Introduction to FinTech

This module provides a comprehensive introduction to Financial Technology (FinTech) and its transformative impact on the financial industry. Students will explore the evolution of FinTech through three major phases: infrastructure development, banking transformation, and the rise of startups in both developed and emerging markets. The module examines the typology of FinTech innovations, collaboration between traditional financial institutions and startups, and introduces regulatory considerations including the concept of RegTech and its future implications.

This module examines the revolution in payment systems and the emergence of digital currencies. Students will learn about individual payment innovations, mobile money in developing countries and its regulation, and Real-Time Gross Settlement (RTGS) systems. The module covers alternative finance methods, cryptocurrencies including stablecoins, their legal implications, and behavioral analysis. It also introduces blockchain technology as a foundational element of modern FinTech and explores applications like Ripple for creating new payment infrastructures.

This module explores the digitization of financial services and alternative financing methods that have emerged through technological innovation. Students will study the history of financial innovation, digital transformation of traditional financial services, and impacts on investment funds. The module covers various alternative finance models including crowdfunding (rewards, charity, and equity), peer-to-peer lending, marketplace lending, and the rise of Chinese TechFin companies. It also examines Initial Coin Offerings (ICOs) as a novel fundraising mechanism.

This module focuses on the regulatory aspects of financial technology and the emergence of Regulatory Technology (RegTech). Students will examine the evolution of FinTech regulations and the development of the RegTech ecosystem from the perspectives of financial institutions, startups, and regulators. The module covers the challenges faced by RegTech startups, applications of artificial intelligence in smart regulation and fraud detection, and innovative regulatory approaches such as regulatory sandboxes. It also explores ways to redesign financial infrastructure to better accommodate technological innovation.

This module analyzes the critical role of data in modern finance and the emergence of technology companies entering the financial services space (TechFin). Students will study the history of data regulation, how data is used in financial services, and applications of data analytics. The module covers major regulatory developments including PSD2, GDPR, and MiFID2, open banking APIs, data protection methods, digital identity, and the shift from Know Your Customer (KYC) to Know Your Data (KYD). It also examines governance issues related to artificial intelligence, privacy concepts, and cybersecurity challenges.

This module examines future trends in data-driven finance through case studies of innovative companies and analysis of emerging patterns. Students will study five transformative companies: Revolut, Alibaba, Aadhaar, Credit Karma, and Digibank, to understand different approaches to financial innovation around the world. The module concludes with an exploration of major trends shaping the future of FinTech, providing students with insights into how data-driven finance will continue to evolve and transform the global financial landscape.