This project was implemented through the 'Public-Private Secondments for SupTech Innovation' initiative between the Financial Regulatory Commission Mongolia, BR-AG P.S.A. (Regnology)
The current regulatory environment for Financial Regulatory Commission Mongolia presents challenges in timely data collection, limited automation, and high resource demands for manual data validation. These limitations hinder real-time decision-making, efficient compliance, and risk detection capabilities.
FRC Mongolia and BR-AG (Regnology) have therefore initiated this collaboration under the 'Public-Private Secondments for SupTech Innovation' initiative to develop a suptech strategy that supports the agency in understanding and prioritizing suptech-related opportunities within the unique local context. The roadmap will lay out opportunities of leveraging automation, data analytics, and advanced digital tools to overcome these challenges.
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.
