The RegTech for Regulators Accelerator (R2A)

Year Started:

Year Ended:

Key Partners/Clients:
Bill & Melinda Gates Foundation, the Omidyar Network, USAID, and Rockefeller Philanthropy Advisors (fiscal sponsors)

Area of Work:
Inclusive Fintech, Policy and Regulation

Mexico, Nigeria, Philippines, Singapore

About R2A

BFA Global launched the RegTech for Regulators Accelerator (R2A) in 2016, in partnership with the Bangko Sentral ng Pilipinas (BSP), the Mexican Comisión Nacional Bancaria y de Valores (CNBV) and the Central Bank of Nigeria, to develop and test next-generation SupTech solutions. As of November 1st, 2020, R2A (now housed here) will move on from its first phase as a BFA Global-incubated program and continue its work alongside the Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge.

The R2A team partnered with leading financial sector authorities to pioneer SupTech applications for financial sector regulation, supervision, and policy analysis. The initiative’s objective was to contribute to the creation of a global SupTech marketplace where robust solutions are available and demonstrated for key use cases. With support from R2A, financial authorities could access new datasets and enhance their intelligence to establish a body of knowledge and evidence that drives financial inclusion and supports financial stability, integrity, and consumer protection.

Through R2A, partner financial authorities re-imagined how they collect and manage data, and harness technology to improve the speed, quality, and comprehensiveness of information in support of targeted, risk-based decision-making. R2A also engaged closely with technology innovators to create structured opportunities for them to propose solutions and collaborate with financial authorities in the design and testing of promising ideas.

In its next phase, R2A will become an integral part of the vast ecosystem of projects that CCAF is implementing to address emergent gaps in financial sector innovation, to support evidence-based decision-making by regulators, supervisors, policymakers, and related stakeholders.

The R2A team will continue to develop proofs of concept and SupTech solutions for financial authorities to adopt new supervisory solutions and develop strategies for their digital transformation, and to produce knowledge products to continue sharing expertise and contributing to a bespoke dialogue on the future of financial supervision.

The team will also design a SupTech module for the Cambridge FinTech and Regulatory Innovation (CFTRI) online education program, which will contribute to building capacity for regulators and supervisors at a global scale on the topic of supervisory technologies. They will seek to leverage collaborations with other parts of Cambridge under the Business School – to explore new ways to support the growth of the SupTech marketplace, for example by working closer with SupTech providers to equip them to effectively engage and partner with public sector agencies.



R2A Solutions

R2A partnered with financial authorities, technologists and data scientists to make roll out new SupTech solutions to:

  • Improve oversight and understanding of the financial marketplaces, implementing risk-based supervision.
  • Assess customer needs in data-rich environments.
  • Increase customer trust, financial well-being, and participation in the financial system
  • Develop smarter, proportional regulation.
  • Reduce compliance costs.

R2A has produced a number of proofs of concept, prototypes, and market-ready solutions to help financial authorities gather, process, store, and analyze financial data more quickly and with far greater insight than ever.

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