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Fintech: Overview of the Fintech Sector

The University of Texas at Austin via edX

Overview

This is the first in a series of courses on financial technology, also called Fintech. The course provides an overview of the most recent technological advances that are radically changing the financial services industry. These technological breakthroughs offer new ways for people to save, invest, borrow, and transact.

The course is structured in three modules. In the first module, we will discuss the characteristics and trends in finance and how emerging technologies are changing the financial industry. We will begin by looking at how efficient (or inefficient) the financial sector is. We will then learn how firms in the financial industry create value by reducing unit cost, increasing transparency, increasing competition, creating network effects, leveraging economies of scales, and lowering asymmetric information. And finally we will introduce three main technologies that are disrupting the financial sector: blockchain technology, machine learning, and Internet-of-Things.

In the second module, we will learn about the regulatory landscape that financial and fintech firms face. We will begin with an overview of the regulatory framework of the financial sector the United States with the understanding that the approach to regulating the financial sector is for the most part similar around the world. We will then proceed to look at recent initiatives on how to regulate fintech firms. Finally, we will conclude the module by looking at recent regulatory changes in Europe with respect to Open Banking, and at the pros and cons of regulatory sandboxes.

In the last module, we will complete our overview of the fintech sector by reading several articles and reports on the fintech industry, and discuss a business case on Ant Financial.

After you complete this course, you will have a broad understanding of the fintech landscape, and you will be ready to dive deep into the other courses of the fintech certificate.

Financial professionals are often required or encouraged to continue their education to practice their profession. For some associations, this program may be used for Continuing Education Credits. Please check with your local or national organization if the program qualifies.

Syllabus

Week 1 : Module 1 - Introduction to the Fintech Sector

- The Financial Sector Today

- Value Creation in Finance

- Emerging Technologies in Finance

- How do Financial Institutions Create Value

Week 2: Module 2 & 3 – Financial Regulation and the World of Fintech.

- The Regulatory Environment in the U.S.

- Regulating Fintech Companies

- Fintech Companies of the Day

- Business Case on Fintech

Taught by

Cesare Fracassi

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