Cœuré warns ‘analogue’ supervisors must adapt to digital world
BIS official says growth of fintech demands supervisors respond with technology of their own
Supervisors continue to rely heavily on “analogue tools” despite the growing digitisation of finance, Benoît Cœuré warned on October 7.
Many supervisors’ workflows were still “heavily manual”, the head of the Bank for International Settlements innovation hub said. “Data collection typically involves reports submitted by paper or email, with file size restrictions and operational and security risks,” he said in remarks to a conference in Geneva.
The data that supervisors receive is often as
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