Machine Readable Versions of Guidelines and other Regulatory Requirements

Bank of Mauritius identfied several problem statements including:

• Processes to revise and update regulations, guidance and standards are time consuming and impact on accuracy.

• Firms can find it hard to understand or contextualise rules and embed them into their working practices.

• Authoritative information is locked up in PDFs and is difficult to access, manage and navigate.

• Regulators have limited time, expertise and solutions to solve these problems.

Through the 'Public-Private Secondments for SupTech Innovation' initiative TSO developed a PoC to test whether machine readable versions of guidelines and regulatory requirements are likely to improve the supervision of firms within Mauritian financial services.

The proposed solution was to deploy a SaaS-style web-based suite of components which perform the following tasks:

• Ingestion of existing content (typically sourced from PDF documents)

• Transformation of the input format to JSON

• The ability to view, edit and publish the digitised content

• Output of digitised content in HTML, JSO and PDF

The Public-Private Secondments for SupTech Innovation initiative pairs highly trained experts from the private sector with financial authorities around the world for short-term, remote and in-person secondments that accelerate the digital transformation of financial supervision, leading to a more efficient, safer and sounder global financial system.