Innovation Accelerator
We exist to…
Actively advance innovation and new ways of working
Innovation Accelerator initiatives
Financial Markets Innovation
Financial Markets Innovation
This initiative seeks to collaboratively explore the policy and regulatory implications of financial and economic innovation, driven by technologies such as distributed ledgers, which may contribute to the resilience and development of the financial system in South Africa.
Read about Project Khokha our trial of a distributed ledger technology-based wholesale payment system here.
Crypto Assets
Crypto Assets
The crypto assets market has experienced significant interest from various stakeholders including regulatory authorities. The objective of this initiative is to develop a revised jurisdictional policy position on crypto assets that will assist in the development of a comprehensive regulatory framework.
Read our latest IFWG CAR Working Group Position Paper on Crypto Assets here.
Watch Hub Talks Ep01: Crypto Assets Position Paper with Anrich Daseman here.
Fintech Scoping in South Africa
Fintech Scoping in South Africa
The objective of this initiative is to develop a public digital database of fintech firms in South Africa. This database will enable fintech firms to update their information and provide the broader market with access to a current inventory of fintech firms in the country.
Read the October 2019 Fintech Scoping in South Africa Report here.
BigTech in Fintech
BigTech in Fintech
Large technology companies are rapidly introducing financial products and services. The objective of this initiative is to gain a deeper understanding of BigTech activities in the domestic and global market, assess the impact on the financial system and review the existing regulatory framework to assess if it sufficiently covers the risk and implications.
Watch Hub Talks Ep 04: BigTech in Fintech with Jon Frost and Joseph Noss here.
Check out this infographic on BigTech in Fintech here.
Digital Platforms
Digital Platforms
Regtech and Suptech
Regtech and Suptech
The objective of this initiative is to gain a deeper understanding of regulatory and supervisory technologies (regtech and suptech).
To do this, research will be conducted on local and global regtech and suptech offerings and practices and recommendations will be drafted to enable implementation of leading regtech and suptech practices in South Africa.
Non-traditional Data
Non-traditional Data
The objective of this initiative is to better understand leading practices regarding the use of non-traditional data (e.g., mobile phone data, etc.) in the provision of financial services.
Based on these learnings, we will develop a position to enable the implementation of a regulatory framework, guidance, or standards on the use of non-traditional data in financial services in South Africa.
Open Finance
IFWG Paper on articulating the policy rationale and policy imperatives for Open Finance in South Africa
The aim of this initiative is for the IFWG members to consolidate views and share information on their respective activities related to open banking. The IFWG Open Finance Integration Working Group has been established to collaborate on unpacking the policy and regulatory implications of open finance in South Africa and serve as a mechanism to ensure alignment between the different regulators. Read More
