FinTech and the Transformation in Financial Services

Go to Course: https://www.coursera.org/learn/fintech-transformation-financial-services

Introduction

### Course Review: FinTech and the Transformation in Financial Services In today's rapidly evolving financial landscape, understanding the intersection of technology and finance is no longer optional; it's essential. The "FinTech and the Transformation in Financial Services" course on Coursera is designed precisely for those looking to grasp the nuances of this digital revolution. This review delves into the course structure, its content, and why it’s a must for anyone interested in the future of finance. #### Course Overview The FinTech revolution is reshaping the financial industry as we know it. With the burgeoning reliance on digital technologies along with regulatory transformations, this course offers a comprehensive exploration of how these elements collaborate to facilitate a new era in finance. By the end of the course, participants can expect to walk away with a robust understanding of various critical topics, including: - The dynamic changes influencing the financial sector - The complexity of payment infrastructures - The functionality and types of key payment instruments - Different forms of money - The impact of regulatory frameworks on innovation #### Syllabus Breakdown The course spans a four-week timeline, with structured weekly content that helps students progressively build their knowledge base. 1. **FinTech Essentials**: The initial module acts as an introduction to FinTech, discussing six distinct domains within the industry. This foundational knowledge includes insights into ongoing investments in FinTech and how various technologies are transforming traditional financial models. 2. **Money and Payments**: Here, students dive deeper into the world of money. This module examines the historical context of money, the essential differences between central bank money and commercial bank money, as well as a wide array of payment instruments. Understanding these core concepts is vital for anyone looking to navigate today's financial ecosystem. 3. **Payment Systems**: The complexity of digital payment systems is addressed in this module, which explores payment processing from multiple perspectives—bank level, national level, and cross-border analysis. This multifaceted approach enriches a student's understanding of how payment ecosystems function on a broader scale. 4. **Lending and Crowdfunding**: The final module tackles some of the most transformative trends in finance, such as peer-to-peer (P2P) lending, crowdfunding, and the concept of open banking. Participants will learn how these trends are redefining financial services and what this means for consumers and businesses alike. #### Learning Experience One of the significant strengths of this course is its engaging and interactive nature. The use of forums encourages discussion and collaboration among students, allowing for a richer learning experience. The "Meet and Greet" forum, in particular, fosters a sense of community and networking, which is invaluable as students connect with like-minded individuals sharing similar interests. The course is designed to be completed within approximately four weeks, making it manageable for busy professionals or students. With a well-structured schedule and thoughtful assignments, learners can expect an efficient yet thorough educational experience. #### Recommendation I wholeheartedly recommend the "FinTech and the Transformation in Financial Services" course for anyone looking to deepen their understanding of the financial technology landscape. Whether you are a finance professional, a tech enthusiast, or a student, this course offers valuable insights that are not only relevant but also essential for navigating the future of financial services. With its well-structured syllabus, interactive elements, and practical knowledge, this course will equip you with the tools to comprehend the rapid changes occurring in the financial sector. Enroll today to become part of the FinTech revolution and elevate your career or academic aspirations in this exciting field!

Syllabus

FinTech and the Transformation in Financial Services

The FinTech revolution is rapidly transforming the financial industry. The use of digital technologies is the norm, and together with regulatory and market changes it is creating a revolution. To begin, we recommend taking a few minutes to explore the course site. A good place to start is the navigation bar on the left. Click 'Course Content' to see what material we will cover each week, as well preview the assignments you will need to complete. Click 'Discussions' to see forums where you can discuss the course material with fellow students taking the class. Be sure to introduce yourself to everyone in the 'Meet and Greet' forum! This course should take four weeks to complete. You can check out the recommended course schedule below to see a quick overview of the lessons and assignments you will complete each week. After completion of the course, you'll be able to: describe the changes that influence the financial sector, understand the complexity of the payment infrastructure, identify and explain the key payment instruments and how they function, understand the types of money that exits, and recognize changes in the regulatory frameworks and how they inhibit or promote innovation.

In this module, we begin exploring FinTech. We start off by get to know Fintech, by looking into six different FinTech domains, followed by FinTech as an area of investments. Then we dig into the technologies of FinTech, before we look at the regulatory changes that transforms the industry. After completion of the module, you will be able to: summarize the domains of FinTech; describe the FinTech market and make arguments for what the sector is emerging; outline the Financial technologies and how the are transforming the market; give examples of how regulations influence the FinTech market

At the heart of the Fintech revolution you will find money and payments. It makes the world go around. In this module, we will learn about money and its history, difference between central bank money and bank money, different payment instruments, and finally how payment instruments are used in contemporary payment methods.

Money has several roles, including a medium of exchange, i.e. as a payment. In this module, we focus on the complex digital platforms or eco-systems that surrounds payments. We this from four different perspectives or level of analysis, including bank level, national level, and cross border level. However, first we shall look into the payment process.

The digital transformation is radically transforming the financial services as we used to know them and new areas and domains emerge. In this module, we are focusing on three areas. First, we look at P2P lending, then crowdfunding, before we conclude with open banking.