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Bengt Holmström, 2016 Nobel Laureate in Economics, one of our academic member and Profession of MIT, delivered a speech on The Future of Finance.

Digital technology is empowering new financing models via low-cost local access and information processing. Data could become the new financing pledge in the digital age, propelling financial development more inclusive.Just as how credit card companies evaluate users’ credit in advance, AntFinance and other financial institutions uses AI algorithm collects and analyses massive data conduct credit risk assessment on borrowers.

Holmström’s ending remark highlighted that FinTech should not be an imaginary fear for the banking industry.