With the financial sector being the largest user of digital technologies and a major driver in the digital transformation of the economy, FinTech is competing with and supporting the established financial industry in the delivery of financial services.
Globally, more than $100 billion of investments have been made into FinTech companies and AI, and these continue growing substantially.
The European Commission’s action plan for a more competitive and innovative financial market, will investigate FinTech from three different angles: improving the transparency of AI, addressing the disparity between the proliferation in AI models and decision-making, and developing methods to scrutinise the quality of products across asset management, banking and insurance industries.
Prof. Stelios Bekiros from the University’s Department of Banking & Finance, has accepted an invitation to be Malta’s representative of the largest EU Consortium COST Action in FinTech and Artificial Intelligence.
This COST Action is being funded by a H2020 Mega-Grant of the EC.
The invitation was extended by the EU Action Chair, Prof. Jörg Osterrieder (Prof of Finance, ZHAW School of Engineering Forschungsschwerpu
"I could not have accomplished this with the invaluable support of Faculty Dean, Prof. Frank Bezzina, and the Head of the Department of of Banking & Finance, Prof. Robert Suban", said Prof. Bekiros.