The Financial Stability Board (FSB) recently published a report on the use of supervisory (SupTech) and regulatory (RegTech) technology by FSB members and regulated institutions. The report finds that technology and innovation are transforming the global financial landscape, presenting opportunities, risks, and challenges for regulated institutions and authorities alike. The opportunities offered by SupTech and RegTech have been created by the substantial increase in availability and granularity of data and new infrastructures such as cloud computing and application programming interfaces. These allow large data sets to be collected, stored, and analyzed more efficiently. Authorities and regulated institutions have both turned to these technologies to help them manage the increased regulatory requirements that were put in place after the 2008 financial crisis. Read more