On 20 December, the Nottingham Fintech Lab was officially launched. Industry experts, business representatives, and the University of Nottingham Ningbo China (UNNC) officials presented and witnessed this significant moment.
The lab is equipped with 51 high-performance computers, 12 Bloomberg Terminals, and various financial platforms and databases, computing devices, cloud computing platforms, and large language models (LLMs). It provides students with training in data collection, analysis, modeling, and quantitative trading, offering an innovative and immersive learning environment.
The launching ceremony was hosted by Dr Xiaolan Zheng, Head of Department of Finance, Accounting and Economics of Nottingham University Business School China. Professor Alain Yee Loong Chong, Vice Provost for Global Engagement and Partnership at UNNC, delivered a welcome speech, emphasizing the Fintech Lab's role in improving people's lives and promoting social development through technological innovation.
Dr Tingting Ying, Project Manager of Nottingham Fintech Lab, introduced the lab's complete set of commonly used financial software, databases, and analytical tools, aimed at providing learning support to students in finance-related majors and enhancing their employability. Additionally, the lab provides necessary hardware support for students to participate in business competitions such as the Bloomberg Global Trading Challenge and the CFA Institute Research Challenge. UNNC students recently won the championship in the Asia and Oceania region and ranked third globally in the Bloomberg Global Trading Challenge 2024 by using Bloomberg Terminals.
During the ceremony, Professor Alain Yee Loong Chong, Professor Kok Wei Khong, Dean of Nottingham University Business School China, Professor Bohui Zhang, Executive Dean of the School of Management and Economics at The Chinese University of Hong Kong, Shenzhen, and Dr Kewei Tang, Founder of Fullink, Nottingham University Business School China Advisory Board member, jointly unveiled the Nottingham Fintech Lab.
Later, Professor Bohui Zhang delivered a keynote speech titled "The Application of Satellite Data in GDP Prediction and Firm’s Performance". He began by outlining the three fundamental processes of satellite remote sensing technology: data acquisition, analysis, and problem-solving. Professor Zhang then elaborated on the five important dimensions of remote sensing data in the fields of economics and finance, including natural resource detection, climate change impact assessment, environmental quality monitoring, land development and utilization analysis, and economic activity measurement. He showed a picture from the American Economic Review to illustrate the relationship between night lights and economic development, pointing out that the intensity of night lights can reflect consumer activity and GDP growth. He also provided examples to verify the correlation between satellite data and economic indicators.
After the break, Dr Yuxin Zhang, Associate Professor in Finance, showcased the lab, demonstrating how to use LLMs and databases to predict stock market trends. Students expressed that this hands-on experience gave them a deeper understanding and awareness of fintech.
Finally, Dr Kewei Tang gave a keynote speech, introducing the wide application of LLMs in the fintech field. He pointed out that LLMs have overcome many obstacles in natural language processing, and almost all commercial banks have now adopted them. Dr Tang also shared specific applications of LLMs in contract analysis, transaction settlement, and customer complaint management, and how these applications can improve work efficiency and accuracy while reducing manpower and time costs.
The launch of the Nottingham Fintech Lab marks a significant milestone for UNNC, providing students with a cutting-edge platform that integrates advanced hardware support and exceptional learning experiences. This innovative laboratory offers an environment that fosters creativity and exploration, enabling every student with a keen interest in fintech to receive comprehensive support and abundant growth opportunities.