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CSBS to launch state exam system
The Conference of State Bank Supervisors (CSBS) has announced the nationwide roll-out of the State Examination System (SES), the first nationwide platform to bring state regulators and companies into the same technology space for supervision, fostering greater transparency and collaboration. Through SES, state regulators will be able to enhance supervisory oversight of fintechs and other nonbanks while making the process more efficient for regulators and companies alike.
SES is developed and operated by the State Regulatory Register (SRR), a SCBS subsidiary that also operates the Nationwide Multistate Licensing System (NMLS). SES is designed to:
- Support networked supervision among state regulators
- Standardize workflow, business rules and technology across states
- Facilitate secure collaboration between licensees and their regulators
- Help examiners focus more attention on higher-risk cases
- Move state supervision towards more multistate exams and fewer single-state efforts