FI5312 Financial Technology

Indicative module guide 2024-2025

Module type and semester

Option (20 credits), Semester 2

Module coordinator

Dr Jimmy Chen

Contact

Dr Chen: xc38@st-andrews.ac.uk

Aim

Financial Technology (FinTech) has seen a dramatic increase of popularity in terms of business applications but also academic research in the last decade. Importantly, FinTech is not only improving profit-margins of financial service companies but also helps to democratise finance and support responsible financial enterprises. The module equips students with a sound understanding of technologies underlying FinTech by introducing advancements in blockchain, machine learning and artificial intelligence. Building on this technological basis, it provides an overview of key trends and discuss the impact of FinTech on financial services such as payments, investing, lending, borrowing and spending.

The aim of this module is to introduce the changing landscape of financial systems and services and discuss possible factors driving and hindering this change. To do so, the module has the following objectives. First, it helps to define Financial Technology by discussing the influence of technology on all elements of financial services. This includes but is not limited to role and importance of banks, payment and point-of-sales innovation; the current trends in FinTech, Blockchain and crypto-currencies; crowdfunding and peer-to-peer platforms. Second, the module discusses the relevance of FinTech for emerging markets and the social impact of FinTech for example for the ‘under-banked’ or otherwise financially excluded individuals.

Method of teaching and learning

  • 11 x weekly 2-hour lectures
  • 9 x weekly 1-hour seminars

Learning outcomes

By the end of the module, students should have developed:

  • understanding of FinTech
  • contextual awareness of intermediation and the use of money in financial technology
  • awareness of the role and importance of banks; payment and point-of-sales innovation
  • knowledge of current trends in FinTech: Blockchain and Electronic currencies
  • knowledge of capital and Investment; equity crowdfunding; peer-to-peer platforms
  • analysis of FinTech startups and FinTech hubs
  • recognition of the role of emerging markets in, and social impact of, FinTech
  • awareness of the regulatory and societal perspectives of FinTech.

Indicative topic outline

Week 1

Introduction

Week 2

Artificial Intelligence (AI)

Week 3

Generative AI

Week 4

Stablecoins and CBDC

Week 5

FinTech Security and Regulation

[Spring Vacation Week]

Week 6

Automation and Open Banking

Week 7

Automation and Open Banking

Week 8

Crowdfunding

Week 9

Equity Crowdfunding

Week 10

Independent Learning Week

Week 11

Marketplace Lending

Week 12

Democratising Role of FinTech

Assessment

There are three assessed elements:

  • Class test I (35%)
  • Class test II (35%)
  • Group project (30%).

Reading list

Main texts

The Routledge handbook of fintech (2021) edited by K. Thomas Liaw

Disrupting finance: Fintech and Strategy in the 21st century by Lynn, T., Mooney, J. G., Rosati, 
P., & Cummins, M. (2019). Springer Nature

FinTech Revolution - Universal Inclusion in the New Financial Ecosystem by S. Blakstad & R.
Allen (2018). Springer Nature.

18 January 2025

Organisation of modules may be subject to change without notice.