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Banca d'Italia's FinTech Milano Hub — 40 Proposals, 10 AI Projects Selected for Six Months of Supervisory Support

Italy · Milan · See the Italy profile · See the Milan profile

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The Bank of Italy's innovation centre ran an AI-themed call in 2021: 40 projects (62 operators) applied, 10 were selected for six months of expert support; outcomes of the projects are not publicly evaluated.

Banca d'Italia's FinTech Milano Hub — 40 Proposals, 10 AI Projects Selected for Six Months of Supervisory Support

Details

Promoter
Banca d'Italia (with CONSOB and IVASS)
Period
2021–2022
Keywords
central bank, financial supervision, AI sandbox, fintech, regtech

Description

Milano Hub is the innovation centre set up by Banca d'Italia to let operators test innovative products, services and business models in a defined regulatory context, in dialogue with the financial supervisors (Banca d'Italia, CONSOB, IVASS).
Its first Call for Proposals (2021) was devoted to artificial intelligence in banking, financial and payment services, with attention to financial inclusion, consumer protection and data security. According to the Deputy Governor's 2022 speech published by the BIS, the call drew 40 projects submitted by 62 operators (financial intermediaries, start-ups, universities, law firms and others); 22% of projects involved academia.
Ten projects were selected on 28 February 2022 across three tracks (FinTech Hub, Innovation Hub, Research & Development Hub), including Nexi Payments (real-time transaction fraud detection), Credito Emiliano (crypto fraud detection), Generali Investments (personalised wealth management), Aptus.AI (regulatory analysis) and university projects from Pavia and Salento. Each received about six months of support from Bank of Italy experts.
Caveats: the public record documents selection and the support model, not measured outcomes of the projects; a comparison of results, supervisory lessons and any resulting licences is not published in the sources reviewed.

Read the full analysis: https://www.bancaditalia.it/media/notizia/fintech-milano-hub-call-for-proposals-2021-list-of-selected-projects/

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