Technological Innovations in Finance

FIN545 Technological Innovations in Finance examines the phenomenal rise and interest of the alternative providers of financial services, commonly known as the financial technology (fintech) businesses, in the financial industry. The fintech businesses and their founders come into the scene by bringing new technologies, disruptive business models and a totally different mindset to the delivery of affordable financial services. In this course, we will examine the changes and impacts brought forth to the financial industry and the economy due to these new participants. The course provides a historical overview of the delivery of financial services through the perspective of an incumbent bank and then extend the discussion by looking at the innovations and disruptions that were brought forward by the challengers. Different topics of financial services in both retail and investment banking -- payments, credit underwriting, fund raising, investment and trading -- will be covered in the course. Case studies on important fintech businesses are used throughout the course and significant events are discussed, such as how the Global Financial Crisis in 2007/2008 hastened the decline of incumbent banks� dominance in the delivery of financial services. To provide a balanced perspective, the course also examines how the incumbent banks are rising to the challenges posed by the fintech businesses and how they are adapting their business models to ensure longevity in their businesses. Overall, the course is aimed at providing fundamental understanding of financial innovations and relevant digital technologies and preparing students for new business models and the profound changes ahead in the finance industry.

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