R²A Managing Director Simone di Castri spoke with Global Risk Regulator about how the initiative is working with supervisors to realize the value of cutting edge technologies using proofs of concept.
“We are trying to create a comfort zone for supervisors,” he said. “The Mexican regulator, the Comisión Nacional Bancaria y de Valores, is planning to open the market to approximately 70 new firms, but their supervisory capacity will not grow in proportion. So how will the anti-money laundering [AML] supervisors handle this increase in workload? We think the only way for any supervisor to deal with this issue is to leverage technology in order to change the way they work and augment their capacity.”