{"id":2076,"date":"2015-10-22T14:31:27","date_gmt":"2015-10-22T13:31:27","guid":{"rendered":"https:\/\/connects.soton.ac.uk\/?p=2076"},"modified":"2015-10-22T14:31:27","modified_gmt":"2015-10-22T13:31:27","slug":"project-to-reduce-risk-in-finance-2","status":"publish","type":"post","link":"https:\/\/generic.wordpress.soton.ac.uk\/southamptonconnects\/2015\/10\/22\/project-to-reduce-risk-in-finance-2\/","title":{"rendered":"Project to reduce risk in finance"},"content":{"rendered":"<figure><a href=\"https:\/\/connects.soton.ac.uk\/wp-content\/uploads\/2015\/10\/Article-Page-Banner-image-Data.jpg\"><img decoding=\"async\" class=\"alignnone size-full wp-image-2075\" src=\"https:\/\/connects.soton.ac.uk\/wp-content\/uploads\/2015\/10\/Article-Page-Banner-image-Data.jpg\" alt=\"Article Page Banner image Data\" \/><\/a><\/figure>\n<h2>A Southampton research team has been awarded \u00a3400,000 by the Shenzen government in China and Audaque Ltd, one of the world\u2019s most innovative data management companies, for their project to build a big data-supported financial services platform.<\/h2>\n<p>Layering academic, technical and industrial expertise, the project aims to develop a sophisticated system that can process massive quantities of financial data from banks, securities institutions, small-loan companies, peer-to-peer (P2P) and people-to-business (P2B) internet finance companies to support decisions made by financial institutions.<\/p>\n<p>The challenge is to build a sophisticated data platform applicable internationally, which brings together data management and financial assessment of individuals\u2019 risk in real time. The University\u2019s longstanding partnership with top financial firms in London will help ensure its functionality.<\/p>\n<p>The team, comprising Professor Johnnie Johnson, Professor Vanessa Sung and Dr Tiejun Ma of the Centre for Risk Research at the University\u2019s Southampton Business School, has ambitious plans.<\/p>\n<blockquote><p>\u201cWe want to be a one-stop shop. Ultimately, we aim to influence how financial authorities and others form and manage risk-management policy. At the moment, assumptions and decisions are made in the context of a shifting financial situation and are often ad hoc. When something goes wrong \u2013 the 2007 crash, for example \u2013 the system is fragile and liable to collapse,\u201d says Tiejun.<\/p><\/blockquote>\n<p>The platform the team is proposing will significantly reduce risk and increase stability, improving social efficiency and people\u2019s life experience without comprising business, economic and social sustainability and security, he explains. \u201cIn particular, the accurate assessment of risk will enable damaging systemic risks, such as that posed by sub-prime lending which led to the financial crisis, to be avoided. Our platform will contribute to the resilience of the global economic system.\u201d<\/p>\n<p>\u201cThis is a truly international, collaborative project which brings significant opportunities for Southampton,\u201d says Tiejun. \u201cThe University is uniquely placed to tackle the current problems with big data analysis \u2013 misinterpretation, modelling and speed \u2013 and to build a platform that enables the accurate financial assessment of individuals in real time.\u201d\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Southampton research team has been awarded \u00a3400,000 by the Shenzen government in China and Audaque Ltd, one of the<\/p>\n","protected":false},"author":16,"featured_media":2074,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[184],"tags":[192,18,266],"class_list":["post-2076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised","tag-alumni","tag-big-data","tag-finance","alumni_category-business","alumni_category-university-successes"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Reducing Risk In Finance| Southampton Connects Alumni|University of Southampton<\/title>\n<meta name=\"description\" content=\"A Southampton research team has been awarded \u00a3400,000 for their project to build a big data-supported financial services platform.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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