image: Austrian National Bank building
Credit: © OeNB
The Austrian capital, Vienna, is set to take center stage in the world of financial technology as it hosts the prestigious Advances in Financial Technology (AFT) conference from September 23 to 25, 2024. Organized by the Complexity Science Hub, the University of Innsbruck, and the Austrian National Bank (Oesterreichische Nationalbank), this international event will bring together experts and innovators in finance and technology.
Previously held at renowned institutions like the Massachusetts Institute of Technology (MIT) and Princeton University, this year’s AFT conference marks Austria’s emergence as a global hub for cutting-edge research in financial technologies and payment systems.
“AFT offers a unique global platform where leading researchers and industry professionals converge to showcase and discuss breakthroughs that will transform the global financial ecosystem,” says Bernhard Haslhofer, Head of the Financial Technology Research Group at the Complexity Science Hub and General Chair of the conference.
Top Experts and Key Highlights
On Wednesday, September 25, the conference will feature presentations from two of the leading experts in the field: Neha Narula and Charles M. Kahn. Narula, Director of the Digital Currency Initiative at MIT Media Lab, is a prominent figure in cryptocurrency and central bank digital currency (CBDC) research. She also serves on the Innovation Advisory Board of the Federal Reserve Bank of New York and has delivered a TED Talk on the future of money.
Kahn, Professor Emeritus at the University of Illinois, is known for his work on payment systems and central banking operations, including the functioning of central banks and the regulation of financial institutions. The day will conclude with a panel on the future of payment systems, focusing on security and privacy concerns.
Financial Systems in the Digital Age
The AFT 2024 conference comes at a time when the global financial system is undergoing rapid digital transformation. “A new wave of digitalization driven by the internet and smartphones is reshaping the financial landscape,” explains Haslhofer.
Emerging markets are developing alternative payment solutions that may challenge traditional Western banking models, while central banks around the world are considering the adoption of CBDCs. Additionally, cryptocurrencies are becoming mainstream digital assets, creating both opportunities and risks, particularly around data security and cybercrime.
"Understanding the technical, legal, and economic dimensions of these developments is critical," said Haslhofer. "The future lies in balancing technological innovation with regulatory oversight."
Rainer Böhme, Professor of Security and Data Protection at the University of Innsbruck, emphasizes the importance of collaboration across disciplines. "We are thrilled to host this important conference at a central bank, where experts from academia, industry, and policymaking can come together to shape the future of financial technology", says Böhme, who along Lucianna Kiffer from ETH Zurich, oversaw the selection of the papers to be presented at the event.
Promoting Global Collaboration
The AFT conference aims to foster dialogue between scientists, financial experts, and policymakers to address the challenges and opportunities posed by emerging financial technologies. By bridging the gap between technological innovation and regulatory frameworks, the conference seeks to ensure the development of financial solutions that benefit everyone.
Advances in Financial Technologies (AFT)
When: September 23-25, 2024
Where: Austrian National Bank (OeNB), Vienna
Organizers: Complexity Science Hub, University of Innsbruck, Austrian National Bank
Website: https://aftconf.github.io/aft24/index.html
About CSH
The Complexity Science Hub (CSH) is Europe’s research center for the study of complex systems. We derive meaning from data from a range of disciplines – economics, medicine, ecology, and the social sciences – as a basis for actionable solutions for a better world. Established in 2015, we have grown to over 70 researchers, driven by the increasing demand to gain a genuine understanding of the networks that underlie society, from healthcare to supply chains. Through our complexity science approaches linking physics, mathematics, and computational modeling with data and network science, we develop the capacity to address today’s and tomorrow’s challenges.