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For editing the Wiki: Please send your login name (after you sign up to the Wiki) to Ronald Hochreiter (ronald.hochreiter AT wu.ac.at)

COST Action 19130 - Fintech and Artificial Intelligence in Finance - Towards a transparent financial industry

The financial sector is the largest user of digital technologies and a major driver in the digital transformation of the economy. Financial technology (FinTech) aims to both compete with and support the established financial industry in the delivery of financial services. Globally, more than $100 billion of investments have been made into FinTech companies and Artificial Intelligence (AI) since 2010, and continue growing substantially. In early 2018, the European Commission unveiled (a) their action plan for a more competitive and innovative financial market, and (b) an initiative on AI with the aim to harness the opportunities presented by technology-enabled innovations. Europe should become a global hub for FinTech, with the economy being able to benefit from the European Single Market.

The Action will investigate AI and Fintech from three different angles: Transparency in FinTech, Transparent versus Black Box Decision-Support Models in the Financial Industry and Transparency into Investment Product Performance for Clients. The Action will bridge the gap between academia, industry, the public and governmental organisations by working in an interdisciplinary way across Europe and focusing on innovation.

The key objectives are:

to improve transparency of AI supported processes in the Fintech space
to address the disparity between the proliferation in AI models within the financial industry for risk assessment and decision-making, and the limited insight the public has in its consequences by developing policy papers and methods to increase transparency
to develop methods to scrutinize the quality of products, especially rule-based “smart beta” ones, across the asset management, banking and insurance industries.

Our COST Action FinAI

COST FinAI Working Groups

Prof. Dr. Wolfgang Karl Härdle, Leader Working Group 1, email Prof. Dr. Petre Lameski, Leader Working Group 2, email Prof. Dr. Peter Schwendner, Leader Working Group 3, email

COST Action Tools

To apply for an STSM grant or ITC grant, please register here: Official e-COST tool

Collaboration with industry, governments and international organisations

Management Committee Meetings

1st MC meeting, online, September 14/15, 2020, Start of the Action FinAI
2nd MC meeting, online, November 12, 2020, Start of the first Grant Period
3rd MC meeting, online, February 17, 2021, Intermediate Results from the first Grant Period

Working Group Meetings

See our meet-up [1]

Grant Holder

The COST Action runs from September 2020 until September 2024 and is divided into five grant periods, each with different goals and budget. Please go to grant periods for more details.

Research

Diversity

Diversity is one of the main aspects to be considered in this Action. The three main considerations are gender balance, participation of Inclusiveness Target Countries and Early Career Investigators.

Science Communication

Details about our Science Communication.
Webpage
Twitter
LinkedIn
Google Form to add contents on Website and Media

For any content to be added to our website, please compile the following Form

Short-term scientific missions

Short-term scientific missions STSM and Inclusiveness Target Country conference grants are two of the main tools which support the COST Action goals.

Virtual Networking

The Virtual Networking Grants aim to promote virtual collaboration within the Action.

How to?

How to publish COST papers?
How to apply for STSMs?
How to join?
How do I get funding for my COST activities?
How to find the google drive?

Contacts

Prof. Dr. Joerg Osterrieder, Action Chair, email

Prof. Dr. Valerio Poti, Action Vice Chair, email

Prof. Dr. Wolfgang Karl Härdle, Leader Working Group 1, email

Prof. Dr. Petre Lameski, Leader Working Group 2, email

Prof. Dr. Peter Schwendner, Leader Working Group 3, email

Dr. Branka Hadji Misheva, Grant Holder, email

Dr. Alessia Paccagnini, Science Communication Manager, email

Prof. Dr. Dr. Ania Zalewska, Academia-Government Coordinator, email

Assoc. Prof. Dr. Vasile Alecsandru Strat, Virtual Network Strategy Manager, email

Assist. Prof. Dr. Apostolos Chalkis, Virtual Network Strategy Manager Substitute, email

COST FinAI Core Group

COST FinAI member profiles

COST FinAI country profiles

COST FinAI Scientific Advisory Board

Management Committee

COST FinAI participants

Virtual Mobility Grants

Virtual Mobility Strategy [2]
Information about VMGs

Acknowledgements

Important_links#COST_Acknowlegdement

Disclaimers

For events: This event is based upon work from COST Action 19130, supported by COST (European Cooperation in Science and Technology), www.cost.eu

For publications: This publication is based upon work from COST Action 19130, supported by COST (European Cooperation in Science and Technology), www.cost.eu

For articles: This article is based upon work from COST Action 19130, supported by COST (European Cooperation in Science and Technology), www.cost.eu

COST FinAI Logo

Please always use our COST FinAI logo.

@@ Line 1: / Line 1: @@
-[/news/china/index.html China] and [/news/indonesia/index.html Indonesia] held war game exercises on Australia's doorstep just as Beijing bragged it could hit us with long-range missiles.<br>Guided-missile [http://www.exeideas.com/?s=frigates%20practicing frigates practicing] attack formation maneuvers, search and  [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-giang-cao-nguyen-da-dong-van-3-ngay-2-dem.html tour hà giang] rescue operations and communication drills were put through their paces in waters off Jakarta over the weekend.<br>A Chinese propaganda outlet warned one day after the military exercises that Beijing should launch 'long-range strikes' on strategic Australia targets if Canberra gets involved in a potential conflict over [/news/taiwan/index.html Taiwan].<br>         China and Indonesia held war game exercises on Australia's doorstep (pictured) just days before Beijing bragged it could hit us with long-range missiles.<br>         Guided-missile frigates practicing attack formation maneuvers, search and rescue operations and  [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-giang-cao-nguyen-da-dong-van-3-ngay-2-dem.html tour hà nội hà giang] communication drills were put through their paces in waters of Jakarta over the weekend.<br><br>Here, Chinese missile frigate Yuncheng launches an anti-ship missile during a military exercise in the waters near south China's Hainan Island and Paracel Islands in 2016<br>Australia's relationship with China has deteriorated rapidly over the past year with Beijing slapping about $20 billion of arbitrary tariffs and bans on exports including barley, wine, beef, copper, coal, cotton and seafood.<br>The campaign of economic coercion began after Scott Morrison's government in April last year called for an independent inquiry into the origins of the Covid-19 pandemic, which first appeared in Wuhan during the end of 2019.<br>The plea for transparency infuriated the authoritarian state and tensions have ramped up as a result of the diplomatic spat.<br>   RELATED ARTICLES  [# Previous] [# 1] [# Next]     [/news/article-9514983/China-demands-Australia-support-policy-annexing-Taiwan.html   China demands Australia support the annexing of Taiwan and... ] [/news/article-9548625/China-cuts-economic-talks-Australia.html   Beijing cuts off ALL economic talks with Australia as it... ]    <br><br><br><br>Share this article<br>Share<br><br><br>In recent weeks, discussions over the disputed island territory of Taiwan reached fever pitch, with Australian Home Affairs secretary Michael Pezzullo acknowledging the 'drums of war' are getting louder.<br>As part of Australia's strategy to push back against an increasingly aggressive and belligerent China, diplomats have tried to engage with southeast Asian nations who remain under threat from Beijing.<br>Chinese military forces continue to encroach on the sovereignty of its neighbours in the South China Sea including Malaysia, the Philippines, Vietnam, Brunei and even Indonesia.<br>         This graph shows the differing military capabilities of China and Australia as tensions between the two countries mount and The Global Times calls for possible military intention by Beijing<br>'Indonesia has a complex relationship with Beijing,' Dr David Engel, head of the Australian Strategic Policy Institute's Indonesia program told Daily Mail Australia.<br>'President Joko Widodo is keen to have as close of a relationship with China as possible, likely for reasons of self-interest, but at the same time China has infringed on their territory in the South China Sea so it remains tense.'<br>The two nations were locked in a dispute back in 2019 after China repeatedly encroached on vital fishing waters off the Natuna Islands which remain part of Indonesia's exclusive economic zone.<br>       Despite the flare-up, the relationship appears to be back getting on track after China offered to recover the bodies of Indonesian sailors who perished after their submarine sank April 21.<br>'Plainly, China is doing that for their own self interest to gain some soft power and improve its standing in the region which generally isn't very good,' Dr Engel said. <br>'Our government should be alert as to how China and Indonesia engage with each other and how much influence Beijing can wield in Jakarta.'<br>         A Chinese naval ship sails into Sydney Harbour in June 2019 during a secret reciprocal visit - there are now warnings of an impending war between the nations<br>         China has also warned Australia it must fall in line with its policy to 'reunify' the disputed island of Taiwan if it wants to trade to return to normal.<br><br>Pictured: Chinese Navy personal stand guard<br>But Dr Engel says any reading that Indonesia is drifting towards China is exaggerated.<br>'They're doing what a lot of countries are doing when it comes to Beijing - trying to thread the needle between their economy and their security,' he said.<br>'It's pretty clear that sentiment among ASEAN (Association of Southeast Asian Nations) countries towards China has become increasingly negative.<br>'The behaviour that China has exhibited has been so threatening and  [https://www.kynghidongduong.vn/tours/tour-du-lich-ha-giang-cao-nguyen-da-dong-van-3-ngay-2-dem.html tour hà nội hà giang] worrisome to them in the South China Sea, there is growing anxiety when it comes to Beijing.<br>'So I don't think we should be too alarmed about Indonesia at this stage.' <br>As the war games were being wrapped up on Sunday and the People's Liberation Army forces were congratulating themselves on a mission well done, Chinese state media fired a warning shot at Canberra war 'hawks'.<br>         Australia could be on the verge of an all-out war with China as tensions between the two trading partners continue to escalate.<br><br>Pictured is Chinese President Xi Jinping<br>         Beijing mouthpiece The Global Times said China should launch 'long-range strikes' on Australia's military facilities if Australia combats the People's Liberation Army in a potential war in the Taiwan Straits.<br><br>Pictured, PLA soldiers in  Kashgar, northwestern China's Xinjiang region<br><div class="art-ins mol-factbox news floatRHS" data-version="2" id="mol-ce24a020-b21b-11eb-84b7-930a5ecb4530" website and Indonesia hold war games exercises one Australia&apos;s doorstep
+For editing the Wiki: Please send your login name (after you sign up to the Wiki) to Ronald Hochreiter (ronald.hochreiter AT wu.ac.at)
+== COST Action 19130 - Fintech and Artificial Intelligence in Finance - Towards a transparent financial industry ==
+The financial sector is the largest user of digital technologies and a major driver in the digital transformation of the economy. Financial technology (FinTech) aims to both compete with and support the established financial industry in the delivery of financial services. Globally, more than $100 billion of investments have been made into FinTech companies and Artificial Intelligence (AI) since 2010, and continue growing substantially. In early 2018, the European Commission unveiled (a) their action plan for a more competitive and innovative financial market, and (b) an initiative on AI with the aim to harness the opportunities presented by technology-enabled innovations. Europe should become a global hub for FinTech, with the economy being able to benefit from the European Single Market.
+The Action will investigate AI and Fintech from three different angles: Transparency in FinTech, Transparent versus Black Box Decision-Support Models in the Financial Industry and Transparency into Investment Product Performance for Clients. The Action will bridge the gap between academia, industry, the public and governmental organisations by working in an interdisciplinary way across Europe and focusing on innovation.
+The key objectives are:
+*to improve transparency of AI supported processes in the Fintech space
+*to address the disparity between the proliferation in AI models within the financial industry for risk assessment and decision-making, and the limited insight the public has in its consequences by developing policy papers and methods to increase transparency</li>
+*to develop methods to scrutinize the quality of products, especially rule-based “smart beta” ones, across the asset management, banking and insurance industries.
+== Our COST Action FinAI==
+* [[Responsibilities]]
+* [[Internal Newsletter]]
+* [[External Newsletter]]
+* [[Events]]
+* [[How to join]]
+* [[Important links]]
+* [[Technical Coordination]]
+* [https://docs.google.com/spreadsheets/d/1pMeu4BS3vv_mbJ395FG6R3GhObW_Qo1O6vIHH0vkIiY/edit#gid=0 Get funding (proposals for activities)]
+* [[Contacts]]
+== COST FinAI Working Groups ==
+Prof. Dr. [[Wolfgang Karl Härdle]], Leader Working Group 1, [mailto:haerdle@hu-berlin.de email]
+Prof. Dr. Petre Lameski, Leader Working Group 2, [mailto:petre.lameski@finki.umki.mk email]
+Prof. Dr. [[Peter Schwendner]], Leader Working Group 3, [mailto:peter.schwendner@zhaw.ch email]
+* [[Working group 1 - Transparency in FinTech]]
+* [[Working group 2 - Transparent versus Black Box Decision-Support Models in the Financial Industry]]
+* [[Working group 3 - Transparency into Investment Product Performance for Clients]]
+== COST Action Tools ==
+To apply for an STSM grant or ITC grant, please register here: [https://e-services.cost.eu/ Official e-COST tool]
+* [https://e-services.cost.eu/stsm STSM application]
+* [https://e-services.cost.eu/conferencegrant ITC application]
+* [[Training schools]]
+* [[Conferences and workshops]]
+== Collaboration with industry, governments and international organisations==
+* [[Industry coordination]]
+* [[Government collaboration]]
+* [[Regulators]]
+* [[International organisations]]
+== Management Committee Meetings ==
+* [[1st MC meeting]], online, September 14/15, 2020, Start of the Action FinAI
+* [[2nd MC meeting]], online, November 12, 2020, Start of the first Grant Period
+* [[3rd MC meeting]], online, February 17, 2021, Intermediate Results from the first Grant Period
+== Working Group Meetings ==
+* See our meet-up [https://www.meetup.com/Fintech_AI_in_Finance/]
+== Grant Holder ==
+The COST Action runs from September 2020 until September 2024 and is divided into five grant periods, each with different goals and budget.
+Please go to [[grant periods]] for more details.
+== Research ==
+* [[Official COST FinAI Publications]]
+* [[Research proposals]]
+* [[Research projects]]
+* [[How do I get funding for my COST activities]]?
+* [[Contribute to writing a common paper]]
+== Diversity ==
+[[Diversity]] is one of the main aspects to be considered in this Action. The three main considerations are gender balance, participation of Inclusiveness Target Countries and Early Career Investigators.
+== Science Communication ==
+* Details about our [[Science Communication]].
+* [https://fin-ai.eu/ Webpage]
+* [https://twitter.com/FinAi_Cost Twitter]
+* [https://www.linkedin.com/company/fintech-and-ai/ LinkedIn]
+* [https://docs.google.com/forms/d/e/1FAIpQLSf2mp3irBkiUGdJre7hrfhwJYGRbUGKdojv6CzlZZk7Nb9Rqw/viewform Google Form to add contents on Website and Media]
+For any content to be added to our website, please compile the following [https://forms.gle/eQQWE82JabZ2ewuu8 Form]
+== Short-term scientific missions ==
+Short-term scientific missions [[STSM]] and Inclusiveness Target Country conference grants are two of the main tools which support the COST Action goals.
+== Virtual Networking ==
+The [[Virtual Networking Grants]] aim to promote virtual collaboration within the Action.
+== How to? ==
+* How to [[publish COST papers]]?
+* How to [[apply for STSMs]]?
+* [[How to join]]?
+* [[How do I get funding for my COST activities]]?
+* [https://drive.google.com/drive/folders/1BIVo3wAVUOtCBqCpSrIcrmXe2LQC_ZCp How to find the google drive?]
+== Contacts ==
+Prof. Dr. [[Joerg Osterrieder]], Action Chair, [mailto:joerg.osterrieder@zhaw.ch email]
+Prof. Dr. Valerio Poti, Action Vice Chair, [mailto:valerio.poti@ucd.ie email]
+Prof. Dr. [[Wolfgang Karl Härdle]], Leader Working Group 1, [mailto:haerdle@hu-berlin.de email]
+Prof. Dr. Petre Lameski, Leader Working Group 2, [mailto:petre.lameski@finki.ukim.mk email]
+Prof. Dr. [[Peter Schwendner]], Leader Working Group 3, [mailto:peter.schwendner@zhaw.ch email]
+Dr. Branka Hadji Misheva, Grant Holder, [mailto:hadj@zhaw.ch email]
+Dr. Alessia Paccagnini, Science Communication Manager, [mailto:alessia.paccagnini@ucd.ie email]
+Prof. Dr. Dr. Ania Zalewska, Academia-Government Coordinator, [mailto:a.zalewska@bath.ac.uk email]
+Assoc. Prof. Dr. Vasile Alecsandru Strat, Virtual Network Strategy Manager, [mailto:vasile.strat@bbs.ase.ro email]
+Assist. Prof. Dr. Apostolos Chalkis, Virtual Network Strategy Manager Substitute, [mailto:tolis.chal@gmail.com email]
+[[COST FinAI Core Group]]
+[[COST FinAI member profiles]]
+[[COST FinAI country profiles]]
+[[COST FinAI Scientific Advisory Board]]
+[https://www.cost.eu/actions/CA19130/#tabs|Name:management-committee Management Committee]
+[https://docs.google.com/spreadsheets/d/14gqsVm9AuR13OTD0n7tc45DQlxQ0bb4uuLsSZSpdjj8/edit?usp=sharing COST FinAI participants]
+== Virtual Mobility Grants ==
+* Virtual Mobility Strategy [https://drive.google.com/drive/u/0/folders/1Vh845WzKjjIPv0zeHUEDRI5cIChqy_8M]
+* [[Information about VMGs]]
+== Acknowledgements ==
+[[Important_links#COST_Acknowlegdement]]
+== Disclaimers ==
+*For events: This event is based upon work from COST Action 19130, supported by COST (European Cooperation in Science and Technology), www.cost.eu
+*For publications: This publication is based upon work from COST Action 19130, supported by COST (European Cooperation in Science and Technology), www.cost.eu
+*For articles: This article is based upon work from COST Action 19130, supported by COST (European Cooperation in Science and Technology), www.cost.eu
+== COST FinAI Logo ==
+Please always use our [https://drive.google.com/file/d/18ZnYD50Rs2aAskUdnjnP-rGLDg1rLy7I/view?usp=sharing COST FinAI logo].