Bank of England announces collaboration with MindBridge AI

OTTAWA, April 03, 2017 (GLOBE NEWSWIRE) -- In a recent announcement by the Bank of England, MindBridge AI has been selected to be a part of the Bank's FinTech Accelerator program. The FinTech Accelerator has undertaken proof of concepts looking at a range of areas such as Blockchain, cyber resilience, and data analysis.

In this engagement, MindBridge will use their AI Auditor technology to analyze desensitized regulatory data to help highlight financial anomalies. ?The Bank of England's selection of MindBridge AI to participate in its innovative FinTech Accelerator program recognizes the capabilities of MindBridge's AI Auditor. We are excited to collaborate with the Bank of England through this initiative,? said Eli Fathi, MindBridge AI CEO.

The Bank of England FinTech Accelerator was launched in 2016 to work in partnership with technology firms to help the Bank harness FinTech innovations for central banking. It offers firms the chance to demonstrate their solutions for real issues facing central bank policymakers, together with the valuable client reference that comes with it.

MindBridge Analytics Inc. is a venture-backed FinTech company based in Ottawa, Canada. Through the application of machine learning and artificial intelligence technologies, the MindBridge platform detects anomalous patterns of activities, unintentional errors and intentional financial misstatements. Using the MindBridge AI Auditor, organizations across multiple industries can minimize financial loss, reduce corporate liability and enhance their professional judgment. The MindBridge AI Auditor became generally available in November 2016.

The Bank of England's announcement can be found here: http://www.bankofengland.co.uk/publications/Pages/news/2017/029.aspx.