The Bank of England has taken the first step towards updating its data capabilities following a successful proof of concept (PoC) with Japan-based NTT Data and German start-up Reportix.
“The bank collects and analyses a large quantity of regulatory data from financial institutions … We undertook this proof of concept … to explore if there is potential to reduce the cost of collecting and analysing this data,” said Beju Shah, head of data collection and publication at the BoE, on April 5.
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