In brief: Five banks partner around data analysis

A new interbank association has just emerged in Europe. It involves several renowned European banks and relies on the combination of forces and expertise to optimize large-scale payment data analysis. This new Global Financial Transactions Network (FTGRN) is led by ABN AMRO, BBVA, BNP Paribas Fortis, CaixaBank and Danske Bank.

These five new partners are now committed to working together within their FTGRN not-for-profit platform to better exploit information from anonymous financial transaction data.

The aim is to provide real-time information to households, businesses and policy makers to help them understand economic realities and facilitate decision-making.

Pointed collaborative work

The new FTGRN network is based on a collaborative governance model. A Scientific Council composed of economists defines research priorities to ensure their scientific rigour. A Steering Committee (composed of representatives of socially engaged financial institutions) oversees operations and provides the context for the data. Thematic groups (organized around the priorities identified by the Scientific Council) finally bring together leading researchers, companies, academics and policy makers to facilitate knowledge exchange.

Members of this new association highlight current economic fluctuations and thus justify the relevance of their initiative to promote knowledge and transparency.

Traduit automatiquement via Libretranslate / Automatically translated via Libretranslate