Helaba and Black Digits commit to collaborate on upholding digital autonomy
Partnership Boosts Digital Sovereignty in European Financial Sector
In a significant move to strengthen digital independence and sovereignty, the Landesbank Hessen-Thueringen (Helaba) and Schwarz Digits, the digitalization specialist of the Schwarz Group, have joined forces in a strategic cooperation. This collaboration aims to develop innovative, industry-specific digital solutions, with a focus on artificial intelligence (AI) and digital marketplaces [1][2].
The partnership is part of the DataHub Europe initiative launched by Schwarz Digits. The goal of this initiative is to establish a sovereign data infrastructure operated in Europe, allowing companies and institutions to manage and access their data securely and in compliance with legal requirements. This reinforcement of resilience and independence in Europe’s digital economy is particularly relevant for banks and financial service providers due to stricter regulatory requirements like the EU's DORA regulation and the European Central Bank's cloud guidelines [1][2].
Digital sovereignty is a crucial success factor for the future viability of the financial sector, especially in the context of AI applications. Helaba's Chief AI Officer, Philipp Schwaab, emphasized that this partnership will allow them to set new standards together, focusing on open-source technology, transparent processes, and strict adherence to European data protection and security regulations [1][2].
By using open-source software, institutions retain full control over source codes and can independently further develop them. Moreover, the AI solutions will be based on algorithms that are transparently documented and verifiable, ensuring compliance with European standards [1].
The strategic partnership will result in the creation of sector-specific applications, particularly in the areas of Artificial Intelligence (AI) and digital marketplaces. These solutions will be designed to address challenges in risk assessment, fraud detection, and customer interaction [2].
The core of the collaboration lies in the connection of Schwarz Digits' technological expertise with Helaba's financial and regulatory know-how. This combination is expected to yield solutions that are not only innovative but also aligned with European values and regulations [2].
In summary, the partnership enhances digital sovereignty by:
- Developing AI-driven, transparent, and open-source applications tailored for finance.
- Ensuring compliance with European data protection and security laws.
- Supporting Europe’s digital independence through sovereign data infrastructure.
- Strengthening the resilience of European economies by reducing reliance on non-European technologies [1][2].
This strategic cooperation is a significant step toward securing a robust, autonomous, and innovative digital ecosystem in the financial sector within Europe.
[1] Schwarz Digits. (2023). Strategic Partnership with Helaba to Boost Digital Sovereignty in the Financial Sector. Retrieved from https://www.schwarz-digits.com/en/news/strategic-partnership-with-helaba-to-boost-digital-sovereignty-in-the-financial-sector/
[2] Helaba. (2023). Partnership with Schwarz Digits to Strengthen Digital Sovereignty in the Financial Sector. Retrieved from https://www.helaba.com/en/newsroom/partnership-with-schwarz-digits-to-strengthen-digital-sovereignty-in-the-financial-sector-62551
The strategic partnership between Helaba and Schwarz Digits leverages technology to create finance-specific digital solutions, adhering to open-source principles and European data protection regulations. This business association is aimed at enhancing digital sovereignty through AI-driven applications and supporting the establishment of a sovereign data infrastructure in Europe.
