6. INFINITECH Way Foundations Impact on Fintech and Insurance

By Martín Serrano, NUIG-Insight, Ireland, martin.serrano@insight-centre.org | Bardia Khorsand, NUIG-Insight, Ireland | John Soldatos, INNOV, Cyprus | Ernesto Troiano, GFT, Italy | Juergen Neises, FTSG, Germany | Pavlos Kranas, LXS, Spain | Kostis Perakis, UBI, Greece | Alessandro Mamelli, HPE, Italy | Ignacio Elicegui, ATOS, Spain | Dimosthenis Kyriazis, UPRC, Greece | George Makridis, UPRC, Greece | Gisela Sanchez, FI, France | Marina Cugurra, GFT, Italy

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Published: 03 Jul 2023

© 2023 Martín Serrano | Bardia Khorsand | John Soldatos | Ernesto Troiano | Juergen Neises | Pavlos Kranas | Kostis Perakis | Alessandro Mamelli | Ignacio Elicegui | Dimosthenis Kyriazis | George Makridis | Gisela Sanchez | Marina Cugurra

Abstract

The financial and insurance sector have not yet an adopted/accepted unified way of accessing & querying vast amounts of structured, unstructured, and semistructured data. It is envisioning that a semantic approach can increase data interoperability and improve the OLTP (On-Line Transactional Processing) databases, OLAP (On-line Analytical Processing) databases and data warehouse which will reflect a potential benefit in the financial sector. The new technologies are having positive impact in all industries, and the FinTech’s are not an exception, the effort and cost that is associated to finance and banking services with the development of BigData analytics and AI systems is compensated with the number of opportunities and economic benefits.