Hi SupTech Community,
Welcome to the 38th 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, Bangko Sentral ng Pilipinas, Global Government Fintech, Hong Kong Monetary Authority, Monetary Authority of Singapore, Toronto Centre, and others.
Suptech Innovations
Australian Securities and Investments Commission (ASIC) launches new licensing portal. ASIC’s new digital portal, integrated within its existing Regulatory Portal, streamlines Australian financial services (AFS) licence applications from 5 May 2025. The modernised system offers automatic pre-filling of details, eliminates separate documentation uploads, and allows more granular selection of financial products and services while maintaining core information requirements. The existing eLicensing system will remain operational during the gradual transition period, with this development marking a significant milestone in ASIC’s broader RegistryConnect programme to deliver more reliable, secure and efficient registry services supporting Australia’s economy. Read more here.
Jersey Financial Services Commission’s artificial intelligence (AI) chatbot Reggie enhances regulatory guidance. Launched in beta in October 2024, Reggie now offers self-service guidance on complex requirements, leveraging generative AI to address specific enquiries. Drawing from codes of practice and anti-money laundering handbooks, Reggie delivers tailored assistance to compliance professionals seeking precise information and individuals requiring simplified explanations. The chatbot serves as a complementary resource rather than replacing regulatory obligations. Read more here.
Central Banking & Technology
Bank for International Settlements (BIS) publishes findings from Project Promissa, a collaboration with the Swiss National Bank and the World Bank to tokenise multilateral development banks’ (MDBs) promissory notes. The project developed a proof-of-concept (POC) platform using distributed ledger technology (DLT) to digitise these traditionally paper-based instruments, which track countries’ long-term financial commitments to MDBs. The system automates issuance, tracking, and payment processes, reducing reconciliation burdens and operational inefficiencies. Tested by seven countries and deemed technically feasible, it delivers cost savings, enhanced transparency and a secure multiparty environment while maintaining control and confidentiality. Read more here.
Suptech vendor, Regnology, secures Gates Foundation grant to enhance financial consumer protection in low and middle-income countries (LMICs). The grant will extend the capabilities of Regnology’s Supervisory Hub to enable regulators to collect more granular, near-real-time data from digital financial services (DFS) providers and leverage advanced analytics to identify and mitigate consumer risks. This initiative addresses growing risks of fraud, data misuse and hidden charges affecting newly banked populations across developing markets. The upgraded platform will be cost-effective, scalable, and configurable, supporting LMIC regulators in promoting transparency, trust, and broader financial inclusion. Read more here.
BIS Analytics challenge spotlights FNA’s privacy-enhanced fraud detection innovation. The BIS has shortlisted FNA’s zero-knowledge proof solution for enabling cross-bank fraud tracking without compromising privacy. Unlike homomorphic encryption or secure multi-party computation approaches, FNA’s technology processes billions of transactions with millisecond responses while protecting personal data. Already operational within Malaysia’s National Fraud Portal, developed with Paynet and Bank Negara Malaysia, the system traces, freezes and recovers fraudulent funds across institutions while maintaining regulatory compliance. Read more here.
Philippines Central Bank launches mobile app to expand public access. The Bangko Sentral ng Pilipinas (BSP) has unveiled ‘BSP Mobile’, a new application making financial information and services more accessible to Filipinos and investors. Designed in-house and available on major app stores, the app enables users to check key rates, locate coin-deposit machines or BSP offices, file complaints through BOB chatbot, and access news and advisories. Described as a way of “staying connected with the public,” the initiative supports the Central Bank’s broader digital strategy, which includes cashless payment programmes and a wholesale central bank digital currency POC. Read more here.
Hong Kong Monetary Authority (HKMA) launches tender to build payment data analytics platform. The HKMA has issued a tender invitation for services to design and build a multi-bank Payment data analytics platform aimed at mitigating financial crime risks. The platform, expected to be operational from September 2025, represents a significant step in Hong Kong’s financial crime prevention strategy. Interested parties must submit their proposals via two separate emails, one containing the technical proposal and another with the fee proposal, by 30 June 2025. The tender document in the form of an electronic copy will be provided via email upon request. Read more here.
Abu Dhabi Global Market (ADGM) financial regulator publishes business plan focusing on regulation and innovation. The Financial Services Regulatory Authority (FSRA) of ADGM has released its 2025-2026 Business Plan, which prioritises global regulatory alignment, financial crime prevention, operational resilience, responsible innovation, and sustainable finance. The plan specifically highlights the expansion of suptech and regtech capabilities to champion responsible innovation. It reinforces FSRA’s commitment to risk-sensitive, progressive regulation and advancing the country’s economic and climate goals, while strengthening international collaboration and technological capabilities. Read more here.
Project Meridian FX proves cross-border settlement interoperability. The BIS and major European Central Banks have successfully demonstrated wholesale payment infrastructure interoperability via Project Meridian FX. The initiative used DLT to synchronise foreign exchange settlements, implementing payment-versus-payment mechanisms that ensure simultaneous completion of both sides of currency transactions across different jurisdictions. By connecting the United Kingdom real-time gross settlement (RTGS) system with three eurosystem solutions, the project proved that synchronisation works regardless of asset type or ledger technology, advancing the G20 cross-border payments roadmap. Read more here.
HKMA unveils strategic green priorities for 2025 and beyond. The HKMA outlined its Sustainable Finance Action Agenda in 2024 to strengthen the region’s position as Asia’s green finance hub. For 2025, the HKMA will conduct climate risk examinations of banks, integrate climate stress testing into supervisory frameworks, and expand its taxonomy for sustainable finance with transition elements. The Authority has committed to net-zero emissions for its Exchange Fund investments by 2050 while enhancing sustainability practices across its operations, aiming to fortify Hong Kong’s financial system against climate risks while supporting the broader region’s transition to a sustainable economy. Read more here.
Central Banks cautious but committed in AI adoption. A new Irving Fisher Committee survey reveals central banks are eagerly adopting artificial intelligence (AI) technologies while grappling with implementation challenges. While many institutions actively experiment with generative AI for economic research and data analytics, most remain in early adoption phases with decentralised deployment creating coordination difficulties. Key concerns include privacy protection, cybersecurity, skills shortage, and ethical biases. Success ultimately hinges on fundamental improvements to data management practices, with institutions balancing cloud versus on-premises infrastructure and proprietary versus open-source models to maximise AI’s potential benefits. Read more here.
Central Banks face critical AI talent shortfall amid digital transformation. New BIS Bulletin reveals 90% of surveyed central banks struggle to recruit and retain AI specialists, with institutions caught between private sector salary competition and regulatory hiring constraints. As central banks navigate between “AI copilots” that augment human skills and “AI agents” that automate specific functions, success will require comprehensive talent strategies leveraging their unique strengths, exclusive data access and meaningful work, while implementing robust upskilling programmes and fostering innovation cultures within traditionally cautious organisations. Read more here.
Central Bank Digital Currencies (CBDCs) key to financial tokenisation progress, World Federation of Exchanges (WFE) reports. The WFE has issued a policy paper identifying CBDCs as potential catalysts for financial market tokenisation, contingent on adequate investment and regulatory updates. The paper highlights that CBDCs would provide a new form of central bank money that eliminates credit and liquidity risks associated with commercial alternatives, offering crucial confidence for tokenised asset trading, while acknowledging significant implementation challenges including infrastructure costs, legal framework updates, and cross-border regulatory harmonisation. Read more here.
United Kingdom (UK) unveils draft cryptoasset legislation. Announced by Chancellor Rachel Reeves at the Innovate Finance Global Summit, the framework will bring crypto exchanges, custody services, and related activities within the regulatory perimeter, requiring them to meet standards comparable to traditional financial institutions. This initiative responds to growing cryptocurrency adoption, where ownership among UK adults has tripled to 12% since 2021, and aims to support innovation while protecting consumers from risky operators. The legislation positions Britain competitively against the European Union’s already-implemented Markets in Crypto-Assets regulation and aligns with recent US initiatives. Final legislation is planned for later this year following a consultation period ending 23 May. Read more here.
Nigeria is poised to become the first African country to implement an open banking framework, with rollout scheduled for August 2025. The initiative, approved by the Central Bank of Nigeria (CBN), will enable customers to share their financial data securely with regulated financial institutions via application programming interfaces. A central registry and consent management system will ensure data privacy and user control over information access. The governance model has been revised to include independent oversight committees. The move is expected to improve credit scoring, financial inclusion, and foster innovation across financial services. Read more here.
The Federal Reserve has lifted supervisory requirements for banks involved in cryptocurrency investments. This aligns with a shift towards crypto-friendly policies under President Donald Trump. On April 24, the Fed rescinded directives from August 2022 and August 2023, which required banks to seek approval before engaging in crypto activities. This decision allows financial institutions to operate with greater flexibility in the crypto space, without prior regulatory approval. The move also reflects a broader regulatory shift aimed at fostering innovation in the financial sector. Read more here.
Events
Toronto Centre, in partnership with South African Reserve Bank, to deliver a five-day regional cross-border and consolidated supervision program in Cape Town from 2-6 June 2025. The highly interactive training is designed for middle or senior-level bank supervisors and regulators seeking practical approaches to cross-border consolidated supervision beyond theoretical concepts. Participants will explore supervision across national borders and sectoral boundaries, measures for normal and stressed conditions, and develop soft skills in communication and stakeholder management. The programme will employ case studies to provide hands-on learning for supervisory professionals. Read more and register here.
Alliance for Innovative Regulation (AIR) to host a four-day immersive training experience for financial regulators in London during autumn 2025. The “Innovation Elements” programme invites regulatory teams of four participants to develop innovation capabilities through AIR’s proprietary framework focusing on culture, mindset and practical implementation rather than solely technology. The cohort-based experience costs $20,000 per organisation and combines design thinking activities, case studies and site visits. Applications opened mid-April with a 30th May deadline, targeting diverse, cross-functional regulatory teams seeking to enhance their innovation capacity in an increasingly complex financial landscape. Read more and register here.
Singapore financial regulator outlines technology resilience strategies. The Monetary Authority of Singapore has issued key recommendations from its Cyber and Technology Resilience Experts Panel meeting held on 16 April 2025. The panel advocated for service-centric operational resilience with unscripted disaster recovery drills, comprehensive third-party software risk assessments, preparation for quantum computing security threats, and enhanced anti-scam measures utilising AI. The expert group, formed in August 2024, engaged financial industry professionals through a joint seminar with the Association of Banks in Singapore. Read more here.
Three Alliance for Financial Inclusion (AFI) working groups explore financial inclusion synergies at Seychelles Summit. The joint meeting convened 131 participants from 59 member institutions in Victoria, Seychelles, who discussed financial inclusion data and impact, inclusive green finance, and SME Finance. Co-hosted by the Central Bank of Seychelles, the gathering explored vital connections between data analytics, regulatory frameworks and sustainable finance solutions. Senior representatives emphasised the opportunity to build more inclusive economies serving vulnerable populations, while highlighting how environmentally responsible MSME financing supports both climate objectives and economic development. The event featured presentations on Seychelles’ financial inclusion initiatives and discussions on measuring green taxonomy impacts through robust data frameworks. Read more here.
