Press release: DNB's supervision: focus on data and digitisation

Press release
Date 22 January 2020

De Nederlandsche Bank (DNB) will adopt a more data-driven approach and focus on the use of digital technologies in its supervision. In 2020 we will strengthen our cooperation with the sector in order to build on our knowledge of the impact and opportunities of technological innovations. We will do so in the Innovation Forum (iForum), a joint partnership of banks, insurers, pension funds and payment institutions. The iForum was launched at the end of 2019.

Our Supervision Outlook 2020 which is published today, further explains this initiative. The Supervision Outlook describes our supervisory priorities for the year ahead, with respect to both prudential and integrity supervision. In 2020, we will be focusing specifically on data quality, management and use.

New technologies

Digitisation and new technologies such as artificial intelligence (AI) enable new products and services. Both new and established parties will have to prepare themselves to respond adequately to a rapidly developing digital world. In this dynamic environment, institutions should give first priority to the security, governance and quality of data.

The future of the banking sector

In addition to our Supervision Outlook 2020, we are also publishing our study “Building trust through change”(see DNBulletin), about the future of the banking sector. The market is becoming increasingly more challenging with the advent of new parties and the dawn of the data age.

New supervisory methodology

In response to these developments we are in the process of transforming into a “smart supervisor". In line with our Digital Strategy, we aim to fully utilise our technological opportunities by automatising routine tasks where possible and by adopting a data-driven approach as part of our new supervisory methodology.

Integrity and sustainability in the financial sector

The Supervision Outlook also stresses that combating financial and economic crime continues to play a key role in our supervision. Integrity is a crucial precondition for trust in the financial sector and the eyes of society are on our efforts to combat money laundering. This year, we will start our supervision of crypto institutions under the anti-money laundering directive (AMLD5).

Sustainability is one of our other key priorities for 2020. We have anchored identification and control of climate risks to a large degree in our supervision of banks, insurers and pension funds. In 2020, we will assess the extent to which banks take climate-related risks into account in their internal risk assessment.

End of press release

For more information, please contact Tobias Oudejans by telephone at +31 20 5243100 or +31 6 524 96 961).