The aim of this module is to provide a critical overview and awareness of the innovative use of technology in the design and delivery of new financial services and products. It will provide students with an understanding of the updated technologies underlying the financial markets, e.g. cryptocurrencies, robot financing, blockchain, digital banking and payment, as well as their broader ecosystem etc. The students will develop the ability of critically evaluating disruptive technologies currently being used by FinTech organisations, and assessing the impact of disruptive technologies on the wider financial services and markets. It will differentiate traditional financial systems from the alternatives being offered by current FinTech development.
A Demonstrate understanding of how innovative technologies have been transforming the financial industry, identify these technologies and recognise their potential to create new financial services and products and generate wealth. B Demonstrate recognition of the basic components of blockchains and cryptocurrency transactions, including how peers achieve consensus, programming languages used, how blockchains are secured and digital signatures. C Identify different products and services involved in the FinTech financial ecosystem and evaluate their innovative features within the context of different business scenarios. D Evaluate the rigour and validity of published FinTech research, and critically assess their relevance in practice including how the financial services are continuously affected by technological progress.
The overall teaching strategy is that learning sets will be used as the basis for problem-based learning scenarios designed to include case studies, class-based activities, research articles and web-based materials. Students will be encouraged to draw upon and share their diverse cultural and managerial experiences. An underlying principle of the learning and teaching strategy is to develop students as reflective practitioners and to encourage engagement with continuous professional development. Students will have directed reading from the texts and other sources and their learning is reinforced with exercises and seminars following each week’s lecture. The mid-semester group report will provide both summative and formative assessment and the formative element is also supported by regular practice in class. Students are encouraged to link their studies on this module to their wider work on the emerging financial technology and innovation studies. In the case study sessions which are included in the seminar, students will learn how to assess the viability of a FinTech business model and critically evaluate the benefits and risks of disruptive innovations in FinTech, from both a micro and macro-economic perspective.