Posted on Categories fintech, startups

Effective regulatory sandboxes: not only financial regulations, but also personal data protection

Regulatory sandboxes usually focus on financial regulations. However, these are not the only obstacle holding back innovative fintech start-ups. More extensive sandbox solutions that also cover data protection issues could make Poland a pioneer on the attractive global market supporting fintech.

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Posted on Categories electronic identification, privacy/personal data protection, startups

Small firms, big data

Many startups offer their clients big data analysis services based on machine-learning algorithms. The results of such analyses can be of interest to any companies profiling their products or marketing campaigns. But for the analysis to be reliable, it takes data—the more the better. Algorithms using machine learning must have something to learn from. The accuracy of the forecasts subsequently developed for business aims will depend on the scope of the training data fed to them. If the algorithm is limited from the start to analysis of an abridged sample of observations, the risk increases that it will incorrectly group data, overlooking important correlations or causal connections—or see them where they don’t exist. Only training the algorithm on large datasets can minimise the risk of shortcomings in diagnosis and prognosis.

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