R2A, a global RegTech prototyping lab designed for financial authorities such as central banks, rolls out partnership in Ghana, Mexico and Philippines to better serve the needs of all consumers
WASHINGTON, D.C., April 20, 2017–The RegTech for Regulators Accelerator (R2A), a first initiative to deploy RegTech innovations by working directly with financial supervisors, regulators and policymakers, today announced its three partners. The central banks Bangko Sentral ng Pilipinas (BSP) in the Philippines and Bank of Ghana (BoG) as well as the regulator and financial supervisor, the Comisión Nacional Bancaria y de Valores (CNBV) in Mexico are collaborating closely with R2A through July 2018 to prototype new RegTech solutions with software developers and data architects.
Until now, RegTech has typically catered to the private sector and compliance. RegTech is the application of existing and new technologies to improve the efficiency and efficacy of regulatory compliance and oversight. Now with R2A, some of the most forward-looking financial authorities from emerging economies are driving what the future of supervision, regulation and policymaking could look like in the US and the rest of the world.