The Workshop
ING Amsterdam, February 28, 2025
Dear Participants,
We are delighted to welcome you to the ING – University of Twente Workshop on Data Analytics and Quantitative Models in Banking and Academia, taking place on February 28, 2024, at the ING headquarters in Amsterdam.
This workshop is a unique opportunity for professionals, academics, and students to come together and explore the latest developments in data analytics, finance, risk management, and artificial intelligence. By bringing together experts from ING and the University of Twente, we aim to strengthen collaboration between industry and academia, bridging the gap between theoretical research and practical application.
Throughout the day, you will engage in insightful presentations covering topics such as Data Analytics, Model Risk Management, Model Validation, Advanced Risk Management, AI in Finance and Business, and Data Science applications. The interactive workshops will provide hands-on experience with quantitative research models.
We encourage you to actively participate, share your ideas, and network with fellow attendees. Your contributions are important in shaping the future of finance and advancing the field of quantitative modeling.
We look forward to an engaging and productive day with all of you.
prof. dr. Jos van Hillegersberg, dr. Joerg Osterrieder, Ms. Anouk Bleumer, Dr. Max Baak
Date: February 28, 2025
Location: ING, Bijlmermeer, 1102 BP Amsterdam, Netherlands, https://www.ing.com/MediaEditPage/Route-description-to-Cedar.htm
Tentative Agenda
10:30 – 10:45 | Welcome & Introduction
prof. dr. Jos van Hillegersberg, Professor of Business Information Systems, Scientific Director of JADS.nl
dr. Joerg Osterrieder, Associate Professor of Finance and Artificial Intelligence, University of Twente
Anouk Bleumer, COO Risk consultant, ING
tbd, Data Analytics, ING
Quantitative Modelling in Banking and Academia
10:45 - 11:00 | Data Analytics and Data Science
dr. Max Baak, Chapter Lead Data Science, Wholesale Banking Advance Analytics, ING
Generative Artificial Intelligence and Large Language Models
11:00 - 11:15 | Model Development, Integrated Risk Management
Voichita Etesse, Chapter Lead, Credit Risk Models Validation, ING
Leon Dusee, COO Risk Department, ING
11:15 - 11:30 | Advanced Risk Management
dr. Berend Roorda, Associate Professor of Business Information Systems, University of Twente
Credit risk modelling
11:30 - 11:45 | AI in Finance + Business
dr. Adriano Barasal Morales, Assistant Professor of Finance, University of Twente
This presentation introduces the field of Spatial Finance, exploring how financial institutions can leverage satellite data to enhance decision-making, particularly in assessing climate risks and supporting sustainable financing practices. Advances in the spatial industry are lowering the costs of capturing and processing geospatial data, while new scientific developments are driving innovative applications in finance.
11:45 - 12:00 | Model Validation and Data Science
Fabian Jansen, Senior Data Scientist, Wholesale Banking Advance Analytics, ING
Generative Artificial Intelligence and Automated Prompt Optimization
12:00 – 13:00 | Lunch Break
Workshops - Quantitative Research Models for Finance
13:00 – 14:45 | Parallel Workshop 1 – Quantitative Research Models for Finance
A multi-agent LLM for scenario analysis
dr. Joerg Osterrieder, Associate Professor of Finance and Artificial Intelligence, University of Twente
dr. Max Baak, Chapter Lead Data Science, Wholesale Banking Advance Analytics, ING
Armin Sadighi, MSCA PhD candidate, University of Twente
Dyon Kok, Business Analyst, ING
13:00 – 14:45 | Parallel Workshop 2 – Quantitative Research Models for Finance
Explainable Reinforcement Learning in Finance
dr. Wouter van Heeswijk, Assistant Professor of Business Information Systems, University of Twente
The European AI Act prescribes that AI-driven operations should be transparent, therefore requiring that banks are able to explain AI-driven decisions. Deep Reinforcement Learning is a powerful decision-making paradigm that increasingly finds its way to practice, but the explainability of this class of machine learning is still in its infancy. This presentation gives a quick overview of the state of the art and reflects on the challenges and potential directions for Explainable Reinforcement Learning.
dr. Frédérik Bernard, University of Twente
dr. Marcos Machado, Assistant Professor of Business Information Systems, University of Twente
Max Haverkamp, Cross Model Analytics, ING
Sebastian Goldman, Consulting, ING
13:00 – 14:45 | Parallel Workshop 3 – Quantitative Research Models for Finance
Hands-on exercise to implement credit risk models
Life-cycle of models
Anil Raina, Product Lead for Model Implementation, ING
Jaap Beltman, Business Analyst, ING
13:00 – 14:45 | Parallel Workshop 4 – Quantitative Research Models for Finance
Incorporating risk culture into quantitative models
dr. Xiaohong Huang, Assistant Professor of Finance, University of Twente
dr. Ekatarina Svetlova, Associate Professor of Finance, University of Twente
Risk culture has been increasingly recognized as a key factor in improving risk management. The workshop will focus on utilization of big data and unstructured text data analytics to assess risk culture in (non)financial institutions.
14:45 – 15:15 | Coffee break
15:15 – 15:45 | Presentation of Results
dr. Frédérik Bernard, Researcher, University of Twente
Anouk Bleumer, COO Risk consultant, ING
15:45 – 16:00 | Closing and Outlook
Leon Dusée, Tribe Lead Credit Risk, COO Risk, ING
tbd, Data Analytics, ING
dr. Marcos Machado, Assistant Professor of Business Information Systems, University of Twente
dr. Joerg Osterrieder, Associate Professor of Finance and Artificial Intelligence, University of Twente
16:00 – 17:00 | Coffee & drinks
Imagine...
Imagine a day where professionals and students come together to explore the future of finance at the ING headquarters in Amsterdam. On February 28, 2024, the ING – UT Workshop on Data Analytics and Quantitative Models in Banking and Academia begins with a warm welcome from prof. dr. Jos van Hillegersberg, Professor of Business Information Systems, Scientific Director of JADS.nl, and dr. Joerg Osterrieder, Associate Professor of Finance and Artificial Intelligence at the University of Twente; Ms. Anouk Bleumer, COO Risk Consultant at ING; and the Data Analytics team at ING.
The morning sessions cover key topics in quantitative finance. Dr. Max Baak leads a discussion on Data Analytics and Generative AI. Following that, Ms. Voichita Etesse, Chapter Lead in Credit Risk Models Validation at ING, and Mr. Leon Dusée, Tribe Lead Credit Risk and COO Risk at ING, share insights on Model Validation and Integrated Risk Management. Dr. Marcos Machado, Assistant Professor of Business Information Systems at the University of Twente, presents on Advanced Risk Management.
After a short break, Dr. Joerg Osterrieder discusses AI in Finance and Business, offering perspectives on how artificial intelligence is transforming the industry. Then, Mr. Max Baak, Chapter Lead Data Science at Wholesale Banking Advanced Analytics, ING, and Mr. Fabian Jansen, Senior Data Scientist at the same department, explore Data Science applications in banking. Dr. Frédérik Bernard from the University of Twente wraps up the morning sessions and outlines the next steps.
Following a lunch break, the afternoon is dedicated to interactive workshops. In Parallel Workshop 1, you can join Dr. Joerg Osterrieder, Dr. Max Baak, Mr. Jaap Beltman, and Mr. Dyon Kok, both Business Analysts at ING, to work on data analytics and quantitative research models for finance. Alternatively, in Parallel Workshop 2, collaborate with Dr. Xiaohong Huang, Dr. Marcos Machado, Dr. Frédérik Bernard and Mr. Max Haverkamp and from Cross Model Analytics at ING, and Mr. Sebastian Goldman from Consulting at ING.
After the workshops and a coffee break, Dr. Frédérik Bernard and Ms. Anouk Bleumer lead the Presentation of Results, where you'll have the opportunity to share what you've learned and developed during the sessions. The day concludes with closing remarks from Dr. Max Baak, Mr. Mischa van den Broeck, Dr. Marcos Machado, and Dr. Joerg Osterrieder, reflecting on the day's insights and looking ahead to future collaborations.
Join us for coffee and drinks afterward to continue the conversations and network with peers and professionals. It's an opportunity to connect, learn, and contribute to the evolving landscape of finance, risk management, and artificial intelligence. We look forward to welcoming you to this enriching day at ING Amsterdam.
Date: February 28, 2025
Location: ING, Bijlmermeer, 1102 BP Amsterdam, Netherlands
MSCA DIGITAL
The Marie Sklowdoska-Curie Action (MSCA) Industrial Doctoral Network on Digital Finance
The MSCA Industrial Doctoral Network on Digital Finance (2024-2027), funded by Horizon Europe, brings together top universities, research centers, and companies to train PhD students in new financial technologies. Academic partners include the University of Twente, WU Vienna, Poznan University of Economics, Universitatea Babeș-Bolyai, Kaunas University of Technology, RPTU, University of Pavia, University of Naples Federico II, American University of Sharjah, and Bern University of Applied Sciences. Industry and research partners are Fraunhofer, Deutsche Bank, Deutsche Börse Group, Raiffeisen Bank, Swedbank, BIS, EIT Digital, Royalton Partners, Quoniam Asset Management, Cardo AI, and Athena Research. Together, they focus on practical projects to help students build skills and create new solutions for the finance sector.
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