In many cases, legacy core banking systems designed in the pre-mobile app era may not be amenable to swift changes in product design, computational capabilities, API integration, etc. 2. Secondly, to build capacity, banks and financial institutions should foster continuous innovation. This is crucial in today's technology led dynamic environment. The financial sector will have to anticipate and prepare for potential future requirements. 3.
6  To create a network and foster scientific collaboration, jointly with the FRB, the Sveriges Riksbank, the University of Pennsylvania and the Imperial College of London we are also organizing a series of webinars on “Applied Machine Learning, Economics and Data Science” (AMLEDS).