ECB Holds Supervisory Data Hackathon
The European Central Bank (ECB), in collaboration with Reply, leader in digital technology innovation, is organising the “Supervisory Data Hackathon”, a coding marathon focussing on the application of Machine Learning and Artificial Intelligence.
From 27 to 29 February 2020, at the ECB in Frankfurt, more than 80 participants from the ECB, Reply and further companies explore possibilities to gain deeper and faster insights into the large amount of supervisory data gathered by the ECB from financial institutions through regular financial reporting for risk analysis. The coding marathon provides a protected space to co-creatively develop new ideas and prototype solutions based on Artificial Intelligence within a short timeframe.
Ahead of the event, participants submit projects in the areas of data quality, interlinkages in supervisory reporting and risk indicators. The most promising submissions will be worked on for 48 hours during the event by the multidisciplinary teams composed of members from the ECB, Reply and other companies.
Reply has proven its Artificial Intelligence and Machine Learning capabilities with numerous projects in various industries and combines this technological expertise with in-depth knowledge of the financial services industry and its regulatory environment.
Coding marathons using the latest technologies are a substantial element in Reply’s toolset for sparking innovation through training and knowledge transfer internally and with clients and partners.
Data extraction and integration is the second stage of a digitization process.
Increased electronification has created useable and accessible real-time and historic trade data.
The fintech uses data so institutions can assess the environment impact of their portfolios.
Working with Riskfuel will reduce reliance on slow and expensive financial models.
The platform uses AI to match experts and users and digitize the research process.