Upcoming Events
CIFEr 2024 Conference - October 22-23, 2024 at the Stevens Institute of Technology
Fall 2024 Industry Advisory Board Meeting - October 24-25, 2024 at the Stevens Institute of Technology
Financial Fraud Workshop - Fall 2024
Climate Impact Conference - Coming in Spring 2025
Past Events
CRAFT Spring 2024 Industry Advisory Board Meeting at RPI
At the end of March 2024, the Center for Research toward Advancing Financial Technologies (CRAFT) held its 5th bi-annual Industry Advisory Board meeting at Rensselaer Polytechnic Institute in Troy, NY. The conference coincided with RPI’s bicentennial celebrations.
The conference began with breakfast and networking, and then opening remarks were given by CRAFTs Director Dr. Steve Yang, co-director Dr. Aparna Gupta, and managing Director Dr. George Calhoun. These individuals make up CRAFTs “leadership team” and discussed the centers vision, capabilities, and value proposition.
The next conference segment was titled “Past, Present, and Future of Fintech at RPI – A Bicentennial Celebration” which was chaired by Dr. Aparna Gupta. This segment included a keynote titled “Four Innovations: An Engineer's Journey through 40 years of Financial Management” which was given by Mr. John Hill ’77, Former Assistant Commissioner for Innovation and Transformation (retired), U.S. Department of the Treasury, Office of Fiscal Service, a fireside chat between Dr. Kumar Bhaskaran (IBM), Mr. Steve Silberstein, Mr. Paul Lashmet (Park Avenue Finance) on “Reflections on RPI Experience and Impact”, and concluded with a presentation Dr. Oshani Seneviratne and Dr. Xiaoyang Liu, both computer science faculty at RPI, on “Defining the Future Agenda”.
Next was an NSF presentation on the Industry/University Cooperative Research Center model (I/UCRC) by the CRAFTs NSF program evaluator Kumar Mohan.
Follow the I/UCRC presentation was the first batch of project proposal presentations with a “computing and technological innovations” theme. Each time the CRAFT center hosts a “IAB” or “Industry Advisory Board” conference, research proposals by faculty from Stevens Institute of Technology and Rensselaer Polytechnic Institute are presented to CRAFTs industry advisory board members. These members then leave feedback and comments during live presentations, and then vote on the projects the next day at a closed-door meeting. The projects with the highest votes are then finalized by CRAFTs “Academic Leadership Team” or “ALT” and set to be funded each June 1 for one year at a $100,000 each. For this specific segment, the presentations included “Never say never - Exploration and exploitation in quantum optimization for finance”, PI: Dr. Zhenyu Cui (Stevens), “Analyzing XBRL with AI ChatBot”, PI: Dr. Xiaoyang Liu (RPI), and “Smart Encoding and Automation of Over-The-Counter Derivatives Contracts”, PI: Dr. Oshani Seneviratne (RPI).
This proposal segment was followed by a lovely on-campus lunch.
Next was a keynote talk titled “Insurtech Innovations and Opportunities” which included speakers Mr. Karim Derrick, Chief Products Officer and Mr. Richard West, Global Head Client Innovation, both of Kennedy’s IQ. The session was chaired by Dr. Steve Yang.
After the keynote the next batch of project proposal presentations were made on the theme “AI Innovations”. They included “Large Transaction Models (LTMs) for FinTech”, PI: Dr. Kristin Bennett (RPI), “AI Compliance Officer”, PI: Dr. Zachary Feinstein (Stevens), “A Neurosymbolic Semantic Layer for Intentional Business Intelligence”, PI: Dr. Thomas Ferguson (RPI), and “Representational Harms in Foundational Models for Financial Services”, PI: Dr. Feng Mai (Stevens). The session was chaired by Dr. Aparna Gupta. 7 total research project proposals were presented at this Spring 2024 IAB conference.
After this second round of presentations, attendees had a coffee break and were able to discuss the proposals further with the PIs during a “poster session” in which reach proposal was summarized and displayed on a standing poster board.
Following the poster board session was a keynote talk on “Cloud Computing for Financial Services” by Mr. Ravinder Khokhar, EVP & Global Head of Cloud for Financial Services, Capgemini and was chaired by Dr. Aparna Gupta. Finally, there was a panel discussion on “Addressing Deep Fake in Financial Services”. It included panelists Mr. Rajesh Iyer (Capgemini), Mr. Richard West (Kennedys) and was moderated by Ms. Deborah Newberry, Kennedys IQ. Closing the conference was light refreshments, networking, and an additional poster session.
Generative AI Workshop
In November 2023, CRAFT hosted its second workshop of the year - a Generative AI Workshop at the Stevens Institute of Technology. Presenters included Sudhir Pai, Executive Vice President, Chief Technology & Innovation Officer, Member of FS Exco - Financial Services SBU at Capgemini, Adam Faanes, Chief Technology Officer, 4Thought Technologies, Jeffrey Nickerson (Stevens), Feng Mai (Stevens), Xiaoyang Liu (RPI), Chang Lu (Stevens) and Kevin Pitts (Stevens). Presentations included “Multi-Label Clinical Time-Series Generation via Conditional GAN”, “Generative AI and Ideation”, “Dissecting Corporate Culture Using Generative AI: Insights from Analyst Reports”, “Data-centric FinGPT: Open-Source Financial Large Language Models”, “Race2GenAI”, “Generative AI Trading Strategies: Trust and Explainability in 4Thought Studio”, a discussion on proposed Fintech Education Certification. The workshop was followed by a reception.
Please see the agenda for the event here.
Fall 2023 Industry Advisory Board Meeting
CRAFT’s fourth bi-annual Fall 2023 IAB conference took place on November 2-3, 2023. The conference was hosted by Bank of America. This was the first time that an industry member hosted such an event. By having the conference at such a central location, over 100 guests were able to attend. Day 1 of the Conference included presentations from CRAFT and academic leadership, a presentation from host Bank of America, a academic presentation by the University of Manchester, keynote addresses by industry partner the United Nations, and prospective members Imperial College and UK Fin+, five newly submitted research project proposal presentations including “Large Transaction Models for FinTech” PI Kristin Bennett (RPI), “Semantically Enhanced Graph Neural Networks for Event-Driven Financial Impact
Analysis” PI Mohammed Zaki (RPI), “A Next Generation AI-Powered Financial Advisor” PI Jacek Ossowski (Stevens), “An initial Framework to understand Financial Systems Resilience” PI Jose Ramirez-
Marquez (Stevens), “Unpacking Failed Big-Ticket M&A: Exploring Behavioral Characteristics and Decision-
Making Dynamics Using Deep Learning Models” PI Suman Banerjee (Stevens), and panel discussions on workforce development and fintech commercialization.
Please see the agenda for the event here.
Spring 2023 Industry Advisory Board Meeting
CRAFT's third bi-annual Spring 2023 Industry Advisory Board Meeting on March 30, 2023. This meeting will feature 15 research proposal presentations by CRAFT affiliated faculty, keynote presentations on FinTech Venture Capital and Start-up Ecosystems (Speaker: Mr. Jeff Stewart, Co-Founder and Managing Director, Global Public Offering Fund) and Fraud and Anomalies Detection in Financial Services (Speaker: Rick Hoehne, Sr. Partner, Leader – Fraud, and Financial Crime Center of Competency, Data & Technology Transformation, IBM), presentations by CRAFT academic prospective members, as well as CRAFT leadership. The event is jointly hosted by Rensselaer Polytechnic Institute & Stevens Institute of Technology and will take place at Rensselaer Polytechnic Institute campus - BioTech Auditorium, 110 8th Street, Troy, NY 12180.
Workforce Development Workshop
CRAFT will be hosting a Workforce Development Workshop on Wednesday, February 22, 2023. Come learn about career growth strategies and the hiring practices of fintech leaders. The workshop will consist of 2 panel discussions, one led by industry, the other by students from Stevens and RPI. Panelists will include CRAFT's industry partners from Bank of America, Charles Schwab, CME, and Vanguard. > More info
News
Stevens Hosts Fall CRAFT Industry Advisory Board Meeting
The Stevens School of Business proudly hosted the 7th Center for Research Toward Advancing Financial Technologies (CRAFT) Industry Advisory Board Meeting, bringing together fintech’s leading minds for a dynamic exchange of ideas and innovations. > More
CRAFTing the Future with Generative AI
During CRAFT second workshop of 2023 at Stevens, new research and tools showcase AI’s potential to shape the financial industry during CRAFT workshop. > More
CRAFT Holds Annual Advisory Board Meeting
CRAFT held its fifth Industry Advisory Board Meeting. For the first time, the meeting was held at a CRAFT industry partner headquarters in New York City. The collaboration between Rensselaer Polytechnic Institute, Stevens Institute of Technology and the industry host proved to be very beneficial in solidifying many long-lasting relationships. > More
Partnering between Universities, Governments and Fintech Companies
November 2022's IAB meeting facilitated real-time collaboration between researchers and industry practitioners concerning the future of fintech. > More
Crafting the Future of Fintech
In late March, the Center for Research toward Advancing Financial Technologies (CRAFT), Stevens' joint venture with Rensselaer Polytechnic Institute (RPI) and the first fintech research organization backed by the National Science Foundation, held a two-day industry advisory board meeting at the RPI campus in Troy, New York. >More
Stevens Launches Pathbreaking CRAFT Fintech Research Center With RPI, NSF
Stevens Institute of Technology hosted the launch of the first-ever National Science Foundation-backed (NSF) fintech research center October 28-29 in a two-day hybrid conference with Rensselaer Polytechnic Institute (RPI), industry members, NSF officials and others. > More
Annual Reports
2023 Annual Report
As emerging technologies continue to transform the financial industry, CRAFT is well positioned to lead this change. In 2023, six new industry members joined the consortium, including a partnership with the NGO Committee on Private Sector Development at the United Nations that will accelerate the Center’s work globally. CRAFT is currently in discussions with the New Jersey Economic Development Agency to establish a state level Fintech Innovation Center. Workshops on workforce develop and generative AI provided opportunities to enhance members’ understanding of where the financial sector is and where it’s going. The five research projects voted upon my members include:
“Blockchain Interoperability for Business Organizations”
“Efficient, Private, and Explainable Federated Learning for Financial Crime Detection
“Extending, Simulating and Scaling Decentralized Exchanges Made by Automated Market Makers”
“Systemic Risk Implications of Central Bank Digital Currencies”
“Quantum Algorithms for Tail Risk in Loan Portfolios”
2022 Annual Report
As the global economy emerges from the shadows of the COVID pandemic, the fintech industry, while enjoying continued growth, faces challenges such as the crypto winter and ESG washing. Throughout 2022, CRAFT refined its strategic planning process to update its research map to better promote and align our commitment to our stakeholders. The center conducted surveys and workshops with our members to identify seven important vertical themes, which include explainable AI, decentralized finance and quantum computing, while keeping the related social concerns of fairness, accountability, responsibility, privacy and ethics in clear sight. This report provides additional details on the vertical themes and related research priorities.