Advantages of suptech at financial institutions 2023

Published by Statista Research Department, Aug 20, 2024

Faster supervisory action is the primary advantage of suptech initiatives at financial institutions, according to a 2023 survey conducted among financial authorities. Seventy-six percent of respondents indicated that suptech initiatives lead to faster supervisory action. Additionally, the majority of respondents agreed that suptech initiatives enhance the integration of multiple data types in supervisory analysis. In terms of external benefits, 65 percent of respondents indicated that suptech initiatives enable more efficient information flows between consumers and supervisors.

Advantages of suptech initiatives at financial institutions in 2023

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Release date

February 2024

Region

Worldwide

Survey time period

August to November 2023

Number of respondents

64 respondents

Supplementary notes

The question was phrased by the source as follows: "How do the suptech initiatives enhance your supervisory process?"

Distribution of respondents:

  • Central banks: 58 percent
  • Capital market, securities, and investment instruments supervision: 19 percent
  • Other: 23 percent

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