For instance, despite Micro, Small and Medium Enterprises (MSMEs) being the engines of our economies, access to credit remains a key challenge. This in part arises from lack of 2  traditional collateral such as title deeds used by financial institutions to secure credit facilities. With the proliferation of digital footprints, AI can be used to generate credit histories of MSMEs.
The Single Supervisory Mechanism (SSM) has been in place in the euro area for just over a year: the SSM represents the first pillar of Banking Union by implementing a common area-wide approach to banking supervision, with centralised responsibility for the supervision of the circa 130 largest banking groups (including the main Irish retail banks).