Alliance for Innovative Regulation, Asian Development Bank, Bank for International Settlements, Central Banking, Currency Research, Global Government Fintech, Monetary Authority of Singapore, National Bank of Rwanda, Securities Commission Malaysia, and others.
Central Banking & Technology
Bank for International Settlements (BIS) releases details of planned cross-border payments proof of concept (POC). The BIS Innovation Hub has released an interim report on Project Rialto, a groundbreaking initiative aimed at transforming the $800 billion retail cross-border payments market. In collaboration with central banks from France, Italy, Malaysia, and Singapore, the project seeks to develop a POC that combines instant payment systems with tokenised central bank money settlement. By introducing an automated foreign exchange conversion layer, Project Rialto aims to address key challenges in international payments, including high costs, slow processing times, and settlement risks. Read more here.
Korea has expanded its DART (Data Analysis, Retrieval and Transfer System) into English to enhance foreign investment access. Korea’s Financial Supervisory Service (FSS) launched an upgraded version of its English DART (electronic disclosure) platform on February 10, featuring expanded English content and a new open data platform. Through open application programming interfaces (APIs) and webpage services (Electronic Disclosure Data Search Service), foreign investors can access key legal disclosure documents in English in real-time, including standardised content and formats for business reports, marking a significant improvement from the previous Korean-only main text format. Read more here.
Cybersecurity, suptech, and central bank digital currencies (CBDCs) lead Central Banks’ research priorities, Central Banking Fintech Benchmarks 2025 reveal. According to the report, central banks focus their research and collaboration efforts on these three areas. The survey found that 77.1% of central banks prioritise cybersecurity, while 71.4% each emphasise suptech and CBDCs. Despite growing technological advancements, quantum computing remains absent from the radar, with only a tiny percentage (5.7%) highlighting decentralised ledger technology as a key area of interest. Central banks with fintech strategies are notably more likely to prioritise CBDCs in their agendas. Read more here.
Malaysia’s Securities Commission introduces regulatory sandbox for capital market innovation. The Securities Commission Malaysia (SC) has unveiled its regulatory sandbox guidelines, offering a controlled environment for testing innovative capital market products and services. Applications will open from April 15 to May 31, 2025, with priority given to solutions in financial inclusion, Islamic finance, and retirement services. SC chairman Dato’ Mohammad Faiz Azmi emphasised the sandbox’s role in fostering innovation while maintaining investor protection. Interested parties can now access the guidelines and application forms, with pre-consultation sessions available. Read more here.
European Union (EU) upgrades financial crime intelligence platform FIU.net. The European Commission launched a next-generation version of FIU.net on February 3, enhancing the EU’s cross-border financial crime-fighting capabilities. The upgraded platform provides financial intelligence units (FIUs) across 27 EU member states, Norway’s FIU and Europol with improved tools for swift information exchange and data cross-matching. The system will expand to include Liechtenstein and Iceland’s FIUs, growing the network to 30 members plus Europol. Read more here.
European Central Bank (ECB) seeks visionary leader for new artificial intelligence (AI) office. The ECB seeks a highly qualified candidate to lead its newly established artificial intelligence office. The successful applicant will coordinate the implementation of the ECB’s ambitious AI action plan, driving innovation across the organisation while ensuring strong governance and compliance. This strategic role requires a unique blend of technical expertise, leadership skills, and a deep understanding of AI’s potential to transform central banking in the digital age. Read more about the recruitment process here.
Alliance for Financial Inclusion (AFI) commences work on data platform for Arab region financial inclusion. The AFI initiated development of a regional data platform during a virtual Arab Region Financial Inclusion Policy Initiative (ARFIPI) meeting on February 5. The platform will centralise financial inclusion indicators across Arab nations, supporting policy design and monitoring. The project will establish standardised data collection through a dedicated task force, marking the first such unified portal for tracking financial inclusion progress in the Arab region. Read more here.
BIS launches first innovation hub in the Americas. The Bank for International Settlements and Bank of Canada inaugurated the BIS Toronto Innovation Centre, marking the seventh global BIS Innovation Hub and the first in the Americas. The centre will work on developing financial technologies to enhance system efficiency and inclusion across Canada, Latin America, and the Caribbean. Initially, the focus will be on projects related to next-generation financial market infrastructures, innovation for regulatory, supervisory and oversight purposes (suptech) and open finance. Read more here.
Singapore to establish new entity to oversee payment schemes. The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) announced plans to establish a new entity to consolidate the administration of national payment schemes, including FAST, GIRO, PayNow, and SGQR. The entity will streamline the governance of these widely used payment systems and collaborate with MAS on developing Singapore’s national payment strategy. Governed by MAS and financial industry leaders, it aims to enhance payment innovation while maintaining operational continuity. Read more here.
Papua New Guinea tests digital currency with Japanese partners. The Central Bank of Papua New Guinea has completed initial proof-of-concept testing for its digital currency initiative, partnering with Japanese firms Soramitsu and Mitsubishi. The central bank’s governor, Elizabeth Genia, announced successful technical field trials of the ‘digital kina,’ demonstrating core digital currency functions, with plans to expand testing to more financial institutions and explore cross-border payment capabilities. Read more here.
New Zealand government agency pioneers open banking exploration. New Zealand’s Inland Revenue has become the country’s first public sector agency to explore open banking technology, launching a request-for-information (RFI) for potential procurement of open banking and API services. The initiative aims to improve payment accuracy, reduce fraud, and streamline reconciliation processes. This move follows the United Kingdom’s HM Revenue & Customs successful implementation of open banking in government services in 2021, and signals a growing trend of government agencies embracing financial technology to enhance their operations. Interested suppliers have until February 28 to respond to the RFI, which seeks to develop a roadmap for integrating these emerging technologies into the agency’s services. Read more here.
Events
State regulators and industry leaders to explore AI’s role in financial supervision. The Alliance for Innovative Regulation (AIR) is hosting an exclusive roundtable discussion bringing together state regulators and industry executives to examine the expanding role of AI in financial supervision. The focused session, which will be held on February 20, aims to address critical challenges and potential risks associated with AI implementation in regulatory oversight. Register here.
Currency Research hosts landmark payments industry events in February 2025. Currency Research is hosting two major payments conferences back-to-back in Paris this February, offering leaders from central banks’ payment divisions, regulatory bodies, payment service providers, financial services institutions, and network operators a comprehensive week of insights and networking. The Central Bank Payments Conference (February 17-19) will lead into The Global Payments Summit (February 19-21), creating a unique opportunity for attendees to engage with both central bank perspectives and broader payments innovation in a single location. Read more here.
BIS Innovation Hub and Currency Network detail next-gen payment settlement project in FNA’s Payment Systems Broadcast. In the Broadcast, which took place on January 30, hosted BIS Innovation Hub’s Baltazar Rodriguez and Currency Network CEO Animesh Ghosh explored Project FuSSE (Fully Scalable Settlement Engine), a BIS-Inter-American Development Bank (IDB) initiative for modernising financial infrastructure. The speakers discussed the project’s scalable settlement solutions, quantum-resistant security features, and liquidity-saving mechanisms, while exploring private sector’s role in advancing payment system modernisation. Read more here.
EU Supervisory Digital Finance Academy advanced training weeks kicks off with suptech taking centre stage. The Academy resumed its residential training weeks in Florence, hosting 34 National Competent Authorities (NCA) participants between 10-13th February 2025. The program combined machine learning theory with practical application through a suptech sprint methodology. Participants are mapping challenges in supervisory workflows, storyboarding AI-driven solutions, and testing concepts to create actionable, scalable suptech innovations. The Cambridge SupTech Lab collaborated in these initiatives, presenting the last figures from the State of Suptech Report, and AI applications for AML. Read more here.
Rwanda to host Global Inclusive FinTech Forum in february 2025. Kigali International Financial Centre (KIFC) and the National Bank of Rwanda are partnering with Singapore’s GFTN to host the Inclusive FinTech Forum in Kigali from February 24-26, 2025. The event will convene global leaders and investors to advance fintech solutions for economic inclusion and sustainable development across Africa. Read more here.
Finextra’s NextGen Nordics 2025 to address digital resilience and innovation. Scheduled for April 29 in Stockholm, the event will focus on key developments in financial services, including Digital Operational Resilience Act (DORA) compliance, EU’s Instant Payment Regulation (IPR) and Verification of Payee (VoP), and CBDC implementation. The event will gather industry leaders to discuss digital operational resilience, fraud prevention, and the impact of generative AI on payments. Read more here.
South Africa to host Data Centre & Cloud Innovation Summit (DCIS) 2025. Scheduled for April 10 in Johannesburg, the event will gather 300+ industry leaders, cloud innovators, and data centre experts to shape the future of Africa’s digital infrastructure. The DCIS will showcase cutting-edge advancements in cloud computing, data centre design, hybrid IT, and sustainable tech solutions. Key participants include chief technology officers, cloud and data centre architects, digital transformation leaders, and cybersecurity experts, positioning South Africa as an emerging tech hub in the global digital landscape. Read more and register here.
