Project description
Enhancing the competitiveness of the European FinTech sector
Financial technology (FinTech) solutions that employ Big Data analytics, artificial intelligence and blockchain technologies are being introduced into the financial industry at an extraordinary rate. While they provide FinTech companies with ample opportunities, they also invite many challenges, such as cyberattacks, contagion risks and compliance concerns, which are of key interest to regulators and supervisory bodies. The EU-funded FIN-TECH project aims to create a European training programme that offers shared risk management use cases that can be proposed to automatise compliance of FinTech companies, and to increase the efficiency of supervisory activities. In a nutshell, the project aims at boosting the European FinTech ecosystem by delivering standardised procedures for FinTech risk management.
Objective
"Financial Technology (Fin Tech) means ""Technology enabled financial innovations"". There is a strong need to improve the competitiveness of the European Fin Tech sector, creating a common regulatory field across all countries which, while encouraging innovations in Big Data analytics, Artificial Intelligence, and Blockchain technologies, can correctly measure their risks. Europe is a broad mosaic of regulatory landscapes. Policy makers and regulators must move quickly to establish a new regulatory framework for emerging fintechs, without stifling their economic potential.
The FIN-TECH project, under the EU's Horizon2020 funding scheme, aims to create a European training programme, aimed at providing shared risk management solutions that automatize compliance of Fintech companies (RegTech) and, at the same time, increases the efficiency of supervisory activities (SupTech). In other words, we aim at connecting FINancial supervision with TECHnological compliance, from which the acronym of the project: FIN-TECH.
The project programme will be built jointly by 24 university and fntech partners that are established experts in fintech risk management, that will share knowledge with with regulators, supervisors and fintech associations and hubs from all 28 European Union countries, plus Switzerland.
The goals of the project will be achieved through research activity in risk management models for Big data analytics, AI and Blockchain applications to finance, discussed in three different research workshops; two levels of knowledge exchange sessions: a training level, run at the location of the involved supervisor in each of the 29 countries, to achieve uniformity across Europe; a coding level, centralised at the location of six different fintech hubs. The project will be simultaneously disseminated and validated through a dedicated web site, social network activity, users feedback and validation by established bank, insurance and investment funds.
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Fields of science
Programme(s)
Funding Scheme
CSA - Coordination and support actionCoordinator
27100 Pavia
Italy
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Participants (23)
10117 Berlin
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8401 Winterthur
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WC1E 6BT London
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010374 Bucuresti
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34149 Trieste
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
61440 Oberursel
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
176 71 Kallithea Athina
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4200 465 Porto
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75231 Paris
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20133 Milano
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4 Dublin
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4365 ESCH-SUR-ALZETTE
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1000 Ljubljana
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00-927 WARSZAWA
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51000 Rijeka
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28040 Madrid
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85235 Bratislava
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LT-44029 Kaunas
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601 77 Brno
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
Participation ended
1831 MACHELEN
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9002 VARNA
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33100 Tampere
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1020 Wien
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