Project “RegTech&SupTech” is implemented within the framework of the National Recovery and Resilience Plan 2021–2026 and is financed by European Union funds through the NextGenerationEU instrument.
Business Case Title: Project Ellipse[1]
Institution (Project Lead): Bank for International Settlements and Monetary Authority of Singapore
Website: https://www.bis.org/project/ellipse
Prepared by: August Cesarec, PhD
Brief Project Description:
Project Ellipse focuses on the development and implementation of a modern digital regulatory and supervisory technology (RegTech & SupTech) solution designed to enhance the collection, processing, validation, and analysis of regulatory data. The project aims to provide supervisors with higher-quality data sources based on structured and unstructured data and real-time events, enabling the development of early warning signals and more comprehensive data analysis for supervisory purposes.
The project was implemented in two phases. The first phase explored the application of machine-executable regulatory reporting and a common data model to improve the efficiency of data collection and the availability of granular data for supervision. In the second phase, regulatory data on large exposures were integrated with unstructured data, and advanced analytical methods—including machine learning, natural language processing, and network analytics—were applied to identify interconnected risks and provide supervisory authorities with timely, real-time alerts about potential issues requiring closer supervisory attention.
The project resulted in a prototype that competent authorities can test within their own environments and use as a foundation for developing more advanced supervisory and analytical solutions.
In conclusion, Project Ellipse demonstrates how SupTech can transform supervision from a periodic and predominantly reactive process into a more timely, data-driven, and proactive model. A key takeaway from the project is that the greatest value of SupTech lies not in any individual technology, but in integrating high-quality data, automation, and advanced analytics into a unified supervisory process—from early risk signals to timely and informed supervisory decisions.
[1] When using this source, please cite it as follows: Project funded by the EU NPOO Plan 2021–2026, NextGenerationEU instrument, Call IIP-581-2025; more information available at https://regtechsuptech.net.efzg.hr/.