The South African Reserve Bank published a keynote address by Deputy Governor Mampho Modise for the launch of the Bank for International Settlements’ 2025 G20 TechSprint, inviting global innovators to develop solutions that support trust and integrity in scalable and open finance. The speech framed TechSprints and regulatory “innovation facilitators” as tools for regulators to understand emerging technologies and balance innovation with safeguards for financial stability, including cyber and systemic risk considerations. The address highlighted the role of innovation hubs and sandbox environments in providing regulatory clarity and enabling supervised testing of new products and business models, and referenced the principle of “same activity, same risk, same regulation” alongside central bank provision of “middle mile” infrastructure. It set out three TechSprint problem statements: verifiable, privacy-preserving digital identity solutions; consumer-consented and secure credit data exchange; and technology solutions to mitigate fraud and cyber risk in fast payment systems.
South African Reserve Bank 2025-05-06
South African Reserve Bank and Bank for International Settlements launch 2025 G20 TechSprint challenge on digital identity, credit data sharing and payment fraud
Deputy Governor Mampho Modise of the South African Reserve Bank urged global innovators at the launch of the Bank for International Settlements’ 2025 G20 TechSprint to develop solutions for trust and integrity in open finance. The address emphasized balancing technological innovation with financial stability through TechSprints and innovation facilitators, highlighting regulatory clarity and supervised testing. It outlined three TechSprint challenges: digital identity solutions, secure credit data exchange, and fraud mitigation in fast payment systems.