EY and UTS form financial services analytics alliance

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Monday 15th June 2015 - EY and the University of Technology, Sydney (UTS) have launched an alliance to address some of the biggest data analytics challenges currently facing Australian financial service organisations.

The financial services analytics alliance, which kicked off today with the signing of a memorandum of understanding at the University’s City Campus, will see both organisations apply their data analytics and research capabilities to areas such as cyber-crime, customer interaction and retention and risk.

EY Oceania Financial Services Leader, Andrew Price said given the pervasive impact of digital on the financial services industry, getting data management and analytics right would create significant competitive advantage for businesses and benefits for consumers.

“EY and UTS are both deeply committed to the advancement of knowledge, learning and progressive thinking and practices. We already have a strong relationship and this agreement is the next step in working together to help financial service organisations tackle some of the key challenges they face in an increasingly digital and connected market,” Mr Price said.

“By bringing together our research skills and commercial acumen, we hope to develop innovative solutions that will help financial service organisations better understand and use leading edge technology and analytics practices to gain deeper business, risk and customer insight from the wealth of data available to them.”

“Data analytics is also a major growth area, with organisations increasingly recognising the need for people with the right maths and science skill sets to meet this demand. By highlighting key issues and demonstrating new and innovative approaches to addressing these problems, we also hope to encourage additional graduates in this space,” Mr Price said.

UTS Vice-Chancellor Professor Attila Brungs said collaborations with business and industry in research and learning were essential for delivering research outcomes with impact and providing students with skills that match the needs of dynamic and fast-evolving workplaces.

“We see many opportunities benefitting our students and the wider community arising out of research and education collaborations with EY, a respected financial services sector leader,” Professor Brungs said.

“Research in data analytics and data science is one of UTS’s priorities. The field is emerging as an area of critical importance, in the same way that computer science developed in the 1970s and 1980s to underpin the explosion of information technology.”

The five year agreement will see the two organisations collaborate on a range of analytics and big data initiatives across four key areas: joint research projects; learning delivery; collaborating on the design of graduate programs that will support the future needs of financial services organisations; and the delivery of consulting.

The first joint project under the new agreement will be a survey report looking into the level of maturity among the use of analytics in financial services organisations across Australia and New Zealand.

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About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

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This news release has been issued by Ernst & Young Australia, a member firm of Ernst & Young Global Limited.

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About UTS
UTS is a dynamic and innovative university in central Sydney. One of Australia’s leading universities of technology, UTS has a distinct model of learning, strong research performance and a leading reputation for engagement with industry and the professions.

UTS has a culturally diverse campus life and vibrant international exchange study and research programs that prepare graduates for the workplaces of today and the future.

Our City campus is in the heart of Sydney's creative precinct and alongside Sydney's central business district, and our Kuring-gai campus is in a bushland setting in northern Sydney. Over the next six years, our City Campus Master Plan will deliver a state-of-the-art campus to meet the needs of 21st century students.