Committed to innovation and security, Brazilian financial institutions will increase studies on important emerging technologies. The Brazilian Banks Association (ABBC) recently announced the creation of the ABBC Institute for Academic Studies of the Financial System. The purpose of this initiative is to encourage and promote studies, blockchain and AI research and analysis (Artificial intelligence).
In the coming years, the association will evaluate the potential of these solutions to innovate and improve banking systems. For that, approaches should include operational assessments of these systems, but also the discussion of regulatory topics on technologies. With research and studies, ABBC intends to map current and possible weaknesses in financial systems, market challenges and opportunities.
Another focus of the institute will be studies that encompass cybersecurity and digital assets. For that, Agreements are already being signed with other educational institutions. The first to sign a partnership was Ibmec. But, other academic and research centers should also participate to contribute to the production of materials.
Seminar will discuss the use of technologies
The announcement was made by the association this Monday, 13, during an official launch in São Paulo. The institute's first work is expected to be launched within 6 months. In this way, a seminar open to the public will be held to discuss regulatory and legislative issues and changes regarding the use of the solutions.
In ABBC, nonetheless, defends the creation of the institute to seek unbiased information about the financial market and emerging technologies. The association's board argues that answers involving blockchain and AI must be academic, and not raised only by banks.
All results that will be collected in research and studies will be presented to the regular bodies of the Brazilian financial system. The objective is to unite these academic materials with political issues, social and economic issues relevant to the country.
BC foresees greater social inclusion
The launch event in São Paulo was attended by authorities from Banco Central. Directors Otávio Damaso (of Regulation), Diogo Guillen (of Economic Policy) and Ailton Santos (of Inspection), were present, together with other representatives of the financial sector.
Regulation director Otávio Damaso argued that the initiative is fundamental to strengthening the Brazilian financial system. For him, the increasing efficiency of technological and innovation processes in this area will result in greater social inclusion, in general.
