Financial Services

Adapting to the challenges of Future Internet and new ICTs
pedro.soria's picture

Pedro Soria-RodriguezHead of Market

Description: 

Operators of Financial Services such as banks, insurance companies and investment firms have been faced in recent years with increased regulatory requirements.  This sector is one of the most regulated ones.   Compliance with such regulatory requirements, specially due to the heterogeneous variety of sources of regulation, is one important challenge financial services entities need to tackle.    Furthermore, the sector is dealing with increased openness of IT environments (due to market competition and regulatory requirements), mergers and acquisitions, and above all, significant challenges brought on by customer and market dynamicity. The FS sector searches for the right answer to these changes and challenges by doing research into the Future of Financial Services.

For more than ten years, R&D projects have been developed in order to ensure secure transactions, provide higher availability, confidentiality and integrity of financial services, and in recent times new trends like artificial intelligence, blockchain or IoT are also paving new research in information management within financial services.

Goals: 

The goal of this sector is to ensure transition and explore the application of our research & innovation solutions in the financial services industry. These solutions are rooted in our activities in information security, semantic technology for the real time processing of data (e.g. news and transactions, among others), and smart city technologies.

The Research & Innovation Financial Services sector feeds requirements, business concerns and challenges of the Financial Services industry to motivate research activities in multiple areas of work, while also opening opportunities for exploitation of research outcomes in banking, insurance, and financial services.

Main Activities: 
  • Helping Financial Services customers identifying regulatory and business challenges and driving them into requirements for R&D projects.
  • Promotion of project results and Atos assets to customers in the Financial Services sector.
  • Development of ICT systems and platforms that support innovation in Financial Services, both in their operation and in their business models.
  • Elaboration of plans for the exploitation of research project results in the Financial Services market.
Challenges: 

Customers in the Financial Services market are faced with challenges of both technical and business nature that call for ICT-based solutions.

  • Adapting business models to an economy more and more driven by management of information.
  • Taking stock of the vast amounts of information owned by banks, to be exploited for the business and operational benefit of the organization.
  • Security concerns over the use of emerging technology business models (e.g. cloud computing).
  • Exploiting the potential of mobile and social-networking technologies in banking, and in insurance.
  • Management of compliance in a highly regulated business environment.
Current Research Topics and Findings: 
  • Analysis of large amounts of information to derive intelligence for enhanced competitiveness and improved operational efficiency.
  • Data trends and sentiment analysis.
  • Security in cloud computing, allowing the adoption of models such as SaaS, PaaS and IaaS (identity as a service) by the Financial Services industry, largely reliant on legacy technologies.
  • Privacy-enhancing technologies and advanced cryptography approaches as building blocks for privacy-enhancing identity management and data management in trusted and untrusted domains.

Projects

FINDER

Fostering Innovation Networks in a Digital Era
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H2020

Innovation networks for FinTech development and integration.

WITDOM

Empowering privacy and security in non-trusted environments
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H2020

Automatic and efficient privacy provisioning solutions, keeping data confidential in the untrusted environment, while the data owner can use the data in the encrypted domain.