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Data Science in Banking - Opportunities and Risks

Thursday 3 December 2020 12:30 - 14:00

Spaces available

Retail banking is going through a period of substantial change as it moves into the digital age. Banks have large amounts of data about their customers and about their risks. Open data application programming interface (APIs) and data science are enabling banks to use their data to offer innovative and sometimes personalised services. Data science is also adding value in risk areas such as fraud detection and cyber security. At the same time, the move to online banking is making it easier for firms including fintechs to enter banking without having to establish branch networks. However, there are risks, such as possible mis-use of customer data and possible bias in machine learning algorithms.

At this webinar, the speakers will discuss these developments in various geographic areas and will consider ethical issues in data science.

Confirmed speakers:

Chair:

John Taylor, Immediate Past President
After gaining a B.Sc. and Ph.D. in Pure Mathematics from The University of Glasgow, John started his career as a trainee actuary at Standard Life in 1994. Since qualifying as an actuary, John has focused on marketing and distribution in pensions, savings and insurance. 

John spent most of his career in executive level roles with a variety of product providers, including as Managing Director at NEST. Most recently, John worked as a partner at Hymans Robertson LLP, working in what’s commonly described as “robo–advice”. He is now building a non-executive portfolio. 

Speakers:

Mahidhara Davangere, Pramartha
Mahidhara Davangere is currently one of the Council Members of the IFoA and also Founder and Managing Director of Pramartha. He founded Pramartha in 2010 which has now grown across several geographies.  He focuses on the wider applications of Actuarial Science like Data Science, Banking, Finance and Investment. He has over 17 years of experience in Research and financial valuation covering industries like Banking, Insurance and financial sectors. He is also advising several FinTech firms focusing on Deep Learning and AI techniques in the Banking and Insurance domain.

He graduated in BSc Physics, Mathematics and Computer Science from Bangalore University and pursued MBA from Christ University. Subsequently He also pursued MSc in Mathematics and Masters in Finance and Control (MFC). . He qualified as an Associate Actuary from IFoA in 2013

Phillip Darke
Philip has 15 years’ experience in pensions modelling and de-risking at Mercer in Edinburgh. In 2018 he was awarded an EPSRC scholarship to carry out PhD research at Newcastle University, where he uses machine learning to model and predict health trajectories using Electronic Health Record data. Philip sits on the Scottish Board and Electronic Health Records working party and has spoken on data science at a number of IFoA events.

Rendani Mbuvha, University of the Wirwatersrand
Rendani is a lecturer in the School of Statistics and Actuarial Science at the University of the Witwatersrand. He is a fellow of the Actuarial Society of South Africa (FASSA) and a holder of the Chartered Enterprise Risk Actuary (CERA) designation. He holds an MSc in Machine Learning from KTH, Royal Institute of Technology in Sweden and is a current recipient of a Google PhD Fellowship in Machine Learning which supports his PhD research at the University of Johannesburg. He has served in various analytics and actuarial roles in large financial services and AI consulting organizations in South Africa and Sweden.

 

Crawford Taylor, Nude Finance
Crawford is the founder and CEO of Nude, a savings and investment platform, using data and behavioural science, to help people achieve their goals in life.  Nude's initial focus is rebuilding the home-buying experience to make it easier and more enjoyable than ever before. 

He was previously a senior owning partner at Hymans Robertson LLP and actuary to some of the largest, best funded and risk managed pension schemes in the UK including Aviva, SSE and Molson Coors.  After spending decades helping older people save for retirement, he's now helping the younger generation save for and own their first home

 

 

Alexander Labram, Grant Thornton

Event organiser

Contact Niki Park for more information.

Niki.Park@actuaries.org.uk

020 7632 2152

This webinar will take place from 12.30-14.00 GMT

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Pricing information

Member £25.00
Non-member £45.00

 

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