EFF Finance Award 2026: CBS Graduate Noah Samuel Erb Honored

How far has artificial intelligence really come in steering international banks? That is the question Noah Samuel Erb explored in his master's thesis, and it just earned him an award from the European Finance Forum (EFF). At the EFF Finance Award 2026, the graduate of CBS University of Applied Sciences' part-time Controlling and Financial Management master's programme took second place, worth 1,000 euros. His thesis is titled "Opportunities for Applying Artificial Intelligence in Controlling at Major Banks: Potentials, Challenges, and Recommendations for Planning, Forecasting, and Reporting". Congratulations, Noah. Here is a closer look at the award and the work behind it.

From Everyday Banking to an Award-Winning Thesis

Noah Samuel Erb works as an Assistant Vice President at Deutsche Bank, in the Private Bank division's Global Cost & FTE Management team. That is exactly where his thesis question came from.

“In day-to-day banking, I see the demand for faster, data-driven decisions growing every day, which is why AI is such a powerful lever for planning, forecasting, and reporting. What fascinated me most about this question was the tension between this huge technological potential and the strict regulatory requirements major banks operate under,” he explains.

Noah completed his degree part-time at CBS University of Applied Sciences, alongside his full-time role at Deutsche Bank. That combination of hands-on career experience and academic depth is exactly what part-time master's programmes are built for.

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What is the EFF Finance Award?

The EFF Finance Award is an annual prize presented by the European Finance Forum for particularly compelling master's theses in the field of banking and finance. The awards are endowed with 2,000, 1,000, and 500 euros, and winners also receive a one-year EFF membership.

The European Finance Forum has been dedicated to the professional exchange of ideas on financial topics since 1989. For Noah, the membership is more than just a footnote:

"It is a fantastic opportunity to further explore current industry trends and technological developments in the financial world through exciting events," he says.

Maturity model shows: Speed does not equal maturity

Instead of stopping at an inventory of potential use cases, Noah developed his own maturity model and applied it to nine major international banks. He examined how far AI has already been integrated into three core management processes:

• Forecasting: Maturity levels tend to be highest here
• Reporting: Generative AI, in particular, is currently driving noticeable progress
• Planning: Still lagging behind in many banks

Across all institutions, it is also evident that AI is currently being used in a piecemeal fashion rather than being fully embedded into management logic.

One finding that contradicts common expectations is particularly revealing: adopting technology quickly does not automatically mean being further ahead. Banks with more robust governance structures may scale more slowly, but they do so in a more controlled and sustainable manner.

"The best algorithm is worthless if the data foundation and governance structures aren't right," says Noah. "Furthermore, it's clear that automation is inevitably shifting the role of controlling from a mere provider of figures to that of a strategic data translator."

CBS congratulates Noah Samuel Erb and Prof. Dr. Mike Schulze

The thesis was supervised by Prof. Dr. Mike Schulze, who also encouraged Noah to apply for the EFF Finance Award. CBS University of Applied Sciences warmly congratulates Noah Samuel Erb on this achievement, and thanks Prof. Dr. Mike Schulze for his dedicated supervision of the thesis. More on Noah's personal journey and experience is coming soon in our interview with him.

Noah's award shows how much practice-relevant research questions can grow out of everyday work, especially when study and job are closely intertwined. If you are considering a part-time master's degree yourself, to build your career and keep learning at the same time, CBS University of Applied Sciences offers several programmes with personal support and real-world relevance.