Principles in Financial Technology
1st Semester, Course Code: ΜΕΧΤΕ101
Credits: 7,5
Learning Outcomes
The financial services industries are changing rapidly with the emergence of financial technology (FinTech). The course offers an introduction to the foundations and business applications of FinTech. The topics include big data, open data, automation, machine learning, generative AI and robo-advising, P2P lending, crowdfunding, blockchain, cryptocurrencies, smart contracts, initial coin offerings (ICOs), NFTs, payments and Payment Initiation Service Providers (PISPs), Account Initiation Service Providers (AISPs), Know Your Customer (KYC) platforms, Open Data, WealthTech, InsurTech and PropTech, etc.
Students are expected to develop a broad understanding of the recent FinTech development and its impact on different parts of the financial world. Upon successful completion, students will have the knowledge and skills to:
- Describe technological innovations influencing the provision of financial services
- Determine how major advances in artificial intelligence and machine learning are applicable to specific finance problems
- Demonstrate basic knowledge of techniques in artificial intelligence and machine learning
- Demonstrate knowledge of major trends in Fintech
- Learn to think outside the box
- Critically evaluate new ideas and their implementation
- Recognise opportunities to innovate
General Competences
Search for, analysis and synthesis of data and information, with the use of the necessary technology
Adapting to new situations
Decision-making
Working independently
Team work
Working in an international environment
Working in an interdisciplinary environment
Production of new research ideas
Production of free, creative, and inductive thinking
Course Content
The topics that will be discussed in this course are included in the following sections:
1) What is FinTech today? Major landmarks in FinTech’s history
2) The framework: Opportunities and Restrictions
3) Big Data, Open Data and connectivity
4) KYC platforms
5) Introduction to Automation, Machine Learning and Generative AI. Robo-advising in Finance.
6) P2P lending and crowdfunding
7) Blockchain, cryptocurrencies and Initial coin offerings (ICOs), smart contracts
8) NFTs
9) Open Banking and Payments: AISP, PISP and ASPSP. Integration with mobile devices, smart rings and related technologies
10) Three other -Techs: InsurTech, WealthTech and PropTech
10) Virtual environments. Towards the future
All topics will be discussed with real-world examples.
Student Performance Evaluation
In English or Greek
Multiple choice questionnaires, short-answer questions, open-ended questions.
Bibliography
Suggested Bibliography
Lecture Notes and Slides
FinTech and Machine Learning (in Greek), by A. Kanas. Papazisi edt. (2023)
Fintech and the Future of Finance: Market and Policy Implications, by Erik Feyen, Harish Natarajan, and Matthew Saal, World Bank Group
Related Academic Journals
Blockchain: Research and Applications, Big Data and Society, Financial Innovation