Big data
Large volume of data which can be produced, analysed and increasingly used by digital information tools and systems. This capacity rests on the growing availability of structured data, the possibility to process non-structured data, data storage’s increasing capacities and progress of computing power.
Bigtech
Worldwide technological businesses enjoy a relative privilege in digital technology. The acronym GAFA stands specifically for the four largest technological groups, namely Google, Amazon, Facebook and Apple (the "GAFAA" version also includes Chinese Alibaba). (BIS)
Blockchain
Blockchain: This is a transparent and secure information storage and transmission technology, operating without a central control entity.
Smart contracts
These are programmable applications which can, within the framework of financial transactions, bring about financial flows or a property change if certain events take place. Some smart contracts are capable of self-checking their conditions and getting self-executed by issuing a payment and / or by carrying out external instructions. (BIS)
Cyberrisque
It is the association of the probability of an event affecting information assets, computer capacity and communication resources of an organisation, and the consequences of this event on the said organisation (BIS).
Crowdfunding
This consists in financing a project or a business by raising funds from a big number of participants. It is often achieved by means of online ecords which make funds collection easier for the lender (loan) or issuer (core funds) (BIS).
Fintech
Every technology-based financial innovation, likely to give rise to new strategic models, applications, processes or products with an important impact on markets and financial institutions, as well as on the supply of financial services. (Financial Stability Board)
Cloud-Computing
This consists in using an online host processors network (the "sky") in order to increase the scale and flexibility of computing capabilities. This model allows for an on-request access convenient for a shared set of configurable computing resources (for example, networks, servers, storage systems, which can be rapidly used without requiring huge management resources or interaction ones with service providers.
Innovation
"The implementation of a product (good or service) or of a new or substantially improved process, a new marketing or organisational method in the business practices, organisation of the workplace or external relationships (OECD)."
Artificial Intelligence (IA)
These are computer systems that carry out tasks requiring human skills. AI can ask questions, find and test hypotheses, and take decisions automatically based on an advanced analysis of large data sets
Programming interface (API)
It is a set of rules and instructions followed up by software to communicate between them; and an interface facilitating interaction between different software .
Internet of Things
It is a network of physical systems, vehicles, buildings and other elements incorporating electronics, software, sensors, actuators and network connectivity helping them to (a) collect and exchange data (b) send, receive and execute orders.
Regtech
Every set of Fintech applications intended to regulated financial institutions as regards regulatory and compliance declarations. It can also stand for businesses which offer this kind of application (BIS).
Robo-Advisers
These are applications that join digital interfaces and algorithms. They can also rest on automatic learning in order to offer services ranging between financial recommendations and contract negotiation and portfolio management, along with either a limited or null human intervention. These robots can be either businesses or full platforms, or internal applications of historic financial institutions (BIS).
Regulatory Sandbox
Real environment through which the regulator authorises Fintechs to test full-scale innovative solutions with volunteer clients for a limited period in time under the supervision of the said regulator.
Suptech
It is the use of technology-based innovations by the supervisory authorities
Distributed registry technologies (DLT)
A digital data registry reproduced in many places. These technologies help network nodes to propose, validate and record safely changes of state (or updates) brought to a synchronized record distributed through the network’s nodes. (BIS)