MAS, BIS Innovation Hub develop prototype analytics platform for banking supervision

The platform integrates regulatory data and analytics.

A prototype platform has been developed to help regulatory authorities identify potential risks to individual banks and the banking system by the BIS Innovation Hub Singapore Centre and the Monetary Authority of Singapore (MAS).

Called “Project Ellipse,” the platform integrates regulatory data and analytics.

The project was examined in two phases: how machine-executable digital reporting could enable data-driven supervision using a cross-border common data model, and how advanced analytics such as machine learning and natural language processing could be applied to unstructured and granular reporting data.

The examinations were done with the support of the Bank of England, the International Swaps and Derivatives Association, Accenture and Financial Network Analytics.

To further test, customise, and scale the solution across regulatory authorities around the world, BIS will also launch an Ellipse collaboration community. The Ellipse prototype is the first to be published on BIS Open Tech, a new platform for sharing statistical and financial software as public goods.

“It has the potential to be a game-changer by giving supervisors access to more and better data, structured and
unstructured, with greater predictive insights than ever before, it can be scaled to provide real
time analysis on a national or cross border supervisory basis”, said Ross Leckow, Acting Head of the BIS Innovation Hub.

He added that the prototype has the potential to be a “game-changer” in banking regulation, saying it can give “supervisors access to more and better data, structured and unstructured, with greater predictive insights than ever before.”

“It can be scaled to provide real-time analysis on a national or cross border supervisory basis,” Leckow added.