A Roadmap to SupTech Solutions for Low Income (IDA) Countries

A Roadmap to SupTech Solutions for Low Income (IDA) Countries

The digitalization and development of new financial products accelerated by Coronavirus 2019 (COVID-19) crisis will transform drastically the financial sector of all countries in the following years. Consequently, this will also lead to the transfo...

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Bibliographic Details
Main Author: World Bank
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2020
Subjects:
FINANCIAL TECHNOLOGY
IDA COUNTRIES
LOW-INCOME COUNTRIES
AUTOMATED DATA REPORTING
CREDIT RISK ASSESSMENT
WORKFLOW MANAGEMENT
DATA QUALITY
Online Access:http://documents.worldbank.org/curated/en/108411602047902677/A-Roadmap-to-SupTech-Solutions-for-Low-Income-IDA-Countries
http://hdl.handle.net/10986/34662
id okr-10986-34662
recordtype oai_dc
spelling okr-10986-346622021-05-25T09:51:32Z A Roadmap to SupTech Solutions for Low Income (IDA) Countries World Bank FINANCIAL TECHNOLOGY IDA COUNTRIES LOW-INCOME COUNTRIES AUTOMATED DATA REPORTING CREDIT RISK ASSESSMENT WORKFLOW MANAGEMENT DATA QUALITY The digitalization and development of new financial products accelerated by Coronavirus 2019 (COVID-19) crisis will transform drastically the financial sector of all countries in the following years. Consequently, this will also lead to the transformation of supervisory processes, which can be greatly benefit from the support of supervisory technology (SupTech) tools. Even though there is a great potential for SupTech tools to support and enhance the supervisory processes, many supervisors are still struggling to find the right balance between functionalities, costs, and implementation approaches of SupTech tools. To support financial sector supervisors, forge their understanding and provide practical information on how to implement SupTech tools, this paper provides a step-by-step guide and use cases. The paper presents the main challenges faced by the supervisory authorities, provides different governance models used globally, and guidelines for the development of the SupTech strategy and its implementation for prudential and anti-money laundering and combating the financing of terrorism (AML and CFT) use cases. 2020-10-27T13:37:14Z 2020-10-27T13:37:14Z 2020-10-07 Working Paper http://documents.worldbank.org/curated/en/108411602047902677/A-Roadmap-to-SupTech-Solutions-for-Low-Income-IDA-Countries http://hdl.handle.net/10986/34662 English Fintech Note;No. 7 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic FINANCIAL TECHNOLOGY
IDA COUNTRIES
LOW-INCOME COUNTRIES
AUTOMATED DATA REPORTING
CREDIT RISK ASSESSMENT
WORKFLOW MANAGEMENT
DATA QUALITY
spellingShingle FINANCIAL TECHNOLOGY
IDA COUNTRIES
LOW-INCOME COUNTRIES
AUTOMATED DATA REPORTING
CREDIT RISK ASSESSMENT
WORKFLOW MANAGEMENT
DATA QUALITY
World Bank
A Roadmap to SupTech Solutions for Low Income (IDA) Countries
relation Fintech Note;No. 7
description The digitalization and development of new financial products accelerated by Coronavirus 2019 (COVID-19) crisis will transform drastically the financial sector of all countries in the following years. Consequently, this will also lead to the transformation of supervisory processes, which can be greatly benefit from the support of supervisory technology (SupTech) tools. Even though there is a great potential for SupTech tools to support and enhance the supervisory processes, many supervisors are still struggling to find the right balance between functionalities, costs, and implementation approaches of SupTech tools. To support financial sector supervisors, forge their understanding and provide practical information on how to implement SupTech tools, this paper provides a step-by-step guide and use cases. The paper presents the main challenges faced by the supervisory authorities, provides different governance models used globally, and guidelines for the development of the SupTech strategy and its implementation for prudential and anti-money laundering and combating the financing of terrorism (AML and CFT) use cases.
format Working Paper
author World Bank
author_facet World Bank
author_sort World Bank
title A Roadmap to SupTech Solutions for Low Income (IDA) Countries
title_short A Roadmap to SupTech Solutions for Low Income (IDA) Countries
title_full A Roadmap to SupTech Solutions for Low Income (IDA) Countries
title_fullStr A Roadmap to SupTech Solutions for Low Income (IDA) Countries
title_full_unstemmed A Roadmap to SupTech Solutions for Low Income (IDA) Countries
title_sort roadmap to suptech solutions for low income (ida) countries
publisher World Bank, Washington, DC
publishDate 2020
url http://documents.worldbank.org/curated/en/108411602047902677/A-Roadmap-to-SupTech-Solutions-for-Low-Income-IDA-Countries
http://hdl.handle.net/10986/34662
_version_ 1764481380915347456

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