Marcos Machado is an Assistant Professor in Business and Information Systems at the Industrial Engineering and Business Information Systems (IEBIS) department section of the University of Twente. His current research interests are focused on the applications of machine learning algorithms, data science, and analytics to solve business problems.
He received his Ph.D. in Modelling and Computational Science from the Ontario Tech University (Canada), and he holds an MSc in Production Engineering from the University of Sao Paulo (Brazil) and a BSc in Mathematics from the Federal Institute of Education, Science, and Technology of Ceara (Brazil). He also has over seven years of experience working in the Brazilian and Canadian banking industries.
Expertise
Economics, Econometrics and Finance
- Finance
- Specific Industry
Computer Science
- Machine Learning Algorithm
- Models
- Financial Industry
Social Sciences
- Approach
- Customer
- Revenue
Organisations
Publications
2025
2024
2023
2022
Research profiles
Teaching (Teacher/Tutor):
- B-IEM/B-BIT (Module 3): Business Process Management (BPM)
- B-BIT/B-TCS (Module 12): Track Coordination (Information Management)
- Minor (Module 9): Enterprise Soft. for the Integration of Adm. Processes (ESIAP)
- M-BIT: Smart Industry Systems (SIS)
- M-BIT/M-IEM/M-BA: Applications of AI in Business (AAIB)
Teaching (Recurrent Guest Lectures):
- M-BA/M-BIT: Electronic Commerce (EC)
- M-BA/M-BIT: Information Systems for the Financial Services Industry (ISFSI)
Supervision of BSc thesis projects (1st or 2nd Supervision):
- (Finished) Kristupas Raicevicius
- (Finished) Tijmen Prins
- (Finished) Giovanni Herbert
- (Finished) Tom Frieling
- (Finished) Nicole Busse
- (Finished) Marcus Muller
- (Finished) Zoelle van Bommel
- (Finished) Simon Prinsen
- (Finished) Emilio Solino Overmars
- (Finished) Marnix Krikken
- (Finished) Augustin Catalab
- (Finished) Marcel de Roos
- (Finished) Bjorn van Braak
- (Finished) Jasper van Beurden
- (Finished) Halyn Cho
- (Finished) Pim Verheul
- (Finished) Anton Tsankov
- (Finished) Louis Daniel L. Fuentes
- (Finished) Alexandru Matcov
- (Finished) Erika Mäkelä
- (Finished) Zehra Gülçay
- (Finished) Xanti Lizanzu
- (Finished) Iosif Hriscu
- (Finished) Katsiaryna Radzkova
- (Finished) Chau Nguyen
- (Finished) Maria Tudorache
- (Finished) Bart Geugies
- (Finished) Asen Pantov
- (Finished) Daniel Blik
- (Finished) Aleksandar Nikolov
- (Finished) Maxim Fraňo
- (Finished) Valeri Andreev
- (Finished) Yordan Toshev
- (Finished) Cas van Peer
- (Ongoing) Justus Straus
- (Ongoing) Yaya Huang
- (Ongoing) Marina Murtaza
- (Ongoing) Mette Wesfelt
- (Ongoing) Giovanni Falseti
- (Ongoing) Lex de Jager
Supervision of MSc thesis projects (1st or 2nd Supervision):
- (Finished) Roel Bruins
- (Finished) Daniel Chen
- (Finished) Jaap Beltman
- (Finished) Edo Belva Firmansyah
- (Finished) Michael
- (Finished) Raef Kazi
- (Finished) Alessandra Amato
- (Finished) Luca Kozian
- (Finished) Sonakashi Dhawan
- (Finished) Michiel Jongenjan
- (Finished) Dyon Kok
- (Finished) Sebastian Goldmann
- (Finished) Lennart Boeringa
- (Finished) Pratyush Gupta
- (Finished) Douwe Rotink
- (Finished) Akhil Raja Keshetti
- (Finished) Giovanni Herbert
- (Finished) Tim Dissevelt
- (Finished) Jens Reil (BIT)
- (Finished) Julius Kooistra
- (Finished) Abel van Raalte
- (Finished) Kariko Kimathi
- (Ongoing) Jens Reil (IEM)
- (Ongoing) Pedro Silva
- (Ongoing) Arno de Vries
- (Ongoing) Sherick Burggraaff
- (Ongoing) Oleg Silcenco
- (Ongoing) Sophie Gaastra
- (Ongoing) Max van de Berg
- (Ongoing) Finn Lee
- (Ongoing) Thomas Koene
- (Ongoing) Hakan Tirsi
- (Ongoing) Martijn Sikking
- (Ongoing) Mark-Jan van Enkhuizen
- (Ongoing) Floor Rademaker
- (Ongoing) Bas Vreeman
- (Ongoing) Haritha Mutharasu
- (Ongoing) Ward de Lange
- (Ongoing) Noah Koerselman
- (Ongoing) Bjorn van Braak
- (Ongoing) Mart Staarink
- (Ongoing) Yawen Li
- (Ongoing) Wan Barmawi
Internship supervision:
- (Finished) Alessandra Amato
- (Finished) Nabila Pindya
- (Finished) Oleg Silcenco
- (Finished) Sophie Gaastra
- (Finished) Akhil Raja Keshetti
- (Ongoing) Miguel de la Cruz
- (Ongoing) Haritha Mutharasu
- (Ongoing) Bas Vreeman
- (Ongoing) Emma Cañavate
- (Ongoing) Tri Imam
Committee Service:
- General member (since 1-10-2023) of the BIToC, BIT Program Committee: https://www.utwente.nl/en/bit/organisation-bit/programme-committee/
Affiliated study programs
Courses academic year 2024/2025
Courses in the current academic year are added at the moment they are finalised in the Osiris system. Therefore it is possible that the list is not yet complete for the whole academic year.
Courses academic year 2023/2024
My research endeavors revolve around the application of analytics, econometrics, applied statistics, and mathematical principles, leveraging data-driven methodologies and machine learning algorithms to address various business challenges. Presently, I am engaged in five significant research initiatives, supported by funding from esteemed entities such as the European Union (IS2H4C, MSCA - DIGITAL, COST), the Dutch Government (Kick-Start AI), and the University of Twente (CEP Twente). Further information regarding these projects is outlined below.
Current projects
Kickstart AI: Artificial Intelligence (AI) in Finance
ING Group - University of Twente (UT)
Joint cooperation of ING Group (ING) and University of Twente (UT), advancing Artificial Intelligence (AI) in Finance
Sustainable Circular Economy Transition: from Industrial Symbiosis to Hubs for Circularity (IS2H4C)
IS2H4C, a 4-year major collaborative project funded by the European Commission with a total budget of 23,5 million euros, aims to transform industrial zones into hubs for circularity (H4C) for near zero emission regions. The project, aligning with the European Green Deal and the Fit-for-55 package, is set to become the largest EU project run at UT, involving 35 partners from nine countries. The project is led and coordinated by Dr. Devrim Yazan (IEBIS/Utwente).
Circular Economy Platform Twente (CEP Twente)
Member of the CEP Twente, a project coordinated by Dr. Devrim Yazan (IEBIS/Utwente). This project aims to establish the Circular Economy Platform Twente (CEP Twente) as a collaborative initiative between the academicians and students of the five faculties of the University of Twente (UT) including Green Hub Twente within 2023. The primary goal of the CEP Twente is to accelerate the transition towards a sustainable circular economy by fostering interdisciplinary research, education, and knowledge exchange. Starting in 2024, we aim to act as a regional platform that provides room for collaboration among regional stakeholders, including municipalities, companies, and NGOs. The platform will serve as an umbrella association, bringing together diverse stakeholders from academia, industry, and (local) government to build a community that shares a common vision and creates societal, environmental, and economic impact in the Twente region.
COST Action - Fintech and AI in Finance
COST Action - Fintech and AI in Finance
Member of the COST Action: Fintech and AI in Finance. Project is coordinated by Dr. Joerg Osterrieder (IEBIS/Utwente). The Action will investigate AI and Fintech from three different angles: Transparency in FinTech, Transparent versus Black Box Decision-Support Models in the Financial Industry and Transparency into Investment Product Performance for Clients. The Action will bridge the gap between academia, industry, the public and governmental organisations by working in an interdisciplinary way across Europe and focusing on innovation.
Marie Sklodowska-Curie Action Industrial Doctoral Network on Digital Finance (MSCA Digital Finance)
Marie Sklodowska-Curie Action Industrial Doctoral Network on Digital Finance (MSCA Digital Finance)
Member of DIGITAL, a project coordinated by Dr. Joerg Osterrieder (IEBIS/Utwente). Specifically, the Marie Sklodowska-Curie Action Industrial Doctoral Network on Digital Finance (MSCA Digital Finance) represents a groundbreaking European PhD Research and Training Programme, focusing on innovation and research across the European Union. Objective: MSCA Digital Finance aims to integrate advanced research and training in the field of digital finance. The primary goal is to foster the development of next-generation researchers and professionals who can contribute significantly to the digital finance sector. This initiative is designed to bridge the gap between academia and industry, ensuring that PhD candidates are well-equipped with both theoretical knowledge and practical skills relevant to the rapidly evolving digital finance landscape.
Erasmus: Blended Intensive Program (BIP) - Methods for Fintech and Artificial Intelligence in Finance
The aim of the BIP is to create an interdisciplinary course on advanced topics in the field of statistics and probability, with applications in the Fintech sector and Artificial Intelligence on key topics included in the UN SDGs.
The programme will enable participants to understand and develop analyses on financial instruments using appropriate techniques. Starting from the theoretical analysis of the technical-conceptual determinants and the regulatory environment of AI, models will be presented and the results of field tests of the experience gained in the adoption of models of the kind will be presented.
The programme aims to provide analytical skills to create, manage and interrogate large datasets applicable to the financial sector and to build critical awareness of current issues in the Fintech landscape. A set of programming tools will facilitate the implementation of models and enable participants to analyse decision-making processes.
BuddyGPT
BuddyGPT for UT students: Integrating ChatGPT technology with Canvas Learning Management System for enriched, engaging and enjoyable learning experiences (Project Leader and PI: Dr. Gayane Sedrakyan).
In the press
- MSCA - Digital Finance: https://www.utoday.nl/news/73854/europese-beurs-voor-ut-project-naar-verbetering-digitale-financiele-sector
News on utwente.nl
Research-related:
- Sustainable Circular Economy Transition: from Industrial Symbiosis to Hubs for Circularity (IS2H4C) project: Transitioning industrial zones into hubs for circularity (utwente.nl)
- Circular Economy Platform Twente (CEP) Circular Economy Platform Twente (CEP TWENTE) receives UT Climate Centre Funds (utwente.nl)
- Circular Economy Platform Twente (CEP) receives Climate Centre award: Climate Centre awards nine climate-related projects €190.000 in seed funding (utwente.nl)
- Sustainable Finance System with AI and Blockchain - University receives 1.5 million euro for innovative MSCA PhD Network in Digital Finance
Address
University of Twente
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Hallenweg 17
7522 NH Enschede
Netherlands
University of Twente
Ravelijn 3105
P.O. Box 217
7500 AE Enschede
Netherlands
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