Research Project
INFINITECH: new technologies for Digital Finance
Big Data, AI and IoT technologies for the innovation of the European Financial sector.
Where: international
Where: international
Challenge
Despite growing investments in Big Data, AI, and IoT in the financial and insurance sectors, companies face challenges in harnessing the their potential. Obstacles include data "silos," where data is segregated and not easily accessible across departments or systems, the complexity of regulatory requirements, and the lack of effective testing resources.
Approach
This is why INFINITECH was created: a joint effort of global leaders from the ICT and financial sectors. The primary objective is to create innovative solutions by leveraging Big Data, IoT, and AI technologies, with a focus on enhancing regulatory compliance and encouraging new investments in the financial industry.
The project's success is demonstrated through the implementation of 14 high-impact pilots spanning various sectors: KYC (Know Your Customer), customer analytics, personalized portfolio management, credit risk assessment, preventive financial crime analysis, fraud anticipation, usage-based insurance, and more.
Digital Ecosystem
Solution
Digital Ecosystem
- Innovative Big Data and IoT technologies for seamless management of interoperable data analytics, blockchain-based data sharing, real-time analytics, and libraries of advanced AI algorithms
- Regulatory tools with data governance capabilities (e.g. anonymisation, eIDAS integration) and to facilitate compliance with regulations
- Nine new and configurable testbeds & sandboxes, each offering Open APIs
- A unique collection of finance/insurance datasets.
Engineering will lead the creation of one of the testbeds for the development of the project and will deliver a web-based framework to visualize the results of the algorithms produced within the project.
Financing Framework
Results
Lower barriers and risks for investments on new technologies
Improved products and services based on Big Data & IoT
Impacts
Technologies
Blockchain
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Unchaining (the) business.
AI & Data
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The power of big data leads services, products and processes to a higher level of "intelligence".
Internet Of Things
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From the Internet of Things to the Internet of Me: the key to data connection.
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