Today, public policies and programs rely heavily on data-driven insights. For policymakers, analysts and academics, mountains of data, especially big data, offer great possibilities—and challenges. The FDIC is partnering with Santa Clara University (SCU) Leavey School of Business to host a new webinar series, “Banking on Data: Great Possibilities, Great Responsibilities.” FDIC Division of Insurance and Research Director Diane Ellis and Professor Sanjiv Das of SCU will co-host five monthly webinars for both innovators and regulators. The series builds on the themes of the 2019 FDIC FinTech Research Conference and will feature academic paper presentations and policy-focused panels. The presentations will highlight the opportunities and challenges for financial institutions, consumers, and the financial system created by the use of big data and applied technologies. This bicoastal webinar series will bring together the FinReg and policy sector on the East Coast with the tech sector on the West Coast.
On April 15, 2021, FDIC Chairman Jelena McWilliams provided opening remarks for the first webinar of the series, “Possibilities of Big and Alternative Data in Finance and Banking,” which explored the potential uses of big and alternative data in banking and what that means for bankers and their customers. A video recording of the April 15th session is now available. FDIC Chief Innovation Officer Sultan Meghji will moderate the next webinar, scheduled for May 20, 2021, which will discuss financial institution use of big and alternative data to provide products and services. Future webinars will dive into the ethics of artificial intelligence and machine learning, open banking, and how we can improve financial regulation in the world of big data.
WEBINAR 1: Possibilities of Big and Alternative Data in Finance and Banking
April 15, 2021 (3:00pm - 4:30pm ET)
Research and analysis on the application of methodologies, tools, and techniques to derive information, trends, and patterns from large data sets.
WEBINAR 2: What Do New Data Mean for Banks and Consumers?
May 20, 2021 (1:00pm - 2:30pm ET)
Provide policy and consumer impact perspectives on the use of big data and alternative data by financial institutions to provide services and products.
Mr. Meghji is a nonresident scholar in the Cyber Policy Initiative at the Carnegie Endowment for International Peace. His research focuses on the architecture of the global financial system, cyber and critical infrastructure security, and the impact of artificial intelligence and quantum computing. He is also an adjunct professor at Washington University’s Olin Business School, and a distinguished member of the Bretton Woods Committee and the Missouri Advisory Committee for the U.S. Global Leadership Coalition. Mr. Meghji has served as an advisor to the U.S. Treasury, the Group of Seven (G7), the Office of the Comptroller of the Currency (OCC), and the Federal Bureau of Investigation (FBI) in the areas of cybersecurity, quantum computing, and artificial intelligence.
Before joining the firm in 2019, Wendy was CMO at Franklin Templeton where she led a team of over 650 people across 10 countries, supporting the institutional and retail business globally. She served in CMO and COO roles at start-up firms such as Figure Technologies, Inc. and Internet Capital Group. She also worked extensively in financial services as an Associate Principal at McKinsey & Company.
Wendy’s consultative, Fintech and asset management proficiencies coupled with her entrepreneurial expertise building start-ups has influenced her critical strategic thinking, digital prowess, and operational know-how. She is an Associate Editor for the Journal of Investment Management and an advisor to multiple startups.
Wendy earned a B.S. degree in Business Administration with a concentration in Management Information Systems from the University of Illinois at Urbana-Champaign and a MBA from the Stanford Graduate School of Business.
Prior to establishing FinRegLab, Melissa served as the U.S. Treasury Department's Deputy Assistant Secretary for Consumer Policy. In that role, Melissa helped to build the first government offered preretirement savings product, the myRA. She also established the $5 million Innovation Fund to support research and strategies to improve consumers’ financial health and their access to safe and affordable financial products and services. Melissa has testified before the Senate Banking and House Financial Services Committees, and she has spoken extensively to policy, industry, and consumer advocacy audiences.
WEBINAR 3: Ethics of Artificial Intelligence and Machine Learning
June 17, 2021 (1:00pm - 2:30pm ET)
Policy and consumer impact perspectives on explainability, ethics, expectations vs. reality, and bias.
WEBINAR 4: Open Banking
September 16, 2021 (1:00pm - 2:30pm ET)
Policy and consumer impact perspectives on enabling “open banking” through APIs, national vs. state privacy laws, data ownership, and liability standards.
WEBINAR 5: Improving Financial Regulation (RegTech/SupTech)
October 21, 2021 (1:00pm - 2:30pm ET)
State, national, and international perspectives on technologies that support regulatory agency functions, regulatory frameworks and processes, and innovations in the financial regulatory domain. How can new technology enable innovation that leads to better outcomes for consumers, banks, and regulators?
If you have questions about the webinar series, please email your inquiry to SHR_BnkonDataCf-2021@FDIC.gov.
Stay up to date with the Banking on Data: Great Possibilities, Great Responsibilities Webinar Series by following #FDICResearch.
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