Virtual Mobility Grants during 2023

Title: Fintech: a new way for women’s digital financial inclusion

Grant Holder: Albulena Shala

Description of Activities and results: Female executives are already at a disadvantage since they frequently experience fundraising disparities. However, investors are really more likely to support women-owned enterprises. Businesses started by women generate more money overall than those started by men more than twice as much per unit invested. Despite the fact that women have been disproportionately affected by the pandemic and have experienced extreme financial hardship in addition to enormous job losses as a result of their predominance in the unorganized sector, they can begin to imagine a smoother path from exclusion to inclusion with the aid of financial technology. In the financial landscape, technology may undoubtedly act as a huge leveller of the playing field and a game changer. Physical impediments have been removed, and with the aid of gender-focused legislation, it is now possible to depict a more enduring future for financially independent women. Closing these gender inequalities will take time, but fintech can navigate these rough seas with ease. So to see the possibility of fintech helping women through all these barriers, we did a research study in literature about this topic. After this we did a survey among our countries, and the result of it is presented in Women in Fintech III (Coimbra). Also, thanks to Professor Maria Iannario, we organized an international competition between students (Best WI-FI 2023 Young Researcher Paper—FinTech Contest), and the best paper won a prize from the budget of this WMG. Fintech: a new way for women’s financial inclusion — is a project proposal organized by members of the Women in Fintech Conference Committee who is also represented by the University of Tirana, the University of Naples Federico II, the University of Prishtina “Hasan Prishtina”, Kadir Has University (Turkey), Babeș-Bolyai University (Romania), University of Oradea (Romania), University of Pavia (Italy), Poznań University of Economics and Business (Poland) and University College Dublin (Irland).

Report: here

Title: Position paper aimed at regulators and policy-makers, on methodology for testing AI techniques in real-time

Grant Holder: Galena Pisoni

Description of Activities and results: The aim of this VMG was to initiate new research collaboration between partners from 5 different countries on papers for policy-makers and regulators on how to test AI techniques in real time. The output is a literature review and in-depth analysis on (i) the specifications and requirements from a regulation point of view, (ii) overview on techniques that can be used for regulation and AI use in finance, (iv) off-the-shelf components and widgets that can be used for testing AI models. The paper furthermore discusses the use of AI for the management and improvement of financial companies’ business processes, and how to ensure responsible AI use in financial enterprises for all of their operations. We proposed an information system design for responsible and trustworthy finance, compliant with regulation requirements, and well- defined control points in financial companies information systems for regulation and creation of associated audits to enforce new policies and regulation principles. We outlined questions and challenges financial companies will need to solve to implement responsible AI operations in line with existing regulation. 

Report: here

Title: Bibliometric Research on COST member research visibility

Grant Holder: Wolfgang Karl Härdle

Description of Activities and results: Quantification of scientific output is important in any area of science. In this COST VMG we jointly develop a variety of quality metrics to quantify the results and contents of the research published through the FinAI COST action. We are creating metrics that can justify and explain the action’s scientific output stratified along different features. The VMG results will give us a clear picture of the achieved publication portfolio and will thus create benefits for the FinAI dependent institutions across the EU. The results will be presented in a two-fold manner. First of all, we present guidelines for the decision-making process on future funding that is clearly defines the coordinates of the strengths and weaknesses of research. Secondly, participants will benefit from having a clear view about how established COST teams in collaborative research may profit for future publication output.

Report: here