Theme: "The contribution of artificial intelligence in improving the provision of banking, financial and payment services to businesses, households and the public administration, with a particular focus on financial inclusion, adequate consumer protection, and data security".
Call for proposals 2021 - chronology:
- On 29 October 2021 the time window for the presentation of projects closed (see infographics);
- The list of eligible projects was published on 28 February 2022;
- On 9 September 2022 a networking internal event between the selected participants took place at the Banca d'Italia Congress Centre (short video of the event - only IT version available); the support phase started on March 2022 and will be closed on 25 November 2022; for more details on the projects see Selected projects - Description.
The projects can be submitted to Milano Hub by three different categories of aspiring participant, Italian or foreign. Within Milano Hub there is a dedicated area of operations for each one:
- Fintech Hub: non-bank/financial undertakings (e.g. technology solution providers) or combinations thereof;
- Innovation Hub: banking, financial and insurance intermediaries or combinations thereof;
- Research & Development Hub: universities, research institutes, other bodies or combinations thereof.
A maximum of 10 projects is eligible for support from the HUB.
The necessary condition for the admission of the projects submitted to the evaluation procedure shall be the fulfillment of the following requirements:
- Subjective, relating to the nature and integrity of the proposers, to be attested through a self-certification;
- Objective, concerning the project's relevance to the sectors of interest of the hub (banking, financial, and insurance) and the relevance to the types of support offered under the initiative.
The proposed design initiative must not be marketed in any way.
The evaluation of the projects is based on two main dimensions:
- «Value», which includes the criteria of system relevance and scalability, completeness, sustainability and innovative content;
- «Viability» which includes the criteria of feasibility, measurability and security.
The weighting of the two dimensions, "Value" and "Viability," and the individual evaluation criteria are weighed differently under the specificity of the area of operation in which the project will be developed.
The project selection phase is carried out by an evaluation panel.
The support phase for each project within the Hub generally has a maximum duration of six months, depending on its characteristics and complexity of implementation.
For more information on access criteria and how to participate in each of the three areas of operation of the Hub (Fintech, Innovation, and Research & Development), please refer to the Rules of the Call for Proposals 2021. For further requests for clarification, please check info@milanohub.bancaditalia.it.
