TL;DR:
- Intesa Sanpaolo is embracing AI solutions to drive digital transformation in alignment with its 2022-2025 Business Plan.
- The bank’s CIAECO Area, in collaboration with Deloitte Risk Advisory, is spearheading a project to digitize and enhance its regulatory agenda-setting processes.
- Intesa Sanpaolo has partnered with Aptus.AI, an Italian startup, to employ AI in regulatory analysis, making it the first European bank to do so.
- This initiative aims to improve efficiency in handling increasing volumes of national and international regulations, assess their impact, identify risk areas, and automate document creation for professional profiles.
- Aptus.AI’s technology converts digital documents into machine-readable formats, providing interactive access to regulatory data, saving time, and aiding decision-making.
- The bank’s collaboration with its Chief Data, AI, Innovation, and Technology Area led to the development of Lisa, a machine-learning tool for processing banking supervision publications.
- This move underscores Intesa Sanpaolo’s commitment to innovation and contributes to the growth of a promising local technology startup.
Main AI News:
In its relentless pursuit of cutting-edge technological solutions, Intesa Sanpaolo is taking strides in the realm of artificial intelligence (AI). This forward-thinking approach aligns seamlessly with the objectives outlined in the Group’s 2022-2025 Business Plan, under the visionary guidance of CEO Carlo Messina.
Under the stewardship of Stefano Lucchini, Chief Institutional Affairs and External Communication Officer (CIAECO), the Group Regulatory Evolution Agenda Department, in collaboration with Deloitte Risk Advisory, has initiated a groundbreaking project. The endeavor aims to usher in a digital era for the bank’s operational framework, specifically concerning the formulation of the Group’s Regulatory Agenda.
Intesa Sanpaolo is now at the vanguard of European banking by integrating artificial intelligence into regulatory analysis. This remarkable feat is made possible through a strategic partnership with the Italian startup Aptus.AI, identified as the ideal technology partner from the global pool of reg-tech innovators. This partnership heralds a transformative phase for the bank’s operational model, enhancing the efficiency and expediency of the Group’s regulatory agenda-setting processes. It is a proactive response to the escalating influx of both domestic and international regulations, enabling the bank to navigate and assess its impact on its operations. The AI-powered solution also facilitates the identification of risk areas, harmonizing them with the Group’s internal regulations, and automates the creation of tailored document collections for specific professional profiles.
At the heart of this innovation lies Aptus.AI’s cutting-edge technology, which enables the conversion of digital documents into a machine-readable format adaptable to various types of textual content. This novel electronic format offers interactive access to regulatory data, thereby optimizing time management and bolstering decision-making capabilities.
The CIAECO Area has been at the forefront of synergy, collaborating closely with the Chief Data, AI, Innovation, and Technology Area, spearheaded by Massimo Proverbio, in championing AI initiatives. Recent collaboration culminated in the development of Lisa (Linguistic Intelligence for Supervisory Awareness), a machine-learning tool created by the Group Supervisory Strategic Steering Department. Lisa is designed to expedite the parsing and analysis of thousands of publications related to banking supervision.
Marcello Mentini, Executive Head of Group Regulatory Evolution Agenda, emphasized the pivotal role played by the Regulatory Agenda in shaping the strategic direction of a diverse and expansive organization like Intesa Sanpaolo. He acknowledged that the agenda-setting process required reinforcement and elaborated on how AI support will enable team members to concentrate on high-value analytical tasks. Furthermore, the partnership with Aptus.AI not only propels the Group’s digital transformation but also contributes to the growth of an exceptional local technology startup, thus strengthening Italy’s technological ecosystem.
Conclusion:
Intesa Sanpaolo’s adoption of AI for regulatory analysis positions it as an industry leader, enhancing its operational efficiency and strategic decision-making capabilities. This innovation sets a precedent in the European banking sector, indicating a growing trend towards AI-driven solutions to navigate complex regulatory landscapes. The partnership with Aptus.AI not only strengthens the bank’s digital transformation but also supports local technology startups, fostering Italy’s technological ecosystem.
