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The Fintech AI Innovation Consortium (FAIC) is a new initiative that builds on UNSW's strength in digital innovation technologies and AI applications and is driven by the Engineering and Business faculties. 

FAIC will support multidisciplinary research collaboration projects between UNSW academic teams and industry partners in areas related to transitioning AI systems. This includes experimental environments in business settings considering their impact on software engineering practices, financial ecosystems and responsible AI issues.

UNSW has a long tradition of working in the field of Fintech as illustrated in its leading participation in the Capital Markets Cooperative Research Centre (CMCRC) in the early 2000s.  The establishment of the Fintech AI Innovation Consortium (FAIC) represents the culmination of these efforts. It builds on UNSW's strength in digital innovation technologies and AI applications driven by both the Engineering and Business faculties. In particular, UNSW has launched a flagship university-wide research institute that will support the activities of over 300 UNSW researchers working across AI.

FAIC will support multidisciplinary research collaboration projects between UNSW academic teams and industry partners. Key areas relate to transitioning AI systems from experimental to business settings considering their impact on software engineering practices, financial ecosystems and responsible AI issues. A number of research projects have been initiated with sponsorship from several industry partners notably Westpac, BrewAI, Cognitivo, AWS and Databricks.