R2A Trials Data Warehouse For Mexico’s CNBV to Boost the Fight Against Money Laundering

R2A teamed up with local tech vendor Gestell to create a data warehousing platform, fed by application programming interfaces (or APIs) that deliver the necessary transactions and compliance data directly from the supervised institutions. This approach increases the volume, granularity, and frequency – and improves the quality – of AML-related data submitted to CNBV. Its staff can import historical records into the central data storage platform and then use these combined data sets to improve AML-related data validation and analysis and generate customized reports for improved supervision and policy developments.

CNBV staff can now focus their energies on supervision and analysis rather than tedious data validation. By improving data quality and access and developing new tools for data visualization and analysis, the project will support CNBV’s drive to pursue a risk-based AML supervisory approach that reduces compliance costs and promotes financial inclusion while ensuring financial integrity.

The partnership between R2A and CNBV on the data warehouse prototype shows the potential for a new kind of RegTech for Regulators (RegTech2) that can gather, process, store, and help analyze financial data more quickly and with far greater insight than ever. RegTech2 approaches utilizing chatbots, artificial intelligence (AI), machine learning (ML), APIs, and “data stacks” represent the next generation of tools for regulators and supervisors in their mission to protect financial systems and the public.