The digital transformation is radically rewriting the rules of competition in the financial service industries. This module aims to explore the forces shaping the new competitive dynamics: product and service digitalization, changing customer demands and new regulations. Together, these forces give rise to completely new market structures that force organizations to compete in new ways. At the heart of the digital transformation rests an increased orientation towards digitally enabled platform-based business models. This module covers how firms compete with platforms, how platforms change the dynamics of affected industries, and how digitalization streamlines operations by lowering costs and increasing efficiency. It also contextualizes the ideas behind digital platform thinking using examples both from financial service companies and from the digital giants that excel in platform-based businesses. In addition, it introduces the business ecosystem metaphor as a way to think of and model the increasingly complex relationships between actors in the digital financial service industries. It addresses how digital technology strategies become inseparable from business strategy in the digital era.
A Demonstrate a systematic understanding of digital finance and a critical awareness of current issues related to financial market digitalization. B Demonstrate originality in the application of knowledge relating to financial market digitalization, together with a practical understanding of established, applied techniques of research and analysis. C Evaluate real-life cases and develop critiques of them and, where appropriate, propose new practices
It consists of weekly lectures and seminars. Students will learn basic concepts and highly practical skills from weekly lectures. In each week, they will be able to apply the basic concepts to analyze real-world cases in the tutorials.