Project Mandala: Streamlining cross-border transaction compliance

Project Mandala uses a compliance by design approach to streamline cross-border compliance processes for financial institutions and explores real-time policy and regulatory compliance monitoring for central banks and other regulators. The project preserves the existing regulatory framework whereby it encodes existing jurisdiction-specific regulatory requirements such as sanctions screening and capital flow management (CFM) measures into the system. Moreover, it maintains the current model, in which financial institutions are responsible for interpreting and applying official regulatory measures on their own accord.

Project Mandala's overarching objective is to increase the efficiency, transparency, and speed of large-value cross-border transactions without compromising the quality and soundness of regulatory checks. The project explores a technological solution to automate compliance procedures, enhance transparency on country-specific policies, and provide real-time reporting and monitoring for regulators and supervisors.