Fintech: Southeast News

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Posted April 20, 2021

 

The Federal Deposit Insurance Corporation (FDIC) formed a strategic partnership with Duke University’s Pratt School of Engineering to support technological innovation in the banking and financial services industries.

“This exciting collaboration will amplify our efforts to drive innovation in the banking ecosystem and within the FDIC,” Sultan Meghji, FDIC’s chief innovation officer, said. “We share a common interest to better understand the opportunities and the risks of new technologies and to build a first-of-its-kind strategic innovation program.”

This is the continuation of a longstanding relationship between the FDIC’s Center for Financial Research and Duke University. It provides a way for the two organizations to collaborate in different areas of innovation, including artificial intelligence, risk management, quantitative research, and cybersecurity.

“The opportunity to partner with the FDIC, and in particular Sultan, will allow our students to work on the cutting edge of finance, risk management, credit, and emerging asset classes,” Jimmie Lenz, director of Duke’s Master of Engineering programs in FinTech and Cybersecurity, said. “Our FinTech and Cybersecurity graduate students will be leveraging the applied learning that defines these programs and students to develop and deliver solutions to assist the largest bank insurance organization in the world. This partnership highlights the dramatic changes taking place in finance and recognition by the FDIC of the key role Duke Engineering is playing in this dynamic environment.”

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