The digital revolution is reshaping the financial sector, making new products and services possible for the customers: but this does not come without a cost. More specifically, banks are facing the challenge of reshaping business operations and processes using digital tools and algorithms which are not exempted by what is called the “Regulation Tsunami”, an exponential increase in the number of regulations.
In this context, Into the Digital Odyssey, collaborating with the newly created CDT structure (Compliance Digital & Data Transformation) of Intesa Sanpaolo (ISP), aims to support the digital transformation journey of the Chief Compliance Officer Area and to monitor its evolution, in line with the Group’s overall digital strategy. The project will address ISP’s needs by achieving the following objectives:
- Develop a scenario analysis and a framework to recognize, address and mitigate the risks introduced by new digital technologies (e.g. Artificial Intelligence, Blockchain, Cloud Computing, …);
- Apply the defined framework to a specific area (e.g. compliance department);
- Define and implement a risk analysis model supporting the above.
Into the Digital Odyssey brought added value to the state of the art of activities of the compliance function by applying the methods of the compliance risk assessment (CRA) to the new digital technologies (in particular AI), and by designing new mitigation actions that allow the usage of new digital technologies in a way that is beneficial for ISP business and, at the same time, compliant with new European regulations, sustainable, and respectful of the fundamental human rights.
Principal Academic Tutor
Carlo Cambini, DIGEP, Politecnico di Torino
External Institution
Intesa San Paolo
Team members
Alberto Meneghesso, Management Eng, PoliMi
Giacomo Bima, Industrial production Eng, PoliTo
Alfonso Palmieri, Nanotechnologies for ICTs, PoliTo
Alberto Sivera, Nanotechnologies for ICTs, PoliTo