From new companies in California, New York, London, Europe, the Middle East, Asia and Africa, business visionaries are applying their imagination and specialized inventiveness up and down the budgetary administration's esteem chain.
This flood of advancement guarantees a transformation in the generation and utilization of money related administrations. Relevantly consolidating the words "money related" and "innovation" the FinTech upheaval guarantees changes that will democratize budgetary administrations.
The FinTech revolution holds much promise. Expected benefits include:
- Consumers who will get more choice, better-targeted services and keener pricing.
- Small and medium-sized businesses who will get access to new credit.
- Banks that will become more productive, with lower transaction costs, greater capital efficiency and stronger operational resilience.
- The financial system itself that will become more resilient with greater diversity, redundancy and depth.
- New forms of currency (like Bitcoin) that will change the way we think of and use the money.
- And most fundamentally, financial services that will be more inclusive; with people better connected, more informed and increasingly empowered.
Because of its seemingly vast and varied scope FinTech is not really understood by many in the real world, whether they be business executives, managers or staff (who fail to understand what technology can do) or technologists themselves (who may have scant knowledge of the practical needs/problems of business and finance).
This three-part course is a primer to understanding FinTech in all its forms and guises.
In Part 1 we take a high-level view of the FinTech world; the financial services value chain, FinTech’s definition, concept, scope, and terminology.
- Discover the financial value chain and how FinTech is affecting it.
- Identify the different functions that FinTech interacts with.
- Explore the range of innovative new services that FinTech is fostering.