PRESS RELEASE - Joint Communication by StandICT.eu 2023 & INFINITECH
PISA – Italy,10.03. 2022 - StandICT.eu 2023 & INFINITECH kick-off their collaboration to reinforce Digital Finance standardisation efforts in Europe
INFINITECH is a joint effort of global leaders in ICT and finance committed towards lowering the barriers for Big Data/IoT/AI driven innovation, boosting regulatory compliance and stimulating additional investments. The project’s results will be validated in the scope of 14 high impact pilots providing complete coverage of the sectors, including: Know Your Customer (KYC), customer analytics, personalized portfolio management, credit risk assessment, preventive financial crime analysis, fraud anticipation, usage based insurance, agro-insurance and more.
"INFINITECH and StandICT.eu initiated a collaboration to outreach activities on the Fintech domain and contributions to ICT Standards. The communities will jointly participate and organise virtual events, as well as explore business opportunities. StandICT.eu is planning a series of Open Calls for which technical topics will be discussed and the INFINITECH Consortium will join discussions as competent and interested interface of the Fintech domain. An objective of the collaboration is to further establish a Technical Working Group (TWG) formed by renowned experts in the field as well." says Ernesto Troiano, INFINITECH Coordinator.
"The FinTech domain, as outlined in the ICT Rolling Plan for Standardisation, is one of the key pillars of the project: the way financial data is exchanged across institutions and companies worldwide is becoming more and more automated and complex and in need of robust standards. We're incredibly happy to be able to rely on the comptence and the vast know-how of the INFINITECH consortium and to start this collaboration that should hopefully result in brining more FinTech experts to contribute to the inititive, either in quality of funded fellows or in a dedicated TWG in our EUOS to define challenges and priorities in a sectorial Landscape Report" says Francesco Osimanti, StandICT.eu 2023 Vice Coordinator.
The projects will collaborate hand in hand to identify and propose pragmatic suggestions to tackle a spectrum of FinTech related challenges (most critical as regulatory barriers, lack of datasets, testbeds and validated business models preventing the achievement of the full potential of these new technologies). The project will work to jointly tackle such challenges, by providing a 360° coverage to fully leverage the benefits of IoT, Big Data and AI in the financial and insurance sectors and, possibly, to successfully intertwine StandICT.eu's opportunity with the solid expertise of the INFINITECH consortium.