The Edinburgh Futures Institute is celebrating the announcement of a new collaborative partnership across the University’s Data Driven Innovation platform. The Centre for Purpose-Driven Innovation in Banking will combine business insights from NatWest Group (NWG) with the University’s research, data and social science expertise to co-create data-driven, novel solutions for the future of banking.
The Centre, led by the Data-Driven Innovations hubs Edinburgh Futures Institute and the Bayes Centre, part of the Edinburgh and South East Scotland City Region Deal, will draw on expertise from more than 100 academics across the whole of the University.
Innovation activity will include skills and talent development for bank staff and university students and challenge-led research and development activities. The Centre will bring the latest academic developments and thinking in data science and AI, climate change, business and the social sciences to tackling issues in the banking sector.
Edinburgh Futures Institute Director Professor Chris Speed said:
“Collaboration and co-creation to focus on the key challenges facing our society now and in the future are at the heart of EFI’s work. We’re delighted to be working with colleagues in the banking sector and across the University to build a better future.”
Professor GB Ibikunle, Chair in Finance at the University of Edinburgh Business School and Director of industry, Economy & Society at the Edinburgh Futures Institute, said:
“The Centre for Purpose-Driven Innovation in Banking is another enhancement of the excellent student experience we provide at the University of Edinburgh. It will present our students and researchers with industry challenges and interactions to develop our talent for the future, and help our students secure graduate jobs. It will also ensure the impact of our research on the financial services sector and society beyond.”
The initiative was developed by Ksenia Grant, Edinburgh Futures Institute’s Director of Financial Services & FinTech Sector Engagement. Based at Edinburgh Innovations, the Directorate leads activity to bring the University’s wide-ranging research expertise to bear on the key issues facing financial services and fintech companies.