The interagency Financial Sector Forum (FSF)1 recently conducted a webinar entitled Exponential Technologies and the Financial Sector, which focused on machine learning, digital technologies, distributed ledgers, blockchain, and other emerging technologies to enhance the Supervisory and Regulatory Technology (SupTech/RegTech) skills of bank supervisors.

“The FSF is committed to developing the next generation of bank supervisors equipped with knowledge and competence on SupTech/RegTech issues,” FSF Chairman and Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.

The FSF, through its Information Exchange Committee, will offer additional training programs throughout the year to facilitate in-depth understanding of technologies by financial sector supervisors.

“We leverage innovative financial technologies to effectively and efficiently fulfill our mandates and promote a sustainable, inclusive, and resilient financial system,” the Governor explained.

Speakers from the Carnegie Mellon University in Australia facilitated the conference, while participants included representatives from the BSP, the Securities and Exchange Commission (SEC), the Insurance Commission (IC), and the Philippine Deposit Insurance Corporation (PDIC).

The webinar followed a SupTech/RegTech Virtual Summit held in October 2021, which highlighted the commitment of regulators in promoting SupTech/RegTech across the financial sector.

Source: Bangko Sentral ng Pilipinas (BSP)