Kennedys, a global law firm, has achieved a major milestone by becoming a part of the Center for Research toward Advancing Financial Technologies (CRAFT), making it the first law firm to join the group. CRAFT is the first Industry University Cooperative Research Center focused on fintech, bringing together academic and industry partners as well as government representatives. The group supports cutting-edge research projects addressing the challenges of fintech in the financial services industry and is financially supported by the National Science Foundation.
As the finance sector undergoes rapid digital transformation, CRAFT aims to manage risks and unintended consequences emerging in the high-tech financial services industry. Kennedys’ technology division, Kennedys IQ, joins CRAFT and plans to extend its focus to include the insurance market. The firm’s expertise in crafting technology solutions presents a valuable asset for CRAFT’s expansion.
Dr. Steve Yang, CRAFT director, expressed his confidence in the partnership with Kennedys and the impact it will have on the industry. He was impressed by Kennedys’ initiatives in using AI systems to automate insurance claims and other fintech initiatives. The collaboration between Kennedys and CRAFT is expected to bring significant advancements in the insurance and fintech sectors.
In conclusion, Kennedys’ inclusion in CRAFT marks an important milestone, as the law firm becomes the first of its kind to join the research group. The partnership will allow Kennedys to contribute its expertise in technology solutions, particularly in the insurance market. CRAFT’s focus on advancing fintech research and managing risks aligns with the rapid digital transformation in the finance sector.
