FNA Talks Data Science in Economics and Finance with Nordic Investment Bank

About this Episode

In this latest episode of the FNA Talks podcast series, David Bolder, Director of Model Development and Economic Capital and FNA’s Central Bank and Academia Programme Manager, Will Towning, discuss one of the most awaited Fintech publications of 2021: Data Science in Economics and Finance for Decision Makers, edited and co-authored by the ECB’s Per Nymand-Andersen.

David – who co-authored the book – and Will review the key themes of David’s contributions, highlighting the practical implications and demystifying common disillusions of where data science fits into a decision maker’s tool kit.

The book, published in March this year, provides an overview of how digital transformation and data science can support decision making and offers a variety of perspectives on managing digital data.

Contributions from FNA’ers Kimmo Soramäki, Ivana Ruffini, Mikhail Oet, Tuomas Takko and Adam Csabay also featured in the book. The chapter FNA authored, Prudential Stress Testing in Financial Networks, provides a taxonomy of organizational problems facing firms operating in financial markets, and offers a comprehensive approach to information system design that addresses stress testing in networks.

The FNA Team’s work sits amongst contributions from over 20 global experts from both the private and public sectors.

The book can be purchased here: https://riskbooks.com/data-science-in-economics-and-finance

0:00 – Introductions
2:05 – What David’s chapter covers and why it is important for decision-makers
4:13 – Two insights for demystifying data science
6:48 – Advice for decision-makers for starting data science
9:23 – Core lessons decision-makers should draw from David’s chapter
13:05 – David’s vision for data science and its evolution