RETAIL FINANCE AND INSURANCE: Impact of Technical Innovation, Through Majors and FinTech

Paris, March 27 & 28, 2017

 

Chambre de commerce et d’industrie de région Paris Ile-de-France

27, avenue de Friedland,
75008 PARIS, FRANCE

 

MONDAY 27

Plenary Session I –   The FinTech Revolution and its Regulation

Guest speaker: Fatih GUVENEN, Professor of Economics, University of Minnesota.

The digital revolution is under way in financial services. Technical innova­tions lead to the creation of new and possibly cheaper services that are readily available for individuals through web platforms or mobile apps. New databases, new forms of payment processing, trading platforms, peer-to-peer lending platforms and robo-advisors are fast developing and democratizing financial services. They also raise many questions. How can we design safe and understandable financial products available for the lar­gest number of individuals? How are consumers to be protected? How can fintech be regulated?

 

 

TUESDAY 28

Plenary Session II – The Future of Deep Learning in Finance / Insurance

Guest speaker: Nicholas POLSON, Professor of Econometrics and Statistics, University of Chicago.

Predictive models are at the core of asset return analysis, credit granting, recommendation systems, time varying individualized prices, or stress exercices. Deep learning is an attempt to extend the potential of standard models as neural network, component analysis, factor models, logit regressions…with the following objectives: structure in a hierarchical way the causal nonlinear dependencies between the data input variables and the target output variables, allow for the joint use of disparate databases, update in an automatic way and in real time the model when new data arrives (deep learning is a form of machine learning), while being able to send warning when the performance of the algorithms become too poor. Deep learning raises the question of the role of human in semi-supervised learning: how to clean the input database and decide of their respective accuracies? How to mix robo advise, human advise, expert advise? Machine voice and human voice? In case of a warning, who is deciding of a change of the algorithms and in which directions, machine or human?…

 

Plenary Session III – Blockchain

Guest speaker: Campbell HARVEY, Professor of Finance, Duke University.

Blockchain, and more generally Distributed Ledger Technology (DLT) holds the promise of revolutionizing the financial ecosystem.

After a short introduction regarding the technology itself meant to establish a solid ground layer for our conversation, our panel will walk you through:

–          Some business implications DLTs could have across the financial ecosystem,

–          The specificities of some of the main technologies,

–          The impressive amount of cooperation the DLT has brought between market participants,

–          The limitations, drawbacks or difficulties DLTs and markets participants will have to overcome before the technology can be widely adopted.

 

Lien site RF2017 :

http://risk2017.institutlouisbachelier.org/?lng=EN

Lieu

Chambre de Commerce et d’Industrie de Région Paris-Ile-de-France 27 avenue de Friedland, Paris, 75008 France