State of SupTech Report 2023

164 Pages Posted: 29 Feb 2024 Last revised: 12 Apr 2024

See all articles by Simone di Castri

Simone di Castri

Cambridge SupTech Lab - University of Cambridge; University of Cambridge - Cambridge Centre for Alternative Finance

Matt Grasser

Cambridge SupTech Lab - University of Cambridge; BFA; University of Cambridge - Cambridge Centre for Alternative Finance

Juliet Ongwae

Independent; University of Cambridge - Cambridge Centre for Alternative Finance

Date Written: December 28, 2023

Abstract

The Cambridge SupTech Lab’s State of SupTech Report 2023 presents insights on the evolution and current state of the digital transformation of financial supervision worldwide. The Report provides a global snapshot across several facets of supervisory technology, including underpinning digital infrastructure and technologies, supported supervisory use cases, approaches employed for developing and deploying suptech applications, the related challenges and risks, and the benefits gained by suptech adoption.

The State of SupTech Report 2023 focuses on how the development and implementation of financial suptech is evolving across the globe, extracting insights from the information provided by 64 financial authorities such as central banks, securities and capital market authorities, financial conduct authorities, and insurance supervisors from six continents.  The survey responses boast a robust and geographically diverse representation of financial authorities, representing financial sector oversight for a significant population of approximately 2 billion people.

This year’s survey leverages the State of SupTech 2022 Report as a baseline to provide a picture of emerging trends, persisting and new challenges, maturing strategies, and attained impacts. Compared to last year, the 2023 survey included five times more questions, allowing for a substantially more detailed and expansive analysis.

Keywords: SupTech, Supervisory Technologies, Central Banking, Financial Supervision, Financial Regulation, Financial Services, Fintech, Digital Transformation, Securities, Digital Assets, Prudential Supervision, Fintech, Regtech, Compliance, AML, Machine Learning, Big Data

JEL Classification: D23, G38, K22, L22, M15, O16

Suggested Citation

di Castri, Simone and Grasser, Matt and Ongwae, Juliet, State of SupTech Report 2023 (December 28, 2023). Available at SSRN: https://ssrn.com/abstract=4742165

Simone Di Castri (Contact Author)

Cambridge SupTech Lab - University of Cambridge ( email )

NY
United Kingdom

University of Cambridge - Cambridge Centre for Alternative Finance ( email )

Matt Grasser

Cambridge SupTech Lab - University of Cambridge ( email )

NYC
United Kingdom

HOME PAGE: http://cambridgesuptechlab.org

BFA ( email )

259 Elm Street, Suite 200
Somerville, MA 02144
United States

University of Cambridge - Cambridge Centre for Alternative Finance ( email )

Juliet Ongwae

Independent ( email )

University of Cambridge - Cambridge Centre for Alternative Finance ( email )

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