FNA is working with the Bank for International Settlements Innovation Hub Singapore Centre (BISIH), the Monetary Authority of Singapore (MAS) and Accenture on the second phase of Project Ellipse.
Project Ellipse is a proof of concept exploring how supervision could become insights-based and data-driven using an integrated regulatory data and analytics platform.
The two-phase project first explored how authorities and financial institutions could generate process efficiency gains by mapping granular data to a common cross-border data model.
In phase two, the Project Ellipse team is exploring how Artificial Intelligence and Machine Learning techniques can be used to analyse unstructured sources of data, such as news data on corporate lending markets. The project aims to highlight correlations between current events and supervisory metrics, and provide early warnings for supervisory attention via a set of dashboards.
Together with Andrew McCormarck and Joy Wann from the BISIH Singapore and Kenneth Gay from the MAS, FNA’s Founder and CEO Kimmo Soramaki presented the initial progress at the Singapore Fintech Festival in November 2021.
The final results of Project Ellipse will be made available at the end of March 2022.