Description
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.
Action keywords
Artificial Intelligence - Fintech - Finance - Transparency - Financial Markets
Management Committee
Country | MC Member |
---|---|
Albania | |
Albania | |
Austria | |
Austria | |
Belgium | |
Bosnia and Herzegovina | |
Bosnia and Herzegovina | |
Bulgaria | |
Bulgaria | |
Croatia | |
Croatia | |
Cyprus | |
Cyprus | |
Czech Republic | |
Czech Republic | |
Denmark | |
Estonia | |
France | |
France | |
Germany | |
Germany | |
Greece | |
Greece | |
Hungary | |
Hungary | |
Iceland | |
Iceland | |
Ireland | |
Ireland | |
Israel | |
Israel | |
Italy | |
Italy | |
Latvia | |
Lithuania | |
Lithuania | |
Luxembourg | |
Luxembourg | |
Malta | |
Malta | |
Moldova | |
Montenegro | |
Netherlands | |
Netherlands | |
North Macedonia | |
North Macedonia | |
Norway | |
Norway | |
Poland | |
Poland | |
Portugal | |
Portugal | |
Romania | |
Romania | |
Serbia | |
Serbia | |
Slovakia | |
Slovakia | |
Slovenia | |
Spain | |
Spain | |
Sweden | |
Sweden | |
Switzerland | |
Switzerland | |
Türkiye | |
Türkiye | |
United Kingdom | |
United Kingdom |
Main Contacts
Action Contacts
COST Staff
Leadership
Role | Leader |
---|---|
Action Chair | |
Action Vice-Chair | |
Grant Holder Scientific Representative | |
Science Communication Coordinator | |
Grant Awarding Coordinator | |
WG1 Leader | |
WG2 Leader | |
WG3 Leader |
Additional roles
Role | Leader |
---|---|
Diversity team co-leader | |
Diversity team co-leader | |
Diversity team co-leader | |
Coordinator of network expansion | |
Scientific Advisory Board coordinator | |
Technical Coordinator | |
Working Group 2 co-leader | |
Diversity team leader | |
Science communication co-manager | |
Virtual Networking Support Manager | |
Chief Privacy Officer | |
STSM Coordinator | |
STSM Coordinator | |
STSM Coordinator | |
Virtual Grant Co-Coordinator | |
WG1 Co-Leader | |
WG1 Co-Leader | |
ITC CG Coordinator |
Working Groups
Number | Title | Leader |
---|---|---|
1 | Transparency in FinTech | |
2 | Transparent versus Black Box Decision-Support Models in the Financial Industry | |
3 | Transparency into Investment Product Performance for Clients |
Membership
Name | Working Group | Country |
---|---|---|
WG 1, WG 2, WG 3 | Spain | |
WG 1, WG 2, WG 3 | Spain | |
WG 1, WG 2, WG 3 | Italy | |
WG 1 | ||
WG 1, WG 2, WG 3 | ||
WG 1 | Estonia | |
WG 1 | Croatia | |
WG 1, WG 2, WG 3 | Spain | |
WG 1, WG 2, WG 3 | Hungary | |
WG 1 | ||
WG 1, WG 2 | Czechia | |
WG 1, WG 2 | France | |
WG 1 | ||
WG 1, WG 2 | ||
WG 1, WG 3 | Greece | |
WG 1, WG 2, WG 3 | Switzerland | |
WG 1, WG 2, WG 3 | Switzerland | |
WG 1, WG 2, WG 3 | Switzerland | |
WG 1 | Singapore | |
WG 1, WG 2 | Hungary | |
WG 1 | Netherlands | |
WG 1, WG 2 | United Arab Emirates | |
WG 1, WG 2, WG 3 | ||
WG 1 | Germany | |
WG 1, WG 3 | Croatia | |
WG 1, WG 2 | Italy | |
WG 1, WG 2, WG 3 | Hungary | |
WG 1 | United Kingdom | |
WG 1, WG 2 | Israel | |
WG 1, WG 3 | Italy | |
WG 1, WG 3 | Poland | |
WG 1, WG 2, WG 3 | Belgium | |
WG 1, WG 2 | Romania | |
WG 1, WG 2, WG 3 | Romania | |
WG 1, WG 2, WG 3 | Lithuania | |
WG 1, WG 2 | Slovenia | |
WG 1, WG 2 | ||
WG 1, WG 2 | Türkiye | |
WG 1 | Cyprus | |
WG 1, WG 2 | Romania | |
WG 1, WG 2 | Denmark | |
WG 1, WG 3 | ||
WG 1 | Croatia | |
WG 1 | Latvia | |
WG 1 | Netherlands | |
WG 1 | Luxembourg | |
WG 1, WG 3 | Greece | |
WG 1 | Germany | |
WG 1, WG 2, WG 3 | Israel | |
WG 1, WG 3 | Türkiye | |
WG 1 | Vietnam | |
WG 1, WG 2, WG 3 | Vietnam | |
WG 1, WG 2, WG 3 | Kosovo* | |
WG 1, WG 3 | Italy | |
WG 1, WG 2 | France | |
WG 1, WG 2 | North Macedonia | |
WG 1, WG 2, WG 3 | Romania | |
WG 1 | Estonia | |
WG 1, WG 2 | Slovakia | |
WG 1 | ||
WG 1, WG 2 | Iceland | |
WG 1, WG 3 | Netherlands | |
WG 1, WG 2, WG 3 | Italy | |
WG 1 | Germany | |
WG 1 | ||
WG 1, WG 2 | United Kingdom | |
WG 1, WG 2, WG 3 | Denmark | |
WG 1, WG 2, WG 3 | ||
WG 1, WG 3 | Poland | |
WG 1, WG 2, WG 3 | Malta | |
WG 1, WG 2, WG 3 | ||
WG 1, WG 2, WG 3 | Germany | |
WG 1 | ||
WG 1 | Italy | |
WG 1 | ||
WG 1, WG 2, WG 3 | ||
WG 1, WG 3 | Ireland | |
WG 1, WG 2, WG 3 | Austria | |
WG 1 | Taiwan | |
WG 1 | ||
WG 1, WG 2, WG 3 | Romania | |
WG 1, WG 3 | Ireland | |
WG 1, WG 2 | Croatia | |
WG 1, WG 2 | Malta | |
WG 1, WG 3 | Italy | |
WG 1, WG 2 | Bosnia & Herzegovina | |
WG 1 | ||
WG 1, WG 2 | Portugal | |
WG 1, WG 2, WG 3 | Kosovo* | |
WG 1, WG 3 | Albania | |
WG 1, WG 2, WG 3 | Greece | |
WG 1, WG 3 | France | |
WG 1, WG 2 | Türkiye | |
WG 1, WG 2, WG 3 | ||
WG 1, WG 2, WG 3 | Albania | |
WG 1, WG 2 | Switzerland | |
WG 1 | ||
WG 1, WG 2, WG 3 | Türkiye | |
WG 1, WG 2, WG 3 | Albania | |
WG 1, WG 2 | United Kingdom | |
WG 1, WG 2, WG 3 | Cyprus | |
WG 1, WG 2, WG 3 | Denmark | |
WG 1, WG 2 | Italy | |
WG 1, WG 2, WG 3 | Moldova | |
WG 1, WG 2, WG 3 | ||
WG 1, WG 2, WG 3 | Hungary | |
WG 1, WG 2, WG 3 | Ireland | |
WG 1, WG 2, WG 3 | North Macedonia | |
WG 1, WG 2, WG 3 | Spain | |
WG 1, WG 2, WG 3 | ||
WG 1, WG 2, WG 3 | Bosnia & Herzegovina | |
WG 1, WG 2, WG 3 | Bulgaria | |