Machine learning and NLP top regtech tools
Micro-prudential reporting and risk assessment are main regtech applications
Machine learning and natural language processing (NLP) are the most popular types of regtech tools used by central banks, though most central banks have yet to employ them.
Of the 33 respondents to the Fintech Benchmarks 2022, just over a third said their institution is deploying regtech tools.
Machine learning and NLP were used by 58% and 50% respectively of the 12 central banks using regtech. Less common was blockchain (17%) and cloud computing (17%). ‘Other’ types of regtech tools were
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