FinTech Disruptive Innovation: Implications for Society

Go to Course: https://www.coursera.org/learn/fintech-disruption

Introduction

### Course Review: FinTech Disruptive Innovation: Implications for Society In today's rapidly evolving financial landscape, understanding the impact of technology on finance is crucial for professionals in the industry. The Coursera course, **"FinTech Disruptive Innovation: Implications for Society,"** is a comprehensive program that explores how disruptive innovations are reshaping the financial services sector and, consequently, the career prospects of those within it. #### Course Overview This course provides a panoramic view of how fintech innovations can create opportunities not only in the finance industry but also in broader societal contexts. It focuses on examining and analyzing the impact of these innovations on companies and individual careers in finance. Participants will delve into topics such as peer-to-peer lending, the diversity of fintech adoption across different countries, and the strategic implications for professionals in the sector. #### Syllabus Breakdown **1. Evolution vs Revolution** The course opens with a thorough exploration of evolutionary versus revolutionary innovations. This module establishes a foundational understanding of disruptive innovation within the context of fintech. By using peer-to-peer lending as a case example, the course stimulates critical thinking about how financial services are transforming in response to technological advancements. **2. Diversity of Impact** As fintech affects different participants differently, this module examines the varying rates of adoption based on geographic, economic, and technological factors. Understanding this diversity provides valuable insights for professionals looking to navigate the complexities of the global financial landscape, ensuring that they appreciate the unique challenges and opportunities that fintech presents. **3. Predicting the Future of FinTech** Forecasting the future of fintech can be a challenging endeavor. This module addresses the complexities of predicting market evolution and emphasizes the importance of the speed of change. By analyzing historical trends and potential future developments, learners gain a nuanced understanding of how established firms can adapt—or fail to adapt—to emerging competitors and innovations. **4. Implications for Careers** This module tackles a critical question for many learners: "How will this affect me?" It discusses the implications of fintech innovations for both individual careers and firms at large. Participants will explore risk-adjusted rewards, the advantages of staying with large, adaptive firms, and the evolving skill sets that will be paramount for success in the future of the finance industry. **5. Peer-graded Final Project** As a capstone to the course, the peer-graded final project encourages participants to apply their learning to their own professional contexts. By analyzing their current firm and career situation through the lens of fintech innovations, learners will develop actionable plans to enhance their career prospects, preparing them for the shifting landscape of the finance sector. #### Why You Should Take This Course - **Relevance:** As fintech continues to disrupt traditional finance, this course equips participants with knowledge crucial for navigating the industry. - **Expert Insights:** The course provides insights from industry leaders and working professionals, offering real-world context to theoretical concepts. - **Career Advancement:** Understanding the implications of fintech on career trajectories can provide a strategic advantage in a competitive job market, especially for those seeking to position themselves within innovative companies. - **Accessibility:** The online format allows for flexibility, making it easier for busy professionals to enhance their knowledge and skills at their own pace. #### Conclusion Overall, **"FinTech Disruptive Innovation: Implications for Society"** is an essential course for finance professionals eager to understand and harness the power of fintech innovations. Whether you are looking to transition into a fintech role, adapt your current position, or simply gain insights into the future of finance, this course provides the tools and knowledge necessary to stay ahead in a rapidly changing environment. I highly recommend this course not just for its content but also for its practical applications to career development within the dynamic finance sector.

Syllabus

Evolution vs Revolution

In this module, we will explore the nature of evolutionary versus revolutionary innovations and business transformations. Innovation disruption as a popular business concept will be examined in the context of the social and economic transformations enabled by FinTech innovations. A case example of peer to peer lending will be used to illustrate and explore these issues in a FinTech context.

FinTech innovations are not uniform in their impact on and adoption by different participants in the global economy. Differences in adoption, attitudes, and capabilities will be explored based on country, size, age, and access to capital or technology in an effort to better understand the likely pace of adoption and transformation that will result from FinTech innovations.

Predicting the future is easy, but being right in what you are predicting is hard. One challenge in regard to understanding the impact of change in the future is that the pace of change is often more important than the eventual nature of market evolution. If change is fast, large established firms are likely to be disrupted and face new competitors that will challenge prior industry structures. When change is slower, or more evolutionary in nature, large firms have time to adapt and thrive in spite of change (although it still may be hard to change culture, even if the changes are slow). In this module, we will examine both the evolution of FinTech markets and capabilities, and the likely pace of changes.

For many learners, the most important part of this course is going to be "so how will this affect me?" In this module, we will discuss and examine implications for both firms and individuals working in these types of firms for their future careers. Some conclusions might be unexpected, such as the risk-adjusted rewards for employees of large, innovative firms might be higher than the average returns in society for smaller startup employees (the founders might get rich, but employees of small firms do not always share in these riches). While it might be good to stay with a large financial services firm that is investing in and adapting to changes in the financial services industry, the skills that are needed to be successful in any career in financial services are likely to change in the future, and employees who are willing to invest in developing new skills and talents are more likely to success in the future.

This final project is designed to help you examine your own firm and your own career in the context of FinTech market innovations, and to develop a plan for improving your future career prospects and options.