FTMBA 2021_I Financial Technologies
Course code
MBA FIN635
Course type
FT MBA Course
Weekly Hours
2,0
ECTS
2.0
Term
HS 2020
Language
Englisch
Lecturers
Prof. Dr. Besim Burcin Yurtoglu
Please note that exchange students obtain a higher number of credits in the BSc-program at WHU than listed here. For further information please contact directly the International Relations Office.
Course content
This course studies technology-driven innovations in the financial sector; highlighting the potential role and applications of blockchain, cryptocurrencies, and artificial intelligence in various stages of the financial services industry. Such innovations can potentially disrupt existing industry structures, reshape their boundaries, and change the way firms create and deliver products and services. At the same time, they create privacy, regulatory and law-enforcement challenges. We study these issues in a format, which combines lectures, case studies, and experts from the industry.
These topics are organized under four topics:
- Why FinTechs?
- Financial Systems, Money, and Blockchain
- Blockchains, Capital Markets, and FinTechs
- Artificial Intelligence: Machine Learning, Deep Learning, and their Applications in Finance
Class dates
| Date | Time |
|---|---|
| Tuesday, 15.12.2020 | 08:45 - 16:00 |
| Wednesday, 16.12.2020 | 08:45 - 16:00 |
| Monday, 21.12.2020 | 08:45 - 16:00 |
Learning outcomes
The students should be able to understand the importance of FinTech within the Financial Services Industry, and also the roles of disruptive technologies such as blockchain and AI in reshaping this industry in combination with the workings of the regulatory framework.
Literature
1. Introduction: Why Fintech?Das, S.R., 2019, The Future of Fintech, Financial Management 48 (4): 981-1007.Dhar, Vasant and Stein, Roger, 2016, FinTech Platforms and Strategy, MIT Sloan Research Paper No. 5183-16.Philippon, T., 2016, The Fintech Opportunity. (Working paper). Manhattan, NY: New York University.2. Financial Systems, Money, and BlockchainDuffie, D., 2019, Digital Currencies and Fast Payment Systems: Disruption is Coming, Manuscript for presentation at the Asian Monetary Policy Forum.Friedman, Milton and Anna J. Schwartz, 1986, Has Government any Role in Money? Journal of Monetary Economics 17(1): pp. 37-62.McLeay, Michael, Amar Radia, and Ryland Thomas, 2014, Money Creation in the Modern Economy, Bank of England Quarterly Bulletin Q1, pp. 14–27.Nakamoto, Satoshi, 2008, Bitcoin: A Peer-to-Peer Electronic Cash System.Narayanan et al, Preface pp 3-22.The Economist, 2015, The Great Chain of Being Sure About Things.The Economist, 2017, Disrupting the Trust Business.Varian, Hal, 2004, Why Is That Dollar Bill in Your Pocket Worth Anything? New York Times (January 15, 2004).3. Blockchains, Capital Markets, and FinTechsDarolles, S., 2016, The Rise of FinTechs and their Regulation, Financial Stability Review 20, pp. 85-92.Foley, Sean and Karlsen, Jonathan R. and Putnins, Talis J., Sex, Drugs, and Bitcoin: How Much Illegal Activity Is Financed Through Cryptocurrencies? (December 14, 2018). Review of Financial Studies, Forthcoming. Available at SSRN: https://ssrn.com/abstract=3102645.Goldman Sachs Equity Research, 2016, Profiles in Innovation: Blockchain.Harvey, Campbell R., 2016, Cryptofinance, Available at SSRN: https://ssrn.com/abstract=2438299.Yermack, David, 2017, Corporate Governance and Blockchains, Review of Finance 21(1): pp. 7–31.4. Machine Learning, Artificial Intelligence, and Deep Learning, and their Applications in FinanceBerg, T., Burg, V., Gombović, A., & Puri, M.(2019).On the Rise of Fintechs: Credit Scoring using Digital Footprints.The Review of Financial Studies,https://doi.org/10.1093/rfs/hhz099.European Commission Joint Research Center, 2018, Artificial Intelligence: A European Perspective. Available online at: https://ec.europa.eu/jrc/en/publication/eurscientific-and-technical-research-reports/artificial-intelligence-european-perspective.Gentzkow, Matthew, Bryan T. Kelly, and Matt Taddy, 2017, Text As Data, Working Paper 23276.Jagtiani, Julapa and Catharine Lemieux, 2019, The Roles of Alternative Data and Machine Learning in Fintech Lending: Evidence from the LendingClub Consumer Platform, Financial Management, 1009-1029.Judea Pearl and Dana MacKenzie, 2018, Chapter 10: Big Data, Artificial Intelligence, and the Big Questions, in The Book of Why – The New Science of Cause and Effect, pp. 349-370.Routledge, Bryan R., 2019, Machine Learning and Asset Allocation, Financial Management, 1069-1094.
Learningmethods
Lectures
Guest lectures
Case studies
Exam
Term paper on a chosen topic or case (in groups 50%)
Take home exam (50%)