BANCA MEDIOLANUM ADOPTS ARTIFICIAL INTELLIGENCE ALGORITHMS FOR RISK MANAGEMENT

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With the introduction of IFRS9 accounting principles on Jan 1, 2018, all banks, including non-AIRB (advanced internal ratings-based) banks, have to adopt a “model validation and governance” framework for their internal risk models. Thus, the need for banks to identify and equip themselves with innovative tools to manage validation processes of the risk models used.

In response to the regulatory requirements, thanks to the collaboration between the Risk and the Innovation departments, Banca Mediolanum has adopted the Yields.io model risk management platform.

This solution will enable Banca Mediolanum to manage the entire life cycle of risk models including data validation, performance measurements and benchmarking, using state-of-the-art Artificial Intelligence algorithms.