MAS, BIS develop prototype supervisory analytics platform

Project Ellipse aims to identify potential risks to individual banks and the banking system.

The BIS Innovation Hub Singapore Centre and the Monetary Authority of Singapore (MAS) have jointly developed a prototype platform, dubbed “Project Ellipse” to help regulatory authorities identify potential risks to individual banks and the banking system.

BIS is also launching an Ellipse collaboration community to share, further test, customise and scale this solution across regulatory authorities around the world. 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, thereby promoting international cooperation and coordination.  

MAS will also adopt the prototype for its supervisory needs, according to Hern Shin Ho, Deputy Managing Director (Financial Supervision), MAS.

She also said that MAS looks forward to further joint initiatives to develop common SupTech solutions for supervisors.

The project undertook two phases, the first which investigated  how machine executable digital reporting could enable data-driven supervision, using a cross-border common data model.

The next phase examined how advanced analytics such as machine learning and natural language processing could be applied to unstructured and granular reporting data. allows identification of risk correlations and sentiment analysis, so as to alert supervisors in real time to issues that may need further investigation.