Leveraging ‘big data’ in banking industry – including ethics of doing so – subject for series of webinars

Opportunities and challenges in leveraging big data for the banking industry will be probed in a series of five public webinars that get started next month and that will include banking industry leaders, academics, and technologists, the federal insurer of bank deposits said Monday.

In a release, the Federal Deposit Insurance Corp. (FDIC) said the webinars will look at the the use of new data analytics to improve the efficiency, competitiveness, and security of the nation’s banking and financial system. According to FDIC Division of Insurance and Research Director Diane Ellis, the webinars will also delve into the ethics of artificial intelligence and machine learning. The agency will also use the webinars to explore how it can improve financial regulation in the realm of big data, Ellis indicated.

The webinars, offered in conjunction with the University of Santa Clara in Santa Clara, Calif., and titled “Banking on Data: Great Possibilities, Great Responsibilities,” will be held beginning April 15. Focus areas (and dates) for each webinar are: Possibilities of Data in Finance and Banking (April 15); What Do New Data Mean for Banks and Consumers? (May 20); Ethics of Artificial Intelligence and Machine Learning (June 17); Open Banking (Sept. 16); and Improving Financial Regulation (RegTech/SupTech) (Oct. 21).

FDIC and University of Santa Clara to Host ‘Big Data’ Webinar Series