London: Innovation is accelerating. How financial institutions are adapting – and the new technology they’re using to do it – was the focus of the recent Moody’s Analytics Innovation Summit in London. The growing role of artificial intelligence and collaborative development in fintech innovation were two of the main topics highlighted at the conference held by Moody’s Analytics, a global provider of financial intelligence.
Keith Berry, Executive Director of the Moody’s Analytics Emerging Business Unit (EBU), kicked off the event by explaining how the company approaches innovation. He emphasized the importance not only of collaborating with startups, but doing so in mutually beneficial ways. The EBU leads the efforts of Moody’s Analytics to better understand and adapt to an environment characterized by widespread, technology-driven change.
“Moody’s Analytics believes strongly in the value that comes from working with startups,” said Mr. Berry. “With their agility and unique expertise, these new firms help us get the most out of our existing data and resources as we build new solutions. In turn, our business partners can learn from our expertise and gain insight from our customers.”
The CEOs of several of these startups delivered “lightning pitches”: brief explanations of their offerings and how they collaborate with financial institutions on next-generation solutions. These companies include Nivaura, Lacuna,Stratumn, Credit Data Research
Ashit Talukder, Head of Artificial Intelligence at Moody’s Analytics, and Cristina Pieretti, Managing Director for Strategy and Innovation, discussed the rapidly expanding role of artificial intelligence in the financial services industry. They also previewed a new Moody’s Analytics project bringing artificial intelligence to financial spreading.
“It is clear that artificial intelligence (AI) is transforming the financial services industry,” said Mr. Talukder. “It is our view that the impact from this technology will continue to grow exponentially. The future of AI is promising.”
Ms. Pieretti spoke about the progress Moody’s Analytics is making on its solutions driven by AI. “We are making significant inroads with AI to develop solutions that help our clients make better decisions, faster. Our automated spreading initiative is an example of how we can enable clients to automate their low-value tasks and make their workflows more productive and consistent.”
Moody’s Analytics provides financial intelligence and analytical tools supporting our clients’ growth, efficiency, and risk management objectives.