Knowledge Library
Article Series: A Risk Scoring Model for Managing Money Laundering Transactions
Authors: Dr Eric Halford - Rabdan Academy, Dr Ian Gibson – Rabdan Academy, Mark Newfield – MENA Financial Crime Compliance Group (FCCG), Mufazzal Dhanwala - MENA Financial Crime Compliance Group (FCCG)
A high-level overview of the results of implementing a machine learning model for evaluating a risk score for anti-money laundering alerts and the impact on operational efficiency. The paper outlines how this was achieved by enhancing the existing rules-based transaction monitoring process with a “bolt on” machine learning model. The model allowed the bank to better manage risk by auto-escalating high-risk alerts and hibernating low-risk alerts.Read More
Article Series: Cybersecurity Threats in the UAE Financial Sector: Expert Insights and Emerging Challenges
Continuing our exploration of cybersecurity, ADGMA Research Centre sat down with our Advisory Board member Dr. Keri Pearlson, Executive Director of CAMS (Cybersecurity at MIT Sloan), where she shared insights on key themes regarding the threats facing the UAE’s financial sector. These include emerging threats, the role of AI, vulnerability management, and strategies for addressing advanced persistent threats (APTs) and supply chain vulnerabilities. Her insights provide a blueprint for how financial institutions in the UAE can fortify themselves in this challenging environment.Read More
Article Series: The Benefits and Challenges of Cyber Security in the Financial Sector: A Focus on the UAE
The ADGM Academy Research Centre brings together the ecosystems of academia, industry, government and technology to collaboratively explore solutions and bring insights to the challenges facing the financial sector in the UAE and beyond. We do this through research focused on five key topics: digital transformation, artificial intelligence, data analytics, fintech and cyber security. In this article series we provide an overview of each of these topics and their relevance to the financial sector. Here we look at cyber security.Read More
Article Series: The Benefits and Challenges of Fintech in the Financial Sector: A Focus on the UAE
The ADGM Academy Research Centre brings together the ecosystems of academia, industry, government and technology to collaboratively explore solutions and bring insights to the challenges facing the financial sector in the UAE and beyond. We do this through research focused on five key topics: digital transformation, artificial intelligence, data analytics, fintech and cyber security. In this article series we provide an overview of each of these topics and their relevance to the financial sector. Here we look at fintech.Read More
Article Series: The Benefits and Challenges of Data Analytics in the Financial Sector: A Focus on the UAE
The ADGM Academy Research Centre brings together the ecosystems of academia, industry, government and technology to collaboratively explore solutions and bring insights to the challenges facing the financial sector in the UAE and beyond. We do this through research focused on five key topics: digital transformation, artificial intelligence, data analytics, fintech and cyber security. In this article series we provide an overview of each of these topics and their relevance to the financial sector. Here we look at data analytics.Read More
Article Series: The Benefits And Challenges Of Artificial Intelligence And Machine Learning In The Financial Sector: A Focus On The UAE
The ADGM Academy Research Centre brings together the ecosystems of academia, industry, government and technology to collaboratively explore solutions and bring insights to the challenges facing the financial sector in the UAE and beyond. We do this through research focused on five key topics: digital transformation, artificial intelligence, data analytics, fintech and cyber security. In this article series we provide an overview of each of these topics and their relevance to the financial sector. Here we look at artificial intelligence and machine learning.Read More
Article Series: The Benefits and Challenges of Digital Transformation in the Financial Sector: A Focus on the UAE
The ADGM Academy Research Centre brings together the ecosystems of academia, industry, government and technology to collaboratively explore solutions and bring insights to the challenges facing the financial sector in the UAE and beyond. We do this through research focused on five key topics: digital transformation, artificial intelligence, data analytics, fintech and cyber security. In this article series we provide an overview of each of these topics and their relevance to the financial sector. Here we look at digital transformation.Read More
Research Paper: Cyber Threat Report: The UAE Financial Sector Cyber Threat Landscape
Authors: Dr. Mathew Nicho – Associate Researcher, Research & Innovation Centre, Rabdan Academy
An analysis of the most common types of cyberattacks impacting the UAE financial sector. It highlights vulnerabilities leading to these attacks, categorized into technical, socio-technical, and socio vulnerabilities, to help IT policymakers prioritise and address these threats.Read More
Research Paper: UAE Fintech Jobs Report
Authors: ADGM Academy Research Centre and CFTE (Centre for Finance, Technology and Entrepreneurship)
An analysis of the United Arab Emirates’ (UAE) fintech jobs market, encompassing skill demands, talent gaps, hiring challenges, and the overall fintech jobs landscape.Read More
Article Series: Quantum Computing and Finance
Authors: Ronit Ghose (Head of Future of Finance Team) and Tahmid Quddus Islam (AVP, Innovation & Technology), Citi.
Continuing our deep dive into the intersection of quantum computing and finance, ADGMA Research Centre sat down with Citi’s Ronit Ghose (Head of Future of Finance Team) and Tahmid Quddus Islam (AVP, Innovation & Technology) to get their views on the opportunities and challenges presented by the intersection of quantum and finance. Despite being in its infancy, quantum computing presents immense potential to revolutionise various financial activities, including portfolio optimisation, risk management, fraud detection, and algorithmic trading.Read More
Research Paper: Digital Transformation of Banking and Financial Institutions in the UAE: Understanding the Common Challenges for Collective Action
Authors: Dr. Thouraya Gherissi Labben, Mr. Johan Burger, Dr. Gurdal Ertek, and Dr. Tariq Elrazaz from the College of Business and Economics at the United Arab Emirates University (UAEU)
An analysis of the current landscape of the digital transformation of banking and financial institutions in the UAE and the common challenges faced.Read More
Article Series: Quantum Computing – Preparing for the Most Complex Upgrade Ever: It’s About Time!
Abu Dhabi Global Market Academy (ADGMA) Research Centre (in partnership with ADIA Lab, Imperial College London and Nanyang Technological University) hosted a three-day conference, Quantum Computing for Finance, gathering nearly 300 leading experts from the financial sector, quantum technology firms and academia from around the world. While there are many expected positives from quantum computing, there are also several challenges. One of the conference speakers, Dimitri van Esch, Chair & Founder of Quantum Gateway Foundation and former Quantum Lead at ABN Amro, believes that a move to quantum computing will be the most complex upgrade ever undertaken. And time is of the essence. The ADGMA Research Centre sat down to discuss this with Dimitri.Read More
Article Series: A Brief on Data and AI
As part of our ADGMA Research Centre Insights Series, we are publishing adapted articles from amongst our strategic collaborators. This article on data and artificial intelligence is republished with the kind permission of the Asia School of Business (ASB). Authored by Sanjay Sarma, CEO, President and Dean of ASB, and a Professor of Mechanical Engineering and the Sloan School of Management at MIT, along with Shien Jin Ong, Professor of Practice at ASB and Satish Viswanathan, Advisory Board member of the AI Observatory at ASB and a Managing Director at Accenture Strategy & Consulting.Read More
Article Series: What is sustainable finance and why does it matter?
As part of our ADGMA Research Centre Insights Series, we are publishing adapted articles from amongst our strategic collaborators. This article is republished with the kind permission of Imperial College Business School, IB Knowledge. Marcin Kacperczyk, Professor of Finance at Imperial College London, provides insights on the challenges and opportunities of sustainable finance.Read More
Article Series: CBDCs, Stablecoins and Alternative Emerging Payment Solutions on the Money Ecosystem
As part of our ADGMA Research Centre Insights Series, we are publishing adapted articles from amongst our strategic collaborators. This article is republished with the kind permission of FNA. Carlos León, Director of FMIs & Digital Currency Solutions at FNA and a Fellow Researcher at Tilburg University, and José Moreno, Senior Data Scientist at FNA, provide a comprehensive exploration of the evolving landscape of digital currencies. With a foreword by Dmitry Fedotov, Head of DLT Foundations Oversight at ADGM, the article not only recognizes the transformative potential of emerging digital assets, but also delves in the associated uncertainties and risks.Read More
Article Series: CBDCs: Should the end-user shape the future of money?
As part of our ADGMA Research Centre Insights Series, we are publishing adapted articles from amongst our strategic collaborators. This article is republished with the kind permission of FNA. Carlos León, Director of FMIs & Digital Currency Solutions at FNA, shares his thoughts on retail central bank digital currencies (CBDCs) and suggests that end-user’s needs and capabilities be kept firmly in mind.Read More
Event Report: FinCrime Compliance Series Q2 2023 Wrap-up
The inaugural FinCrime Compliance Series hosted by the ADGM Academy Research Centre brought together the UAE’s financial crime compliance ecosystem including government, banks, regulators, academics, training providers, consultants, technology providers and more. The event, the first in a series, aims to discuss common challenges and identify solutions to help make the UAE financial sector stronger and safer. This brief provides an overview of the event and the key takeaways.Read More
Article Series: Future of Money: Monetary revolution or evolution?
Speculation abounds on how new digital technologies will alter money and payments, with a great deal of emphasis placed on cryptocurrencies, blockchain and decentralised finance. Peter Ware, Head of Research & Development at the ADGM Academy Research Centre, sat down with Professor Alistair Milne, Loughborough University, and Ronit Ghose, Head of Future of Finance Research, Citi, to discuss their views on money and the drivers of change.Read More
Article Series: Limits of Green Finance: A literature survey in the context of green bonds and green loans
In 2021 Professor David Gilchrist and Dr. Rui Zhong from UWA Business School, The University of Western Australia, and Dr. Jing Yu from The University of Sydney Business School, published a systemic literature survey on the factors and potential benefits of corporate engagement in environmentally responsible practices in the context of green bonds and green loans. In response to the rapid development of green finance the ADGM Academy Research Centre engaged Dr. Yu to write a summary of the research.Read More
Article Series: Sustainability Assurance: Understanding the variations in scope of engagements
The disclosure of non-financial information in the form of sustainability reports and integrated reports is now a globally established practice. The ADGM Academy Research Centre is pleased to publish a series of articles by Associate Professor Muhammad Bilal Farooq on the key issues related to the assurance of non-financial reports, such as sustainability reports and integrated reports, also referred to as sustainability assurance. This fourth and final article in the series provides a detailed discussion on the key differences in the scope of non-financial information assurance engagements.Read More
Article Series: Sustainability Assurance: Examining the impact of assurance disclosure credibility
The disclosure of non-financial information in the form of sustainability reports and integrated reports is now a globally established practice. The ADGM Academy Research Centre is pleased to publish a series of articles by Associate Professor Muhammad Bilal Farooq on the key issues related to the assurance of non-financial reports, such as sustainability reports and integrated reports, also referred to as sustainability assurance. This third article examines whether sustainability assurance enhances disclosure credibility and if so how and to what extent.Read More
Article Series: OPEN BANKING TO OPEN FINANCE: LESSONS LEARNED AND OPPORTUNITIES FOR THE UAE
The ADGM Academy Research Centre invited Professor Markos Zachariadis from the Alliance Manchester Business School at the University of Manchester, who holds the Chair in Financial Technology and Information Systems and Barry West, Senior Manager, Applied Innovation & Research at the ADGM Financial Services Regulatory Authority (FSRA) to discuss what lessons can be applied from Open Banking to the future of Open Finance in the UAE financial sector.Read More
Article Series: Sustainability Assurance: How assurers overcome barriers to adoption of non-financial information assurance
The disclosure of non-financial information in the form of sustainability reports and integrated reports is now a globally established practice. The ADGM Academy Research Centre is pleased to publish a series of articles by Associate Professor Muhammad Bilal Farooq on the key issues related to the assurance of non-financial reports, such as sustainability reports and integrated reports, also referred to as sustainability assurance. This second article examines some of the tactic’s assurers use to overcome barriers to stimulate the demand for external assurance of non-financial information.Read More
Article Series: Sustainability Assurance: Examining Drivers And Inhibitors Of Non-financial Information Assurance
The disclosure of non-financial information in the form of sustainability reports and integrated reports is now a globally established practice. Most jurisdictions across the world encourage, either through stock exchange listing requirements or through legislation, the need for companies to provide information on their non-financial performance. However, these disclosures are often criticised for failing to offer a credible account of the reporter’s sustainability performance. To address this criticism many reporters voluntarily secure third-party assurance over their disclosures.Read More
Article Series: Examining the Potential of Technologies to Support Sustainability and Integrated Reporting
Sustainability reporting is now an established global practice. Regulatory agencies and stock exchanges around the world require companies to disclose information on their sustainability performance. Meeting reporting requirements presents many challenges for companies. Advances in information technology, including artificial intelligence and big data analytics, offer useful tools in preparing and assuring sustainability reports. The ADGM Academy Research Centre is pleased to publish this article by Associate Professor Muhammad Bilal Farooq, UAE University and PhD candidate Kashif Nadeem, University of Chieti-Pescara based on their keynote talk at the 2022 European SDG Summit.Read More
Article Series: Banks are Already Considering Climate Change in Their Lending Decisions
As part of the ADGMA Research Centre Article Series we are publishing adapted articles from amongst our strategic collaborators.Read More
Research Paper: Digital Payments in the UAE
Authors: Jayaprada Putrevu and Muna Al Suwaidi from Abu Dhabi University and Salwa Al Breiki from the Abu Dhabi School of Management
The ADGM Academy Research Centre commissioned a team of university student researchers to explore the emergence and importance of digital payments in the UAE economyRead More
Article Series: Federated Machine Learning and its Application in the Finance Industry
The ADGM Academy Research Centre sat down with Professor Duan, Head of the Asian Institute of Digital Finance, at the National University of Singapore and Richard Hills, Associate Managing Director at K2 Integrity, based in Abu Dhabi, to explore potential applications of federated learning in the financial industry while taking a broader view on the evolution of technology and some of the barriers to adoption of innovative solutions.Read More
Research Paper: Artificial Intelligence to Enhance the SME Ecosystem in the UAE
Authors: Dr. Nihel Chabrak, ADGM Academy and The Deep Credit Analytics Team, Asian Institute of Digital Finance (AIDF), National University of Singapore
An analysis on how big data and AI can be leveraged to develop a more informative credit model to support the UAE SME ecosystem and drive improved decision making about lending to SMEs.Read More
Research Paper: THE GLOBAL COVID-19 FINTECH MARKET IMPACT AND INDUSTRY RESILIENCE STUDY
Authors: Cambridge Centre for Alternative Finance (CCAF), University of Cambridge, Judge Business School with the World Bank and the World Economic Forum
An assessment of the medium-to-longer-term impact of COVID-19 on the FinTech industry and includes issues such as the customer base of these firms and their potential impact on financial inclusion.Read More
Research Paper: FinTech Regulation in the Middle East and North Africa
Authors: Cambridge Centre for Alternative Finance (CCAF), University of Cambridge, Judge Business School
A review of how MENA jurisdictions have responded to the opportunities and challenges associated with FinTech and digital financial services through regulatory efforts, processes, and innovation.