Innovations in industry are now driven by technology. Speed, security, computational power and novel analytical systems have become critically important to success on this bold new playing field. Responding to the urgent need for solutions to these new challenges, CRAFT, the Center for Research toward Advancing Financial Technologies, was established in summer 2021 by Stevens Institute of Technology and Rensselaer Polytechnic Institute, co-sponsored by the National Science Foundation (NSF).
CRAFT is the first research center funded by NSF with a focus on the financial industry. Working together, the center's academic and industry partners will collaboratively create innovative solutions such as decentralized finance, AI-enabled finance, quantum finance and solutions to climate-related impacts on investment, while also helping secure our financial data, create and test more equitable trading platforms, inform financial regulations, and support improved market simulation and stress-testing tools that ensure financial system stability for all.