Fintech Master Class

If your business needs to leverage technology to create better financial services, this program will help you understand disruptions in the fintech industry across a broad cross-section of products and services, from traditional banking to blockchain. The goal is for you to create an action plan to foster innovation in your organization. You will learn how fintech can help you reach untapped markets, reduce costs, create economies of scale, and improve customer experience.

About this training:

This program details the current state of fintech. It leads you from an overview of how technology is revolutionizing the financial sector to the intricacies of international compliance and the complexities of blockchain. It also analyzes what could be coming next in fintech, peer-to-peer lending, real estate, and insurance.

Outline:

  • An understanding of how and why FinTech has evolved, including the significance of Open Banking
  • An appreciation of the key technologies underlying FinTech including cloud computing, machine learning, artificial intelligence,
  • blockchain, smart contracts and distributed ledgers
  • Awareness of market trends, the competitive landscape and the factors determining winners and losers
  • Familiarity with FinTech sub-sectors such as RegTech, Robo-advisors, Challenger Banks, Personal Financial Management, Digital
  • Identity and Cryptocurrencies, and some of the key players
  • An understanding of the way that FinTech is disrupting the key payments market and its sub-sectors, and the likely future direction for this market
  • The ability to identify opportunities and threats for different businesses
  • Action points for market participants, including an understanding of new ways of working such as Agile, Lean and DevOps

What will you learn:

Week 1: Evolution of Digital for Banks & Open Banking

  • 1st Generation: digital within a multi-channel context
  • 2nd Generation: the Un-bundling and Re-bundling of financial services
  • Open Banking including Europe’s PSD2 regulation

– what is Open Banking

– the implicit vision: Smart Digital Assistant

– challenges and opportunities

– Open Banking in practice

  • 3rd Generation: future financial services in the context of Digital Lives
  • Key strategic choices for banks
  • Examples of how different global markets are developing

Week 2: Key Technology Enablers

  • Explanation of key technology enablers driving FinTech
  • Cloud Computing and the API Economy

– what is cloud computing

– jargon-busting: PaaS, IaaS, SaaS, public/private/hybrid

– some of the key technology enablers underlying cloud computing: hardware virtualisation and service-oriented architecture

– the API economy and how this is key to digital disruption of financial services

  • Machine Learning and Artificial Intelligence

– what is Machine Learning

– applications in financial services

– distinction between Machine Learning and Artificial Intelligence

  • Distributed ledgers, blockchain, cryptocurrencies and smart contracts

– compare central ledgers vs distributed ledgers

– what is different about blockchain

– explanation of the key concepts used in blockchain

– how cryptocurrencies, ICOs and smart contracts work

– assessment of potential future significance of these technologies

Week 3: Battlegrounds & Sub-Sectors

  • Framework for understanding the different FinTech battlegrounds

– who are the participants, what is the prize and what factors are determining the winners and losers?

– regional Variation

  • RegTech

– what is RegTech

– key sub-sectors

– examples of key players from the KYC/AML sub-sector: what do they do and why does it create value

  • What are the following FinTech subsectors (with examples of key players) and what is the outlook for them:

– wealth management: social investment and robo-advisors

– P2P/Marketplace Lending

– Personal Financial Management (PFM) and Challenger Banks

  • Digital identity

– the historical evolution of identity

– the problem/opportunity of Digital Identity

– national Identity Scheme models from around the world

– how is FinTech seeking to address Digital Identity

– future outlook and opportunity for banks

 Week 4: Payments

  • Why payments is a key sector of FinTech
  • Segmentation of the payments market and macro trends
  • Bank revenues from payments
  • Jargon-busting in payments
  • The payments ecosystem: issuers, acquirers and schemes
  • The four-party model for cards
  • Cards vs ACH: the battle for the payment rails
  • P2P payments and remittances: market trends and examples of key players
  • “App & Pay” vs “Tap & Pay”: the battle for physical commerce
  • Regional variation in eCommerce payment
  • Mobile contactless payment: a cautionary tale!
  • Overview of trends impacting evolution of payments
  • Future of payments & shopping: contextual payments & cognitive commerce

Week 5: Winning Formula

  • The legacy issues facing incumbents
  • Winning formula for banks

– strategy & propositions

– delivery

  • Impact on business models
  • Ways of working for the digital era

– Agile vs Waterfall

– Lean

– DevOps

  • How are banks investing in FinTech: different models
  • Examples of leading exponents
  • Models for driving digital innovation

Eligibility:

This program is appropriate for a wide range of professionals:

  • Mid- to senior-level management in finance
  • CXOs of fintech startups
  • Senior management leading fintech function
  • Technology, growth, and innovation consultants
  • Professionals working in real estate, insurance, risk, compliance, and regulatory fields

Training Level: Advanced

Benefits:

  • Duration:

– 6 weeks, online

– 4-6 hours per week

  • Upon successful completion of the program, you will earn a digital certificate of completion from the Wharton School.

 

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Working hours

Monday 9:30 am - 6.00 pm
Tuesday 9:30 am - 6.00 pm
Wednesday 9:30 am - 6.00 pm
Thursday 9:30 am - 6.00 pm
Friday 9:30 am - 5.00 pm
Saturday Closed
Sunday Closed