The growing fintech movement is transforming the financial industry–from disrupting conventional models to generating new revenue streams. FinTech is impacting various aspects of the financial system and these developments are creating unparalleled opportunities to drive digital innovation and transform financial services. These also present new challenges for financial stability and financial supervision. To tap into FinTech and power growth in the future, finance professionals must stay ahead of the fast-moving technologies, regulations and innovations shaping the movement. This course offers insights into key FinTech concepts such as open finance, new business models in banking, the economics of payments, and data as a key resource in forging the digital identity of financial systems. It provides an overview of the range of FinTech developments, identifying the opportunities and challenges and the implications for the stability of the financial system.

The course will cover the following areas:

• Overview of Financial Technology
• Demand and supply forces shaping modern fintech
• Applications of fintech in the banking sector
• Digital economy & disruptive innovation
• Digital currency
• New business models in banking
• Current trends in financial technologies:
  • Mobile Payments
  • Blockchain & ledger technology
  • Online trading
  • Omnichanel
  • Crowdsourcing
• Data analytics in financial sector
• Cyber & information security
• FinTech and stability of the financial system
  • Links between FinTech and market structure
  • Benefits and risks of FinTech to financial stability

Learning Outcomes

At the end of the course, participants should be able to:

• Understand the forces accelerating fintech in modern financial systems
• Understand the areas in which banks are applying fintech
• Identify the impact of fintech on the competitive dynamics in the financial services industry
• Understand security threats in the Financial Technology space
• Gauge the strategic role of data in the financial sector
• Explore the current trends in the Financial Technology space
• Examine the effects of financial regulations on the use of technology and business models in finance
• Appreciate the links between FinTech and market structure
• Appreciate the benefits and risks of FinTech to the financial stability

Target Group

The training would be useful for staff in the following departments of the Bank:

• Financial Stability
  • Banking Supervision
  • Banking
  • Financial Markets
  • Other Financial Institutions Supervision