Standard Chartered Bank announced last Thursday (Jan 21, 2016) the signing of a multi-year partnership with A*STAR's Institute for Infocomm Research (I2R), Singapore's national information and communications technology research institute, to jointly work on data science research and experimentation.
This partnership will leverage the institute's expertise in information technology, communication and media; and tap their vast network of data scientists and software engineers.
According to Dr Michael Gorriz, Standard Chartered's Group Chief Information Officer, this partnership allows the two entities to explore the latest in data science and conduct new research to foster the bank's innovation initiatives in order to deliver more value to its clients with better engagement, improved service offerings, and new business models.
"We look forward to exploring and experimenting with advanced analytics and predictive modeling in this world-class environment. In this digital age, data are the new natural resource to be mined. Data science, using leading-edge tools and techniques to analyse structured and unstructured data, will enable the Bank to gain actionable business insights for better customer experience, business benefits and enhanced risk mitigation," added Anju Patwardhan, the Bank's Global Chief Innovation Officer.
"Strategic partnerships and alliances, such as this collaboration, bring together the top talent from both organisations to build competencies and shape the future of the financial sector. We plan to use Singapore as the hub for running data science projects globally. We will kick off with projects that focus on improving client insights, risk profiling and credit card security," she added.
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