Fintech: The Future of Finance

Offered By: The University of Texas at Austin via edX

Course Description

Overview

The trend in the financial industry is clear: Technology powered financial services is the way of the future, and it is critical that finance professionals have the technology acumen to ensure your firm is not left behind. It is becoming increasingly important for organizations to understand not only the application of expansive technological advancements like AI and machine learning in the area of finance, but also technologies that are integral to the future of financial services like distributed ledgers and algorithmic trading.

The Financial Technology Professional Certificate program provides an overview of the most recent technological advances that are radically changing the financial services industry, and all other industries that rely on automated financial transactions, as a result.

These technological breakthroughs offer new ways for people and organizations to save, invest, borrow, and transact. Learn how new technologies create value in the financial industry, from reducing unit cost, increasing transparency, increasing competition, creating network effects, leveraging economies of scales, and lowering asymmetric information. The program also explores the competitive landscape and the market opportunities and threats for incumbents and new entrants.

The program is divided into 4 courses.

Course 1 provides an overview of the Fintech sector
Course 2 focuses on distributed ledgers, blockchains, and cryptocurrencies
Course 3 analyzes the application of artificial intelligence and machine learning to the finance industry, from credit scoring models in marketplace lending and crowdfunding, to algorithmic trading and robo-advising
Course 4 concentrates on the internet of things, with a focus on insurance and electronic payments, including domestic mobile payments, open banking, and international remittances.

The program will cover both the business opportunities and growth areas in the fintech industry, as well as the technology underpinning the industry, from machine learning to blockchain, APIs and IoTs.

You can enroll in the entire 4-course program to gain a comprehensive knowledge of fintech, or select individual courses to hone in on specific topics and skills. 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

Courses under this program:
Course 1: Fintech: Overview of the Fintech Sector

This course provides a review of the most recent technological advances that are radically changing the financial services industry.

Course 2: Fintech: Blockchain for Business and Finance

This course provides a business-oriented examination of blockchain technology and its applications.

Course 3: Fintech: AI & Machine Learning in the Financial Industry

This course provides a detailed explanation of machine learning and its applications in finance.

Course 4: Fintech: IoT and APIs in the Financial Industry

This course provides an in-dept review of the technology of payments, API, open banking, insurtech and Internet-of-Things in finance.

Courses

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4 weeks, 5-6 hours a week, 5-6 hours a week
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This is the second in a series of courses on financial technology, also called Fintech. The course provides a business-oriented overview of blockchain technology, distributed ledgers, and cryptocurrencies.

The course is structured into four main modules.
1. In the first one, we will learn about cryptography. Having a basic understanding of hashing functions, encryption and decryption is essential to understand blockchain technology.
2. In the second module, we will dive deep into the technology of distributed ledgers, from creating transactions, to building blocks, and validating transactions.
3. In the third module, we will look at the business applications of blockchain technology, with a focus on financial services and cryptocurrencies. We will talk about cryptocurrencies, digital wallets and exchanges, and enterprise applications of blockchain. We will also read and discuss the latest reports on blockchain and HBS cases on Deutsche Bank and R3 Corda.
4. We will conclude the course by interviewing Prof. Tej Anand, an award-winning business-technology strategist, advisor, innovator, educator and practitioner who teaches blockchain technology courses in the McCombs School of Business at the University of Texas at Austin.
After you complete this course, you will be able to understand what blockchain and cryptocurrencies are, and the enterprise applications of blockchain technology.

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.
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3 weeks, 5-6 hours a week, 5-6 hours a week
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This is the fourth and last in a series of courses on financial technology, also called Fintech. This course provides an overview of the technology of payments, API, and in general Internet of Things.

The course is structured into four main modules.
1. In the first one, we will learn how IoT devices and application programming interfaces (or APIs) are used in finance. APIs are becoming essential instruments in finance and most other industries, and API-based fintech firms are very popular nowadays. We will also discuss how APIs will revolutionize banking services through “open banking”. Finally, we will learn the standards used by financial institutions around the world to communicate with each other.
2. The second module will focus on insurtech, the use of technology in the insurance industry.
3. The third module will survey the payment industry, from the way payments are encrypted, processed, and settled.
4. The fourth and final module will wrap up the course, and the entire fintech certificate. It will also provide a discussion of the future of fintech.
APIs and IoT are already a critical component of the backbone of the financial sector. Understanding the role they play is essential for any finance or tech manager, or student.

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.
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3 weeks, 5-6 hours a week, 5-6 hours a week
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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.
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4 weeks, 5-6 hours a week, 5-6 hours a week
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This is the third in a series of courses on financial technology, also called Fintech. This course provides an overview of machine learning applications in finance.

The course is structured into three main modules. In the first one, we will survey the crowdfunding market. We will talk about equity crowdfunding and P2P or marketplace lending.

In the second module, we will first learn what artificial intelligence is, and the attempts to create machines and algorithms that can replicate, mimic, and replace human activities. We will review the main machine learning tools, starting from measuring the accuracy of predictive models, to basic linear regressions, linear and non linear machine learning models, and deep learning, and their applications in finance. We will also use python to model credit application decisions.

The third module focuses on quantitative investments, roboadvising, and finance in social platforms.

Having a good grasp of machine learning is becoming a necessary skill in the labor market. After you complete this course, you will be able to have a detailed understanding of what machine learning is, and how it is applied in the financial sector.

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.

Taught by

Cesare Fracassi