Efficient data reporting is main suptech driver

Resource constraints are the biggest challenge in developing a suptech strategy

The opportunities for suptech to address complex data challenges are the key motivator for central banks pursuing suptech strategies. 

Just under half of central banks participating in the Fintech Benchmarks 2022 said they have a dedicated suptech strategy, with efficient data reporting as the main element of most. Automated compliance monitoring was also a dominant part (71%), followed by market surveillance (50%) and ‘other’ elements (36%).

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