Last month, the European Central Bank (ECB) was awarded the "Digital Transformation Award" by Central Banking for its efforts to drive innovation and technology adoption across the Single Supervisory Mechanism (SSM) and beyond.
"In this fiercely competitive field, the European Central Bank's efforts to digitise its supervisory arm stood out for the scale of its ambition and the broad scope of tools and governance structures under development," Central Banking wrote. “Not only is the [SSM] reshaping its own work, but it is also rolling out innovations across the Eurosystem and supporting efforts outside the boundaries of the eurozone.”
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