Big data: Bank Hapoalim and the Technion agree to enhance Data Science cooperation

Bank Hapoalim CEO Arik Pinto and Peretz Lavie, president of the Technion – Israel Institute of Technology, signed an agreement on Tuesday to enhance their cooperation in the field of Data Science.

The bank said that it viewed the partnership as a means for ensuring its technological edge as it seeks to improve the quality of its customer service.

The bank will set up a special secure laboratory in the Technion that will be staffed by bank analysts and researchers to conduct experiments on various bank-related activities like financial forecasting and risk management.

Data Science is a new academic field which deals with generating useful information and drawing conclusions from massive amounts of data, by using models and advanced statistics, data mining, analytic forecasting and more. The cooperation with the Technion will give Bank Hapoalim access to the leading Data Science researchers in the world.

Technion President Peretz Lavie said that “the cooperation between the Technion and Bank Hapoalim gives researchers and students at the Technion the opportunity for research-applied activity with a leading institution in Israel’s economy.”

Bank Hapoalim CEO Arik Pinto said that “we believe that we have a duty to be a humane, personal and technologically-advanced bank all at once, and the inclusion of advanced research is an essential condition to implement this strategy.”

Pinto added that “cooperation with the Technion, the leading technological research institution in Israel, and among the leading institutions in the whole world, opens before us new research channels and paves the way to carry out Bank Hapoalim’s innovative vision.”

Source The Jerusalem Post

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