London, October 6th, 2020: FNA, a deep technology firm specializing in advanced network analytics and simulations, today announces it has won the G20 TechSprint in the ‘Dynamic Information sharing for Supervisors and Regulators in Response to Crises’ category.

The G20 is a collaboration between leaders of the largest economies to discuss financial and socioeconomic issues. The G20 TechSprint is a joint initiative between the Bank for International Settlements Innovation Hub (BISIH) and the G20 Saudi Presidency – designed to showcase the potential for new technologies to resolve operational problems in the areas of regulatory compliance (Regtech) and supervision (Suptech). The hackathon-style competition is also supported by the Monetary Authority of Singapore (MAS), the FSB, API Exchange (APIX), and the RegTech for Regulators Accelerator (R2A).

On March 6, 2020 the G20 Finance Ministers and Central Bank Governors issued a statement on COVID-19 stating that they will work closely with the relevant international organizations, with a view to sharing information among other key areas of collaboration. The G20 TechSprint aspires to contribute to the information sharing element, with the view to supporting effective collaboration amongst financial supervisors and regulators across borders given the global reach of the pandemic.

The judges for the awards comprised a panel of high-profile central banks, universities and financial authorities. The inaugural challenge attracted submissions from over 35 countries.

FNA won the Dynamic Information Sharing category with its new G20 Monitor, a solution launching this week that allows financial authorities and institutions to better understand interconnectedness and emerging risk within the global financial system and economy.

Dr. Kimmo Soramäki, Founder and CEO, FNA states: “We are proud to win this prestigious award, and are grateful for the collaboration with the panel of regulators from both emerging and developed markets that supported us during the solution development stage. We believe that the solution will facilitate stronger coordination amongst financial authorities and institutions – as it will support them in formulating and implementing global responses to critical risks. This is especially needed at the time of unprecedented disruptions from the COVID-19 crisis”.

Ends

For further information
Anthony Harrison, CMO, FNA
email: anthony@fna.fi
tel: +44 203 538 6505

About FNA
FNA is a deep technology company and a leader in Supervisory Technology (Suptech) and Regulatory Technology (Regtech). Its mission is to make the financial system safer and more efficient.

After the financial crisis of 2007-2008, regulators and supervisors recognized the interconnected nature of financial systems and now have access to large amounts of granular, structured and unstructured data. FNA’s technology operationalizes this data by utilizing advanced network analytics, simulation and machine learning techniques.
FNA’s clients include the world’s largest financial authorities, infrastructures and institutions.

About G20 Techsprint
TechSprint is a joint initiative of the BIS Innovation Hub (BISIH) and the Saudi G20 Presidency designed to showcase the potential for new innovative technologies to resolve operational problems in the areas of regulatory compliance (RegTech) and supervision (SupTech). It is being implemented with the support of the Monetary Authority of Singapore (MAS), the Saudi Arabian Monetary Authority (SAMA), the Financial Stability Board (FSB), API Exchange (APIX), and Regtech for Regulators Accelerator (R2A).

For more information please see:
https://www.g20techsprint.apixplatform.com/landing
https://www.bis.org/hub/g20_techsprint.htm

More News

What is Suptech Analytics?

Author: Will Towning, Central Banks and Academia Programme Manager   What is Suptech Analytics?   Suptech is the application of innovative supervisory technology by central banks and financial authorities. It has traditionally focused on helping authorities collect and manage data more effectively, as well as digitise and automate certain processes. Such early iterations mostly support […]

FNA Talks Data Science in Economics and Finance with the Bank of England

FNA Talks Data Science in Economics and Finance with the Bank of England    Adrian Waddy, Data Consultant at Australian Prudential Regulation Authority and Developer at the Bank of England, joins host Adam Csabay to discuss his contribution to the Risk books publication, Data Science in Economics and Finance for Decision-makers. Adrian’s chapter, Implementing Big […]

Reconstructing and Stress Testing Credit Networks

By Amanah Ramadiah, Fabio Caccioli, Daniel Fricke Financial networks are an essential source of systemic risk. Unfortunately, detailed data on (direct and indirect) interactions between individual financial institutions is often unavailable, and the only the total aggregate position is known. To conduct a stress test, one must resort to network reconstruction methods to infer the […]
Copyright FNA © 2021 | Privacy Policy