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  • © 2021

The Digital Journey of Banking and Insurance, Volume II

Digitalization and Machine Learning

Palgrave Macmillan
  • Gathers the most relevant methods used in bank and insurance digitization

  • Includes cases on processes, leveraging computational power, and machine learning models

  • Provides machine learning and deep learning frameworks and examples

Buying options

eBook USD 69.99
Price excludes VAT (USA)
  • ISBN: 978-3-030-78829-2
  • Instant PDF download
  • Readable on all devices
  • Own it forever
  • Exclusive offer for individuals only
  • Tax calculation will be finalised during checkout
Hardcover Book USD 89.99
Price excludes VAT (USA)

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Table of contents (19 chapters)

  1. Front Matter

    Pages i-xli
  2. Use Cases

    1. Front Matter

      Pages 1-3
    2. Use Case—Nostro Accounts Match

      • Volker Liermann, Sangmeng Li, Johannes Waizner
      Pages 21-31
    3. Use Case—Fraud Detection Using Machine Learning Techniques

      • Philipp Enzinger, Sangmeng Li
      Pages 33-49
    4. Use Case: NFR—HR Risk

      • Harro Dittmar, Arne Schmüser, Farah Skaf
      Pages 51-72
    5. Sentiment Analysis for Reputational Risk Management

      • Daniel Schröder, Marian Tieben
      Pages 73-97
    6. Use Case: NFR—Using GraphDB for Impact Graphs

      • Volker Liermann, Marian Tieben
      Pages 99-114
  3. High-Performance Applications

    1. Front Matter

      Pages 115-117
    2. Distributed Calculation Credit Portfolio Models

      • Volker Liermann, Sangmeng Li, Johannes Waizner
      Pages 119-134
    3. BSDS: Balance Sheet Dynamics Simulator

      • Volker Liermann, Harro Dittmar
      Pages 135-153
    4. Dynamic Dashboards

      • Volker Liermann, Sangmeng Li
      Pages 155-180
    5. High-Performance Applications

      • Xenia Bogomolec
      Pages 181-186
  4. Quantum Computing

    1. Front Matter

      Pages 187-188
    2. Post-quantum Secure Cryptographic Algorithms

      • Xenia Bogomolec, Jochen Gerhard
      Pages 189-199
    3. Quantum Technologies

      • Peter Nonnenmann, Xenia Bogomolec
      Pages 201-219
    4. Categorical Quantum Theory

      • Peter Nonnenmann
      Pages 221-229
  5. Process and Process Optimization

    1. Front Matter

      Pages 231-232
    2. Processes in a Digital Environment

      • Marie Kristin Czwalina, Chiara Jakobs, Christopher Schmidt, Matthias Jacoby, Sebastian Geisel
      Pages 233-258
    3. Process Mining

      • Lars Rautenburger, Alexander Liebl
      Pages 259-275

About this book

This book, the second one of three volumes, gives practical examples by a number of use cases showing how to take first steps in the digital journey of banks and insurance companies. The angle shifts over the volumes from a business-driven approach in “Disruption and DNA” to a strong technical focus in “Data Storage, Processing and Analysis”, leaving “Digitalization and Machine Learning Applications” with the business and technical aspects in-between. This second volume mainly emphasizes use cases as well as the methods and technologies applied to drive digital transformation (such as processes, leveraging computational power and machine learning models).

Volker Liermann, Partner at ifb group, worked in the banking industry for over two decades, primarily focusing on financial risk management. Throughout his career, he has focused on developing integrated and comprehensive frameworks to help organizations correctly project risk at a strategic and tactical line of business and departmental level. He has also focused on developing frameworks to integrate stress testing and regulatory stress tests. In recent years, his focus has shifted to digitalization, machine learning and digital processes including improvements to classical financial and non-financial risk management. He has a background in economics and a degree in mathematics from the University of Bonn.

Claus Stegmann has as Co-CEO of ifb group – an international consulting firm – acquired extensive know-how over the last three decades in the financial industry regarding finance transformation, risk management and regulatory compliance. He is intensively engaged with the current challenges of the financial industry, which result from strong changes to customer behavior, a changing competitive environment and new technologies due to digitalization. He has also co-authored books on Stress Tests in Banks, Basel III as well as Digitalization in the Finance Industry, and graduated from Business School at the University of Passau, Germany.

Keywords

  • Digitalization Strategy
  • FinTech
  • InsurTech
  • RegTech
  • Optimization of Regression Tests
  • Machine Learning and Deep Learning Frameworks
  • Open Source

Reviews

Digitalization and Machine Learning, the second volume of The Digital Journey of Banking and Insurance, offers the necessary but often missing link between business and technical view.” (Dr. Carsten Stolz, CFO Baloise Group)

“This three-volume book series spans from a business view in the first volume up to a technical view in the last volume. This second volume is the bridge between the business view and the technical view, the frequently required but often missing link. This link makes the book series a comprehensive work.” (Bernhard Hodler, Former CEO Julius Baer Group)

“My experience shows me that one of the most important topics is to build the link between business and technical view or in other words to have real business (use)cases; it is great to see that in Digitalization and Machine Learning, the second volume of The Digital Journey of Banking and Insurance as one of the hottest topics in our time.” (Gerhard Lahner, COO of Vienna Insurance Group)

“Virtually all financial institutions have embarked on ambitious digital journeys, both to provide better products and customer experience more efficiently and in response to the threat of industry disruption by FinTech competitors. There is no doubt that there will be winners, and there will be losers. I am convinced that The Digital Journey of Banking and Insurance series is indispensable reading for the future winners.” (Thomas C. Wilson, CEO, President and Country Manager at Allianz Ayudhya)

“We do remember when we started our digital journey, but we do not know when it will be over. Therefore, we are definitely in the middle. The book series The Digital Journey of Banking and Insurance is a must-read for of all of us.” (Christian Peter Kromann, CEO, SimCorp)

Editors and Affiliations

  • ifb SE, Grünwald, Germany

    Volker Liermann

  • ifb Americas, Inc., Charlotte, USA

    Claus Stegmann

About the editors

Volker Liermann, Partner at ifb group, worked in the banking industry for over two decades, primarily focusing on financial risk management. Throughout his career, he has focused on developing integrated and comprehensive frameworks to help organizations correctly project risk at a strategic and tactical line of business and departmental level. He has also focused on developing frameworks to integrate stress testing and regulatory stress tests. In recent years, his focus has shifted to digitalization, machine learning and digital processes including improvements to classical financial and non-financial risk management. He has a background in economics and a degree in mathematics from the University of Bonn.

Claus Stegmann has as Co-CEO of ifb group – an international consulting firm – acquired extensive know-how over the last three decades in the financial industry regarding finance transformation, risk management and regulatory compliance. He is intensively engaged with the current challenges of the financial industry, which result from strong changes to customer behavior, a changing competitive environment and new technologies due to digitalization. He has also co-authored books on Stress Tests in Banks, Basel III as well as Digitalization in the Finance Industry, and graduated from Business School at the University of Passau, Germany.

Bibliographic Information

  • Book Title: The Digital Journey of Banking and Insurance, Volume II

  • Book Subtitle: Digitalization and Machine Learning

  • Editors: Volker Liermann, Claus Stegmann

  • DOI: https://doi.org/10.1007/978-3-030-78829-2

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021

  • Hardcover ISBN: 978-3-030-78828-5

  • eBook ISBN: 978-3-030-78829-2

  • Edition Number: 1

  • Number of Pages: XLI, 339

  • Number of Illustrations: 5 b/w illustrations, 167 illustrations in colour

  • Topics: Financial Technology and Innovation, Financial Services

Buying options

eBook USD 69.99
Price excludes VAT (USA)
  • ISBN: 978-3-030-78829-2
  • Instant PDF download
  • Readable on all devices
  • Own it forever
  • Exclusive offer for individuals only
  • Tax calculation will be finalised during checkout
Hardcover Book USD 89.99
Price excludes VAT (USA)