CityU and JD Digits launch joint laboratory in financial technology and engineering
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Plans for a joint laboratory in financial technology and engineering have been unveiled by City University of Hong Kong (CityU) and JD Digits, a leading digital technology company in mainland China, under a strategic collaborative agreement signed by both parties on 5 December.
The joint laboratory will research areas including, but not limited to, asset pricing, financial risk monitoring and user behaviour. It will provide innovative solutions for the development of the global financial market, promote exchange and training, organise academic forums, and develop and share resources.
The strategic agreement was signed by Professor Lu Jian, CityU’s Vice-President (Research and Technology) and Mr Gao Zhihong from JD Digits’s Risk Management Department.
The ceremony was witnessed by Professor Way Kuo, CityU President, Professor Alex Jen Kwan-yue, Provost, and Ms Shen Xiaochun, Deputy General Manager of Risk Management Department at JD Digits. Guests attending the ceremony included Professor Li Duan, Acting Dean of the School of Data Science (SDSC), and Dr Wu Qi, Assistant Professor of SDSC.
According to the agreement, the two parties will conduct research on data modelling and analysis, and jointly develop innovative applications of financial engineering, technologies as well as big data in risk-based loan pricing.
JD Digits will share practical experience in adopting financial technology, while CityU will help JD Digits further enhance its scientific research capability and groom management professionals.
Professor Kuo said CityU had world-class faculty in the field of data science and the setting up of a joint laboratory with JD Digits, a well-established company, would drive the development of data science in Hong Kong.
“The laboratory provides an opportunity for technology companies, academics and students to explore new models in the research and application of financial technologies,” Professor Jen said.
He noted that CityU had recently launched its School of Data Science and the Hong Kong Institute for Data Science. “The laboratory represents another milestone in utilising data science to promote the financial development of Hong Kong.”
Ms Shen said JD Digits had successfully reduced the non-performing asset ratios of corporations by introducing machine learning and artificial intelligence to financial risk management. She said she expected that the strategic partnership with CityU would enhance JD Digits’ strength in pricing financial products and managing financial risk.