Fintech

Introduction

Financial technology (Fintech) refers to the digitalization and technological innovations in the financial industry, which has transformed and continues to disrupt financial markets, institutions and services, as well as offers alternative payment systems using digital currencies. The aim of this course is threefold: (i) to cover the origins and the current trends of Fintech in all aspects of the financial industry, (ii) to envision the potentials of technology in improving financial services and the efficiency of financial markets, and (iii) to understand the potential threats and risks posed by digitalization. Several new financial technology companies aim to decentralize current financial systems and markets, while others pose threats to the traditional financial institutions whose services rely more on the human factors and less on the information technology. Facing these threats, the incumbent financial institutions respond by modernizing their services through embracing Fintech and digitalizing their services.

The course will give students the necessary insight into the Fintech revolution, opportunities, and threats and prepare them for

• Developing and presenting their own Fintech ideas
• Working for Fintech companies that aim to offer new financial services
• Working for traditional financial institutions that aim to embrace digitalization
• Working with regulators that aim to design rules which minimize the potential threats of decentralization without hindering the benefits of digitalization

Course content

The course will cover the following topics and more:

• Fintech and how banks embrace it
• Payment: how it used to work, how it works in fintech domain, key players in fintech domain, regulations such as psd2, financial inclusion, cashless society
• Financing: how it used to work, how it works in fintech domain, p2p lending, crowdfunding, key players in fintech domain, related regulations
• Blockchain: how it works, digital currency, Libra, initial coin offering, smart contracts,
• Everything else: digital banking, wealth management, insurtech, regtech