FinTech and the Transformation in Financial Services

Start Date: 07/05/2020

Course Type: Common Course

Course Link: https://www.coursera.org/learn/fintech-transformation-financial-services

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About Course

The FinTech revolution is rapidly transforming the financial industry. The use of digital technologies is the norm, and together with regulatory and market changes it is creating a revolution. After completion of the module, you'll be able to: describe the changes that influence the financial sector, understand the complexity of the payment infrastructure, identify and explain the key payment instruments and how they function, understand the types of money that exits, and recognize changes in the regulatory frameworks and how they inhibit or promote innovation. To begin, I recommend taking a few minutes to explore the course site. A good place to start is the navigation bar on the left. Click Course Content to see what material we’ll cover each week, as well preview the assignments you’ll need to complete to pass the course. Click Discussions to see forums where you can discuss the course material with fellow students taking the class. Be sure to introduce yourself to everyone in the Meet and Greet forum! This course should take about four weeks to complete. You can check out the recommended course schedule below to see a quick overview of the lessons and assignments you’ll complete each week. By the time you finish this course, you’ll have mastered mastered the transformational forces of digitalization and the new competitive dynamics it gives rise to, learned from leading financial companies and seen inspirational examples from the digital masters. Good luck as you get started. I look forward to seeing you in class!

Course Syllabus

The FinTech revolution is rapidly transforming the financial industry. The use of digital technologies is the norm, and together with regulatory and market changes it is creating a revolution. To begin, we recommend taking a few minutes to explore the course site. A good place to start is the navigation bar on the left. Click 'Course Content' to see what material we will cover each week, as well preview the assignments you will need to complete. Click 'Discussions' to see forums where you can discuss the course material with fellow students taking the class. Be sure to introduce yourself to everyone in the 'Meet and Greet' forum! This course should take four weeks to complete. You can check out the recommended course schedule below to see a quick overview of the lessons and assignments you will complete each week. After completion of the course, you'll be able to: describe the changes that influence the financial sector, understand the complexity of the payment infrastructure, identify and explain the key payment instruments and how they function, understand the types of money that exits, and recognize changes in the regulatory frameworks and how they inhibit or promote innovation.

Deep Learning Specialization on Coursera

Course Introduction

FinTech and the Transformation in Financial Services In this course we explore the intersection of finance and technology in the global economy. We will look at key areas of finance for technology companies such as Apple, Google, Microsoft and others. We will also look at new areas in finance for new technology firms to enter the market. We will also look at companies like Uber and others that are disrupting traditional financial services. The course includes a strong focus on the intersection of finance and technology in the FinTech space. We will continue with an emphasis on the role of finance in the transformation of the financial system so that changes for the better are implemented in the financial industry. This course is primarily focused on the financial aspects of FinTech companies. We will not go into detail about the payment processing industry or the payment network. We will however focus on key areas for the future of FinTech companies. We will also look at areas for the future of finance companies, namely algorithmic trading, asset pricing models, settlement banks, liquidity markets and cross-currency transactions. After completing this course, students will be able to: 1. Describe FinTech companies and their financing and valuation strategies 2. Explain the basic concepts of FinTech companies 3. List the key areas of finance for FinTech companies 4. Define key areas of finance for FinTech companies 5. Identify the market for FinTech companies 6. Identify the key areas of finance for FinTech companies 7. Define the key areas

Course Tag

Open Banking Financial Technology Crowdfunding Peer-To-Peer Lending

Related Wiki Topic

Article Example
Social media in the financial services sector Social media has created entirely new products for the financial services sector, revolutionizing products and developing new industries such as fintech through the merging of social technology and financial services. Fintech is a way to streamline financial services and make them easier to use and access. Since this industry is more novel than the established financial services sector, fintech companies are generally startups. Although these companies are popping up all over the world, fintech companies are the most prominent in China, where digital banking, investing, and lending have become mainstream. According to consulting firm Accenture, 390 million people in China have registered to use mobile banking. This figure is more than the population of the United States. Albeit not as popular in the U.S., the most prominent American fintech company, Venmo, blends technology and financial services together on a social platform.
FinTech in India FinTech or financial technology has emerged as a relatively new industry in India. FinTech is an industry comprising companies that use technology to offer financial services. These companies operate in insurance, asset management and payment etc.
Monex financial services Monex Financial Services, a private financial services company, has its headquarters in County Kerry, Ireland. The company, best known for its core FinTech solution, Dynamic Currency Conversion (DCC).
Wharton FinTech The primary objective of Wharton FinTech is to connect academics, innovators, investors, and other thought leaders within the FinTech industry to each other and to the ideas that are reinventing global financial services.
Fintech awards India FinTech Awards is an event organized by the India FinTech Forum along with several startup accelerators. It is a prestigious award for fintech firms, and recognizes their efforts to change the way financial services are delivered. The winners are decided by a panel of industry stalwarts. The event focuses on actual working product demonstrations to encourage innovation and entrepreneurship.
Financial technology The role of FinTech in increasing customer satisfaction in financial services was recognised in December 2015, with customer satisfaction of FinTech 8% higher than banking.
FinTech in India According to the report of The National Association of Software and Services Companies (NASSCOM), India has a presence of around 400 companies in the fintech space, with an investment of about $420 million in 2015. The NASSCOM report also estimated the fintech software and services market to grow 1.7 times by 2020, making it worth $8 billion.
Social media in the financial services sector Although dumb pipes mostly refer to telecommunication companies, now that fintech companies are gaining more of the financial services’ market share, there is fear that banks may also become dumb pipe companies. In regards to the telecommunication sector, an example of a dumb pipe company would be a service provider like Verizon. Before smartphones, primarily Apple’s iPhone, became popular, companies like Verizon once controlled everything on a phone from the applications to the ringtones available. However, Apple took over and decided to focus solely on the phone and its interface instead of its wireless service. Consumers became loyal to Apple due to interface exposure and less loyal to their wireless providers, like Verizon. If a customer moved to a different area where AT&T’s signal was stronger than Verizon’s, he/she would easily switch providers while keeping their iPhone, ultimately making telecommunication companies dumb pipes. The same thing that happened to the telecommunication industry is now happening to the financial services sectors. Customers are becoming loyal to the interfaces created by fintech companies and merely connecting their bank accounts to fintech programs. Essentially, there is nothing stopping the consumer from switching their bank and continuing to connect their accounts to services provided by fintech companies. The main concern for financial services companies is that by becoming a dumb pipe, they lose significant value.
Financial technology Financial technology, also known as FinTech, is an industry composed of companies that use new technology and innovation with available resources in order to compete in the marketplace of traditional financial institutions and intermediaries in the delivery of financial services. Financial technology companies consist of both startups and established financial and technology companies trying to replace or enhance the usage of financial services of incumbent companies.
Financial services in Gibraltar Subject to notifying the Financial Services Commission (Gibraltar), which must be satisfied that they meet certain criteria in accordance with the relevant EU Directive, Gibraltar licensed or authorised financial institutions can provide services throughout the EU and European Economic Area without having to seek separate licences or authorisation in the host Member State. This is known as the "passporting" of financial services.
Financial services in the Republic of Ireland The regulator of financial services in the Republic of Ireland is Central Bank and Financial Services Authority of Ireland.
In-store financial services The major providers of these services in the U.S. include Western Union and MoneyGram, who provide financial services within retail locations such as supermarkets and convenience stores.
Fintech awards The "Benzinga Fintech Awards" ("BZ Awards") take place in New York. Their purpose is to "showcase the companies with the most impressive technology, who are paving the future in financial services and capital markets." There are 18 awards. In 2016, more than 25,000 people voted for their favorites among 223 companies from around the globe.
Secretary for Financial Services and the Treasury The Secretary for Financial Services and the Treasury (), head of Financial Services and the Treasury Bureau of the Hong Kong Government, is responsible for the monitoring of financial services sector and maintaining the assets of the government.
Social media in the financial services sector Social media has affected the financial services sector by allowing for a global reach, improving customer service, advancing marketing strategies, and even creating new products and services offered to customers. Financial companies are able to overcome geographical obstacles and reach customers across the globe by connecting with their customers on a more personal level by using social media as a real-time platform of communication. Being an integral part of everyday life, social media and technology have also led to the development of a new industry, financial technology (fintech).
Fintech awards The "European FinTech Awards" is an organization that aims to disrupt traditional financial intuitions by providing a platform for fintech entrepreneurs to collaborate with one another. Like the Dutch and African awards, the European awards are the result of an initiative of Alex van Groningen BV, a Dutch financial publisher.
Wharton FinTech Wharton FinTech is currently sponsored by CommonBond, Wharton Research Data Services (WRDS), Pave, and the Infrastructure Group.
Financial services in Gibraltar Financial institutions operating in Gibraltar are regulated by the Gibraltar Financial Services Commission.
Financial Services and the Treasury Bureau Financial Services Bureau and Finance Bureau were merged to become Financial Services and the Treasury Bureau on 1 July 2002, headed by the Secretary for Financial Services and the Treasury. A Financial Services Branch and a Treasury Branch were created within the Bureau,each headed by a permanent secretary of D8 rank on the Directorate Pay Scale.
Financial Services and Markets Tribunal The UK Financial Services and Markets Tribunal was an independent judicial body established under Section 132 of the Financial Services and Markets Act 2000, which heard references arising from decision notices issued by the Financial Services Authority (FSA). In April 2010 the Tribunal was abolished and its functions transferred to the Upper Tribunal.