FinTech – financial technology

elective monographs

FINTECH (Financial Technology) is a new branch in the IT business that aims at applying newest technologies in the financial services sector. While conventional financial institutions have strived for years to introduce new solutions, FINTECH companies aim to revolutionize banking and other financial services.

FINTECH products are built upon such technologies as Big Data, social network analysis, machine learning algorithms, artificial intelligence. For instance, there exist in the US pay-day-loan companies that assign credit rating to clients based solely on their Facebook data. Such algorithms were also patented by Facebook itself in 2014.

During the lecture, we will discuss the key trends in FINTECH revolution and we will work through multiple examples of successful FINTECH stories. A particular attention will be paid to business and regulatory aspects of FINTECH solutions.

FINTECH (Financial Technology) is a new branch in the IT business that aims at applying newest technologies in the financial services sector. While conventional financial institutions have strived for years to introduce new solutions, FINTECH companies aim to revolutionize banking and other financial services.

FINTECH products are built upon such technologies as Big Data, social network analysis, machine learning algorithms, artificial intelligence. For instance, there exist in the US pay-day-loan companies that assign credit rating to clients based solely on their Facebook data. Such algorithms were also patented by Facebook itself in 2014.

During the lecture, we will discuss the key trends in FINTECH revolution and we will work through multiple examples of successful FINTECH stories. A particular attention will be paid to business and regulatory aspects of FINTECH solutions.

1. Introduction to FINTECH. Chosen succesful technologies from the global market.

2. Key technologies used in FINTECH solutions.

3. Economic and business aspects of FINTECH.

4. Social networks and P2P networks & FINTECH

5. Technologies for personal finance management

6. Virtual currencies – construction, functioning, strategic analysis

7. Money laundering and terrorism financing

8. Cybersecurity of FINTECH

9. Ethics in FINTECH

10. FINTECH in social applications.

Christi S. and Barberis J., (2016) The FINTECH Book: The Financial Technology Handbook for Investors, Entrepreneurs and Visionaries

Mayer-Schnberger V (2013) Big Data: A Revolution That Will Transform How We Live, Work and Think. Viktor Mayer-Schnberger and Kenneth Cukier (John Murray Publishers, UK).

Knowledge:

1. The student knows basic and advanced technologies used in FINTECH

2. The student has a general knowledge about newest FINTECH applications in the financial industry

3. The students is able to identify main research challenges in the field

Skills:

1. The student is able to analyse technical aspects of a chosen technology

2. The student is able to perform a preliminary business analysis of a new FITECH solution for the financial industry

3. The student is able to propose her own solution (that is at least a combination of existing solutions) given business requirements.

4. The student is able to judge whether a FINTECH solution is indeed better than a standard approach

Competences:

1. The students is aware of the limits of her knowledge and the need to expand it regarding the fast growing FINTECH field.

2. The students understands the need for in-depth technological and business analysis of new solutions.

Assessment criteria for laboratories:

1. Attendance - maximum 2 unexcused absences

2. At least 2 presentations - 25% of the final tutorial grade for each presentation

3. Quizzes - 45% of the final score, with each quiz about 5%

4. Activity in classes - 5%

Passing the lecture/course with grade: exam (there is a possibility of exemption from the exam for those who will be satisfied with the grade from laboratories and will want to have such a final grade for the entire course. If you take the exam, including the zero exam, your final grade will be the exam grade, even if it is lower than the laboratories grade).

The form of the exam: written exam at home, open-ended questions, duration 2 hours, photos of solutions immediatelly sent by e-mail after the exam.

Zero examination: same form of examination as above