We have a unique convening power to shape the direction of innovation, both in technology and where wider issues persist in the market. A key element of our innovation toolkit that's enabled us to achieve this is the TechSprint.
TechSprints are events that bring together participants from across and outside of financial services to develop technology-based ideas or proof of concepts to address specific industry challenges. These events help us to shine a light on issues and expand the discussion and awareness of potential solutions.
Sustainability TechSprint – October 2021
From 18 to 21 October 2021, we will run a Sustainability TechSprint aimed at promoting new solutions and proof of concepts to some of the challenges faced by regulators in the area of environmental, social, and governance (ESG) data and disclosure.
The use of technology by regulators to gain insights and better monitor financial markets is an increasingly fundamental part of the regulatory ‘toolkit’. We are keen to explore the potential for technology to accelerate innovation and new solutions to the following challenges:
- How can technology enable regulators to verify that ESG disclosures by both listed companies and regulated financial services firms are accurate and complete?
- How can technology be better deployed by regulators to generate insights from ESG disclosures and other unstructured data sources to understand how regulated firms and listed issuers are approaching the transition to a more sustainable future, and to help determine any further regulatory intervention that is required?
- How can technology be used to support regulators in tracking and verifying regulated firms’ and listed issuers’ claims regarding the net-zero targets they are pursuing in their products, services and wider operations?
- How can technology help regulators determine the key areas and data points to consider as part of their methodology for designing a robust, reliable and accurate sustainable investment label, so that consumers can better understand their choices and compare the ESG characteristics of different financial products/providers?
How to get involved
This is our first TechSprint with a supervisory technology (SupTech) focus. We see this as an excellent opportunity for firms from across the financial services ecosystem, academia, technology, innovators and start-ups to work with us, and other international regulators, to develop solutions to shared challenges.
If you are interested in being involved please contact us at [email protected].
Evolution of TechSprints
On 3 March 2020, we published research exploring the lessons we've learned from hosting 7 TechSprints across a range of subjects. As part of our commitment to foster innovative and collaborative global financial markets, we want to share our experience and support other organisations in their efforts to address key industry problems.
Since 2016, we’ve hosted the following TechSprints. Read about our previous events:
- Consumer access, April 2016
- Unlocking regulatory reporting, November 2016
- Financial services and mental health, March 2017
- Model driven machine executable regulatory reporting, November 2017
- Anti-money laundering and financial crime, May 2018
- Pensions, November 2018
- Anti-money laundering and financial crime, July-August 2019
- Women's Economic Empowerment, March 2021
03/03/2020: Information added Publication of 'Fostering innovation through collaboration' research paper