The Institute For the Future of UNIC joins Flagship EU Project

The Institute For the Future of UNIC joins Flagship EU Project

Infinitech brings together global leaders in ICT from 16 countries to facilitate Innovation and Investments in the Financial and Insurance Sectors.

The Institute For the Future (IFF) of the University of Nicosia (UNIC) is privileged to announce their participation in the INFINITECH Project, alongside some of the biggest names in multiple industries, including banking, insurance, education, and technology.

The INFINITECH Project, which started in October 2019 and will run until December 2022, is made up of a consortium of 42 partners from 16 countries with stakeholders from all 27 European Union (EU) countries and the United Kingdom (UK). The aim of the project is to support the financial and insurance sectors as technologies like Big Data, Artificial Intelligence (AI) and Internet of Things (IoT) drive the innovation process. INFINITECH received €16 million in EU funding will be coordinated by GFT Italy, a subsidiary of GFT Technologies SE. The project falls under the auspices of the biggest EU Research and Innovation programme, Horizon 2020.

INFINITECH will provide:

- Novel BigData/IoT technologies for seamless management and querying of all types of data interoperable data analytics, blockchain-based data sharing, real-time analytics, as well as libraries of advanced AI algorithms.
- Regulatory tools incorporating various data governance capabilities and facilitating compliance to regulations (e.g., PSD2, 4AMLD, MIFiD II).
- Nine novel and configurable testbeds & sandboxes, each one offering Open APIs and other resources for validating autonomous and personalized solutions, including a unique collection of data assets for finance/insurance.
- The project results will cover all areas of business activities including Know Your Customer (KYC), customer analytics, personalised portfolio management, credit risk assessment, preventive financial crime analysis, fraud anticipation, usage-based insurance, agro-insurance and more. This will be done through 14 pilot projects.

According to Professor George Giaglis, Executive Director of IFF and coordinator of INFINITECH on behalf of UNIC: “Joining the INFINITECH Project was only natural for IFF being a research institute focused on exponential technologies. We are looking forward to working with the INFINITECH partners to develop groundbreaking solutions for banking and insurance services across Europe, enabled by Blockchain, AI and Big Data.”

About the Institute For the Future

The Institute For the Future (IFF) at the University of Nicosia is a leading global provider of education and research in blockchain and cryptocurrencies. It is an interdisciplinary research centre aimed at advancing emerging technologies and contributing to their effective application in industry, government and education, as well as evaluating their impact on our lives and societies in general. IFF brings together academics, researchers, businesses and organisations that engage in its core research areas, which primarily includes Blockchain, Artificial Intelligence (AI), as well as the so-called exponential technologies. For more information regarding the focus areas, projects and partners of IFF, please visit www.unic.ac.cy/iff/ 

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