RegTech applies to new technologies developed to help overcome regulatory challenges in financial services.
Our aim is to encourage the development of these technologies, as they could benefit consumers and the wider industry.
We have met with a number of start-ups, incumbent institutions, technology providers and academics to see the impact RegTech could have. This helped us to understand where we should focus our efforts. We also began to develop and test a number of activities and ideas based on what we learnt.
Digital sandbox pilot: Application window open
We are collaborating with The City of London Corporation to pilot a ‘digital sandbox’. This new service will provide enhanced support to innovative firms tackling challenges caused by the coronavirus (Covid-19) pandemic. Find out more
Applications are now open and close on 30 October, please visit the digital sandbox website to apply.
Our approach to RegTech
In 2015 we issued a Call for Input to find out more about how we could support the adoption and development of RegTech.
People working in the industry told us about the different types of RegTech and how it’s used.
They also gave us feedback about what our role could be, and told us about the challenges for innovation and its adoption.
We’ve developed a number of work programmes to help face these challenges.
Digital Regulatory Reporting
We have been working with the Bank of England and various organisations on a pilot to explore how technology can improve the way that firms submit regulatory returns. We have published the Viability Assessment on digital regulatory reporting that provides an overview of the work and findings so far. If you are interested in discussing the technical aspects of this paper in more detail, please contact us at [email protected]
Engage with us
Find out more about how you can get involved with our work programme and how you can engage with us further on RegTech.