This course covers recent technological innovations and the emergence of new players in the financial services industry that both fall under the umbrella term of FinTech. A special focus will be on blockchains and other relevant technologies and their application to decentralized finance, cryptocurrencies, and smart contracts. Other introduced innovations include alternative payment systems, crowd finance, InsurTech, and robo advising, while also presenting associated risks and regulatory approaches.
After the completion of this course, students will have gained a thorough understanding of the FinTech industry. They will be able to describe its underlying technologies, analyze the industry’s recent developments, recognize associated risks, and explain its impact on the more traditional financial services industry.
Basic knowledge of finance (e.g. present value methods, portfolio theory, equilibrium models, derivatives, trading, banking), mathematics (analysis, optimization) and statistics (e.g. mean, variance, correlation, and multivariate regression).
|Forms of teaching and learning||Contact hours||Independent study time|
|Lecture||2 SWS||9 SWS|
|Form of assessment||Written exam (60 min)|
Dr. Stefan Scharnowski
Dr. Stefan Scharnowski
|Frequency of offering||Fall semester|
|Duration of module||1 semester|
|Range of application||M.Sc. MMM, M.Sc. WiPäd, M.Sc. VWL, M.Sc. Wirt. Inf., M.Sc. Wirt. Math.|
|Preliminary course work||–|
|Program-specific Competency Goals||CG 1|
|Literature||A detailed reading list will be provided at the beginning of the course.|
Das, S. R. (2019). The future of fintech. Financial Management, 48(4), 981-1007.
Thakor, A. V. (2020). Fintech and banking: What do we know?. Journal of Financial Intermediation, 41, 100833.
Philippon, T. (2016). The fintech opportunity (No. w22476). National Bureau of Economic Research.
Special Issue of the Review of Financial Studies: To FinTech and Beyond. Volume 32, Issue 5, May 2019
Satoshi Nakamoto (2008). Bitcoin: A Peer-to-Peer Electronic Cash System. Whitepaper.
|Course outline||A detailed syllabus will be provided at the beginning of the course.|
What even is FinTech?
The Tech in FinTech
Blockchains and Cryptocurrencies
Payments, Banking, and Investing
Crowd Finance and Social Trading
RegTech and Regulating FinTech