Insig AI Data & Technology Collaboration with FCA
24 April 2023
Insig AI plc
("Insig AI" or the "Company")
Insig AI Data and Technology Collaboration with the FCA
Insig AI is proud to announce that it will be providing data and software to the FCA's 2023 TechSprint, known as the Global Financial Innovation Network's (GFIN) Greenwashing TechSprint.
The GFIN Greenwashing TechSprint will be hosted as a virtual TechSprint, using the FCA's Digital Sandbox platform between June to September 2023 and brings together 13 international regulators so far, working with firms and businesses that have expertise in ESG & Technology.
Further details of the project are available on the FCA's website: https://www.fca.org.uk/firms/innovation/global-financial-innovation-network/gfin-greenwashing-techsprint
The goal of the project is to develop a tool or solution that could help Regulators tackle or mitigate the risks of greenwashing in financial services across the globe. The project will focus on two use cases:
a. How can technology, including AI and Machine Learning, enable regulators and supervisors verify that ESG-related product claims to retail consumers are accurate and complete; and
b. How can technology help monitor, collate and identify examples of greenwashing from financial services firms' websites, social media platforms, and other documentation or data which can also be shared across jurisdictions.
Insig AI will provide its data and technology platform for onboarding of partners and participants of the TechSprint via two means: supplying data to the FCA's Digital Sandbox platform and access to Insig AI's ESG Research Tool. In particular:
· The core data set is Insig AI's database of pdf and machine-readable corporate financial and ESG documents for approximately 4,000 companies, with entity mapping, sentence-level classification against 15 ESG issues and keyword counts;
· Participants will have access to Insig AI's technology via the ESG Research Tool app, which combines machine learning, natural language processing (NLP) and Elasticsearch capability for efficient document interrogation and comparison across the database of reports;
· Insig AI will facilitate the collection, tagging and addition of new corporate documents into the database if required by participants; and
· Training and onboarding sessions will be offered by the Insig AI ESG team to demonstrate how to use the Research Tool and to assist with data analysis.
Steve Cracknell, Chief Product Officer at Insig AI commented: "Our machine-readable data set and interrogation tools are a perfect complement to helping regulators and investors navigate the vast and increasing volumes of corporate disclosure data. As a technology provider to the FCA TechSprint on greenwashing, we see our role as helping deliver transparency and easy access to data through modern AI tools."
Matt Lowe, Manager within the Innovation Department at the FCA said: "We are pleased to have access to Insig AI's technology platform to help investigate potential greenwashing in corporate disclosure documents in the FCA's 2023 TechSprint."
For further information, please visit www.insg.ai or contact:
|
Insig AI plc Colm McVeigh (CEO) Steve Cracknell (Chief Product Officer) |
colin.mcveigh@insg.ai |
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