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ECB launches SupTech procurement – Government & civil service news


ECB: the Frankfurt-based institution is significantly increasing its investment in new technologies | Credit: homer0922; Pixabay
The European Central Bank (ECB) is stepping up its investment in SupTech – technology for supervisory agencies – with a planned spend of more than £200m (US$276m).
SupTech has growing importance for authorities such as the ECB, which wants to boost its capabilities in fields such as artificial intelligence and machine-learning.
“This tender shows the importance the ECB is paying to cutting-edge supervisory and regulatory technologies, including artificial intelligence and machine learning. It is our goal for ECB banking supervision to be at the forefront of these developments,” a spokesperson from the bank said. ....

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