BoG adopts integrated risk-based supervisory approach for digital financial services
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BoG adopts integrated risk-based supervisory approach for digital financial services


Summary short_text

In particular, she explained, approvals of products, services, and technology outsourcing arrangements proposed by banks and non-banks or FinTechs are reviewed in a holistic manner by relevant Departments from various perspectives including prudential, market conduct, financial integrity, and payment systems risk perspectives.

The use of Suptech to automate data collection and analytics on a disaggregated basis first which was introduced in 2018 for electronic money issuers, has more recently been augmented under the artificial intelligence-powered Online Regulatory and Analytics Surveillance System to cover all banks and other licensed financial services providers under the Bank of Ghana's regulatory perimeter, she explained.


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