Anchored in the Faculty of Economics and Business, Universitas Indonesia (FEB UI), advancing responsible computational intelligence for resilient, inclusive, and sustainable finance and business
CIFBR is an interdisciplinary research group that advances computational intelligence for finance, business, and risk
Anchored in the Faculty of Economics and Business at Universitas Indonesia, the group connects finance, banking, accounting, marketing, actuarial science, Islamic finance, governance, and industry practice.
Our strategic proposition combines deep domain knowledge with cutting-edge data science to produce research that is analytically rigorous, institutionally relevant, responsible, and ready for real-world adoption.


Market microstructure, asset pricing, volatility and liquidity, systemic risk, banking stability, digital payments, financial networks, crypto-assets, portfolio analytics, and early-warning systems.

Digital platforms, marketing intelligence, consumer and investor behavior, text and social-media analytics, customer experience, firm performance, and responsible use of AI in business decisions.

Enterprise risk, actuarial and insurance analytics, GRC, climate and sustainability risk, operational and cyber risk, stress testing, scenario analysis, and organizational resilience.

Islamic finance and banking, MSME finance, financial inclusion and literacy, sustainable finance, impact measurement, fair algorithms, and policy design for emerging markets.
Zaäfri Ananto Husodo is a finance scholar in the Department of Management, Faculty of Economics and Business, Universitas Indonesia, and is affiliated with the CIFBR research group. His public research record spans asset pricing, stock markets, banking, risk, volatility, spillovers, and financial econometrics, with recent work extending to digital currencies and digital payments