Fintech Industry
A.Y. 2019/2020
Learning objectives
The course aims to give an in-depth overview of the FinTech Industry, a new part of the financial industry that is radically innovating the way financial services are built and offered. The course examines the FinTech characteristics, their activities and related risks. Additionally, the course provides an overview of the main strategies that incumbents are following in the new market conditions and the main challenges in FinTech security and regulation.
Expected learning outcomes
At the end of the course the student knows:
· Definitions, origins and the relevance of the phenomenon
· A taxonomy of the main Fintech Business Applications
· Equity based financing: pure equity crowdfunding, club deals
· Lending-based financing: lending crowdfunding, P2P lending, invoice lending, trade credit, club deals
· Traditional financial advice and robo-advice
· Cash management services, electronic moneybox
· Taxonomy of cryptocurrencies
· ICOs, market capitalization
· Currency transfer, payment solutions
· Technology innovation in insurance and business process transformation
· Global trends and government initiatives in RegTech
· Definitions, origins and the relevance of the phenomenon
· A taxonomy of the main Fintech Business Applications
· Equity based financing: pure equity crowdfunding, club deals
· Lending-based financing: lending crowdfunding, P2P lending, invoice lending, trade credit, club deals
· Traditional financial advice and robo-advice
· Cash management services, electronic moneybox
· Taxonomy of cryptocurrencies
· ICOs, market capitalization
· Currency transfer, payment solutions
· Technology innovation in insurance and business process transformation
· Global trends and government initiatives in RegTech
Lesson period: Second trimester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course cannot be attended as a single course. Please check our list of single courses to find the ones available for enrolment.
Course syllabus and organization
Single session
Responsible
Lesson period
Second trimester
Course syllabus
Introduction: a common understanding
This introductory class is aimed at creating a common understanding of the interrelated core functions of the financial services industry, the banking business and the changing landscape, where new competitors enter the market to transform and disrupt.
What is Fintech
Definitions, origins and the relevance of the phenomenon
Fintech perspectives: banks, enterprises, investors, consumers
A taxonomy of the main Fintech Business Applications
Fintech Business Applications: Financing
Equity based financing: pure equity crowdfunding, club deals
Lending-based financing: lending crowdfunding, P2P lending, invoice lending, trade credit, club deals
Theoretical framework: information asymmetries; credit scoring; big data and data analytics
Fintech Business Applications: Investment
Trading for retail and institutional customers
Traditional financial advice and robo-advice
Cash management services, electronic moneybox
Theoretical framework: diversification and CAPM
Fintech Business Applications: Payments and retail transactions
Currency transfer, payment solutions
Theoretical framework: network economies of scale
Cryptocurrencies
Taxonomy of cryptocurrencies
Blockchain technologies, DLT
ICOs, market capitalization
Theoretical framework: market microstructure
Insurtech
Technology innovation in insurance and business process transformation
Customer segments, trends, risk reduction issues, financial inclusion
Theoretical framework: the economics of insurance companies, law of large numbers
RegTech
FinTech regulation and security to society
Global trends and government initiatives in RegTech
Theoretical framework: the reasons for financial sector regulation
FinTech risk management
Risk management process
Internal controls
Compliance with financial requirements and government regulation
Theoretical framework: asset and liability management
Implications for established business
Strategies for banks and insurance companies
Competing on technological innovation
Redefinition of business models: innovative apps, tailor-made customer experiences, Fintech partnerships, innovative start-ups
Theoretical framework: market structure and business models
This introductory class is aimed at creating a common understanding of the interrelated core functions of the financial services industry, the banking business and the changing landscape, where new competitors enter the market to transform and disrupt.
What is Fintech
Definitions, origins and the relevance of the phenomenon
Fintech perspectives: banks, enterprises, investors, consumers
A taxonomy of the main Fintech Business Applications
Fintech Business Applications: Financing
Equity based financing: pure equity crowdfunding, club deals
Lending-based financing: lending crowdfunding, P2P lending, invoice lending, trade credit, club deals
Theoretical framework: information asymmetries; credit scoring; big data and data analytics
Fintech Business Applications: Investment
Trading for retail and institutional customers
Traditional financial advice and robo-advice
Cash management services, electronic moneybox
Theoretical framework: diversification and CAPM
Fintech Business Applications: Payments and retail transactions
Currency transfer, payment solutions
Theoretical framework: network economies of scale
Cryptocurrencies
Taxonomy of cryptocurrencies
Blockchain technologies, DLT
ICOs, market capitalization
Theoretical framework: market microstructure
Insurtech
Technology innovation in insurance and business process transformation
Customer segments, trends, risk reduction issues, financial inclusion
Theoretical framework: the economics of insurance companies, law of large numbers
RegTech
FinTech regulation and security to society
Global trends and government initiatives in RegTech
Theoretical framework: the reasons for financial sector regulation
FinTech risk management
Risk management process
Internal controls
Compliance with financial requirements and government regulation
Theoretical framework: asset and liability management
Implications for established business
Strategies for banks and insurance companies
Competing on technological innovation
Redefinition of business models: innovative apps, tailor-made customer experiences, Fintech partnerships, innovative start-ups
Theoretical framework: market structure and business models
Prerequisites for admission
Basic knowledge of financial intermediaries
Teaching methods
Learning by doing, group work, class presentation
Teaching Resources
Tanda, Schena (2019). FinTech, BigTech and Banks, Palgrave
Assessment methods and Criteria
Attending: individual assignment
Non-attending: written exam, open questions
Non-attending: written exam, open questions
SECS-P/11 - FINANCIAL MARKETS AND INSTITUTIONS - University credits: 6
Lessons: 40 hours
Professor:
Vandone Daniela
Shifts:
-
Professor:
Vandone DanielaProfessor(s)