Hi SupTech Community,
Welcome to the 37th 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, Bank for International Settlements, CGAP, European Banking Authority, Financial Stability Board, International Association of Insurance Supervisors, National Bank of Cambodia, National Bank of Rwanda, Organisation for Economic Co-operation and Development, Reserve Bank of India, Securities and Exchange Commission Philippines, Toronto Centre, and others.
Suptech Innovations
India’s Central Bank mandates use of digital regulatory portal. The Reserve Bank of India has mandated that all regulatory authorisations, licenses, and approvals be processed through its PRAVAAH digital portal from 1 May 2025. Launched last year to enhance efficiency and transparency, the platform has already processed over 3,000 applications using 108 standardised forms, allowing applicants to digitally submit requests and monitor application status via SMS and email. The central bank remains committed to complete end-to-end digitisation of regulatory workflows, though provisions remain for exceptional cases where members of the public cannot access the system. Read more here.
National Bank of Rwanda launches financial inclusion dashboard. The dashboard provides comprehensive insights into the country’s financial access landscape. Updated weekly with data from various financial institutions including banks, microfinance institutions, savings cooperatives, insurers and e-money providers, the platform offers detailed metrics on inclusion levels, account ownership, savings, credit, insurance uptake and service access channels. It features customisable filters allowing analysis by demographic factors such as gender, age and location. It enables policymakers to develop targeted financial inclusion strategies, financial institutions to create more responsive customer solutions, and development partners to optimise their accessibility initiatives and funding priorities. Read more here.
Central Banking & Technology
Suptech improves bank risk management practices, Bank for International Settlements (BIS) working paper finds. The study reveals that suptech effectively disciplines bank behaviour, based on an analysis of the Central Bank of Brazil’s (BCB) early warning system. The BCB’s suptech application assesses institutions’ on- and off-balance positions through three critical perspectives: temporal (comparing current performance to past performance), comparative (benchmarking against peer groups), and intrinsic (identifying potential inconsistencies in financial reporting). The study demonstrates that after a suptech event, banks reveal inconsistencies in their risk reporting and tighten credit to less creditworthy firms, effectively reducing risk-taking. This credit tightening in turn has small spillovers on less creditworthy firms borrowing from affected banks. The findings suggest that moral suasion drives these improvements, offering novel insights into the role of suptech in bank supervision. Read more here.
Philippines Securities and Exchange Commission (SEC) opens regulatory sandbox for crypto service providers (CASPs). The Philippines SEC has launched applications for its Strategic Sandbox (StratBox) program specifically designed for CASPs, aiming to foster responsible innovation while providing a controlled testing environment. Through this program, the SEC seeks to gather critical insights to develop comprehensive regulatory frameworks while maintaining investor protection. Interested parties must submit applications using the SEC Stratbox Application Form, with all inquiries directed to the PhiliFintech Innovation Office. Read more here.
Innovations for Poverty Action (IPA) opens call for consumer protection research in digital finance. IPA has launched its 2025 Consumer Protection Research Initiative, offering both large and small grants for studies examining digital payments and credit products. The programme focuses on four core areas: fraud prevention, price transparency, over-indebtedness and complaints redress mechanisms. This year’s initiative particularly welcomes research addressing gender disparities, productive credit for small businesses and farmers, and the role of agents in consumer protection. Expressions of interest are due by 4 May, with full proposals required by 15 June 2025. Read more here.
Alliance for Financial Inclusion (AFI) opens 2025 global financial inclusion award nominations. The AFI is now accepting nominations for its 2025 Global Financial Inclusion Awards until 16 May. The awards feature two categories: the Nestor Espenilla Jr. Financial Inclusion Innovation Award, honouring AFI members demonstrating outstanding technological innovation in financial inclusion, and the Global Youth Financial Inclusion Award, recognising institutions implementing policies addressing barriers to youth financial services access. An independent jury will select winners based on commitment, policy implementation, measurable impact and leadership in knowledge exchange, with finalists announced in July and winners revealed at the 2025 Global Policy Forum. Read more here.
Financial Stability Board (FSB) launches forum to address cross-border payments data challenges. The FSB has established a new Forum on cross-border payments data to tackle inconsistencies in global data frameworks that create unnecessary frictions in international transactions. Following recommendations published in December 2024, the initiative will bring together experts in payments, anti-money laundering, sanctions and data protection to strengthen cooperation on how data is collected, stored and managed across borders. Working alongside organisations including the Financial Action Task Force and the Organisation for Economic Cooperation and Development (OECD), the Forum will feature an industry advisory body and hold its inaugural meeting in May. Read more here.
The National Bank of Cambodia joins Southeast Asian payment initiative. Cambodia’s central bank has officially joined the Regional Payment Connectivity initiative, bringing the total ASEAN signatories to nine. Announced in Kuala Lumpur during the Malaysia-Cambodia cross-border QR payment linkage launch, this move strengthens Southeast Asian financial integration. Established in 2022, the initiative aims to deliver faster, cheaper and more transparent cross-border payments, supporting economic activities, small and medium-sized enterprises (SMEs) market access and improved remittance flows across the region. Read more here.
The United Arab Emirates (UAE) plans digital currency launch to accelerate financial transformation. The Central Bank of the UAE plans to introduce a retail central bank digital currency, the digital dirham, in the fourth quarter of 2025. The blockchain-based currency represents a key component of the bank’s Financial Infrastructure Transformation Programme, which is already 85% complete. Announced alongside a new dirham symbol, the digital currency initiative aims to enhance payment security and efficiency whilst promoting financial inclusion and innovation as part of the UAE’s broader strategy to achieve a cashless society by 2026. Read more here.
BIS paper proposes standardised model to describe and compare payment system architectures. The authors propose a formally defined model to represent three key functions of payment system architectures: issuance/withdrawal, holding and transfer of funds; using a precisely defined syntax. Applicable across various payment types including domestic and cross-border transfers, cash, cards, e-money and stablecoins, the model provides central banks, regulators and industry stakeholders with a powerful tool to analyse both existing and emerging payment architectures. Read more here.
Gender-disaggregated data enhances financial oversight, CGAP blog. According to the blog, supply-side gender-disaggregated data (S-GDD) offers financial supervisors a powerful tool for building more inclusive and stable financial systems. The study highlights how countries like Brazil, Chile and Rwanda successfully implement S-GDD collection practices to reveal hidden financial behaviours and disparities. While granular data provides the most analytical potential, allowing for multidimensional analysis across demographics, technological challenges remain for many emerging markets still reliant on manual reporting systems. Despite implementation hurdles, the authors emphasise that the insights gained from gender-informed analysis justify the investment in advanced data collection and privacy protection technologies. Read more here.
The International Association of Insurance Supervisors (IAIS) publishes a comprehensive application paper on the supervision of climate-related risks in the insurance sector. Following extensive consultation, the document outlines how existing Insurance Core Principles can be applied to address mounting climate challenges that threaten both insurers and policyholders. The paper covers critical areas including governance, risk management, valuation practices, disclosure requirements and scenario analysis, replacing the organisation’s 2021 guidance. IAIS will support implementation through knowledge-sharing sessions, beginning with a public webinar scheduled for 28 April, as part of broader efforts to strengthen sector resilience and address natural catastrophe protection gaps. Read more here.
European Banking Authority (EBA) flags payment fraud, indebtedness, and de-risking as top consumer risks in European Union (EU) financial markets. EBA has identified the three aspects as the most significant issues affecting EU consumers in its latest biennial Consumer Trends Report. Payment fraud remains the primary concern, with criminals increasingly using social engineering techniques to circumvent strong authentication requirements. Rising indebtedness, particularly from ‘Buy-Now-Pay-Later’ schemes and short-term credit options, ranks second, whilst de-risking completes the top three issues, with vulnerable groups facing difficulties accessing basic banking services. Read more here.
Global AI financial regulation remains in early stages despite widespread interest – CGAP blog. Despite 116 jurisdictions developing national AI strategies, financial-specific regulatory guidance remains limited. Research shows varying approaches worldwide: no standard AI definition exists, cross-sectoral regulations mix binding and non-binding elements, governance models differ significantly, and only 50 jurisdictions have released finance-specific AI guidelines. Most current financial oversight relies on ethical principles, consultations, supervisory guidance and limited specialised licensing requirements. Read more here.
MENA Fintech Association creates open finance working group to drive innovation and collaboration across the Middle East and Africa’s financial services ecosystem. Co-chaired by regional experts from Ozone API and Raidiam, the initiative aims to unite regulators, financial institutions and fintech companies to advance open finance frameworks in the region. The working group, supported by a core committee of industry leaders, will focus on creating an inclusive platform for ecosystem engagement, serving as a knowledge hub, educating stakeholders on open finance benefits, and advocating for secure data practices as several countries in the region make significant strides in financial transformation. Read more here.
Kenya unveils artificial intelligence (AI) strategy for 2025-2030. Built around three core pillars — digital infrastructure, data ecosystems, and research innovation — the strategy aims to drive sustainable development and economic growth while positioning Kenya as a continental leader in AI applications. The comprehensive framework addresses crucial enablers including governance, talent development, investment acceleration, and ethical considerations, with strategic goals focused on infrastructure modernisation, localised AI model development, workforce competency building, and inclusive deployment practices. Read more here.
Finland issues artificial intelligence guidelines for public sector use. Finland has published guidelines on integrating generative AI into public administration workflows. While encouraging AI use for tasks like information gathering and draft preparation, the guidelines emphasise that public officials remain fully accountable for all decisions and documents, with stricter restrictions applying to AI involvement in processes affecting individual rights and obligations. Read more here.
Events
Alliance for Innovative Regulation (AIR), in collaboration with the West African Monetary Institute (WAMI), to host West Africa Payments & Fraud Policy Sprint on 8-9 July 2025. AIR and WAMI will hold the policy sprint in Lagos, Nigeria, focused on developing policy-driven solutions to combat fraud and enhance the safety of digital payment systems across West Africa. Regulators, central banks, fintech innovators, payment service providers, consumer protection organisations, law enforcement agencies, policymakers and others committed to improving digital payment safety are invited to apply to attend by 17 June 2025. Read more here.
Bank of England discusses its AI and data strategy. In this podcast episode, senior representatives from J.P. Morgan and the Bank of England discuss how data and AI are transforming decision-making processes at the UK’s central bank and throughout the financial sector. The conversation examines generative AI’s impact on market efficiency and financial stability, addresses the crucial balance between automated systems and human judgment, and explores the ethical considerations that will shape financial services in the future. Listen more here.
BIS Innovation Hub to host central banking technology showcase in Zurich. The innovation tour will take place on 5 May 2025 at the Gleisarena FFHS Campus in Zürich, showcasing cutting-edge central banking technologies. Participants will gain firsthand insights into projects exploring advanced data analytics and wholesale central bank money tokenisation through interactive demonstrations. The event, part of the broader Point Zero Forum running from 5-7 May, invites financial professionals to register via the official PZF website to discover how collaborative innovation is transforming central banking systems worldwide. Read more and register here.
Toronto Centre’s Certified Financial Supervisor Level 1 programme focused on crisis preparedness, scheduled for 26-30 May 2025 in Toronto. This week-long in-person course will equip financial supervisors with essential tools for financial sector surveillance, contingency planning and resolution strategies for failing institutions. Participants will develop skills in cross-border coordination with regulatory authorities and learn to manage systemic consequences of institutional failures. The programme offers valuable networking opportunities with international peers while studying key crisis management concepts according to international best practices. Read more and register here.
