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Imperial College Business School

Fintech - Innovative Banking

Future of Fintech talk - Andrei Kirilenko
Oct 31—Nov 1, 2019
2 days
London, United Kingdom
GBP 2950 ≈USD 3781
GBP 1475 per day
Jun 1—2, 2020
2 days
London, United Kingdom
GBP 2950 ≈USD 3781
GBP 1475 per day

How it works

Disclaimer

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Description

Fintech can be defined as the application of digital technologies to create, record, transfer and manage financial value and risk. In this course we will focus on three areas of fintech that are of particular interest to bankers.

The first area of focus is the distributed ledger technology also knows as blockchain. Did you know that blockchain itself combines digital technologies that originated in cryptography and computer science? We will play with these technologies to get a hands-on understanding of how blockchain training might be useful for bankers.

The second area of focus is digital identity. Did you ever think that in the future banks may be in the business of guarding the digital identities of their customers? This Fintech course will delve into the attributes of digital identity and see what the future might hold.

The third area is digital money and digital payments. You probably have read about the central banks and regulators around the world preparing the groundwork for the issuance of digital currencies. You may have also read about bitcoin mining, digital tokens and smart contracts. We will discuss how various technologies are changing what is considered valuable in the digital space and what regulators might support.

Benefits

  • Develop a hands-on understanding of fintech for bankers
  • Gain insights into technologies that are changing how banking is done
  • Learn how to prepare yourself for the changes that are underway

Programme content

Day 1

Welcome to the programme

Introduction to FinTech

This session will provide an overview of the changing FinTech ecosystem with a special focus on how FinTech affects the banking industry. To understand the disruption in banking one first needs to understand the main pillars of banks. What is the origin of banking? What has led to the current form of banks? Thus, understanding the strengths and weakness of banks can help us isolate the areas where one could see disruption. We will start the session by studying banks in their traditional form and then move on to FinTech where we will examine new business models and their potential to change the intermediation landscape.

FinTech, TechFin and BigTech – what’s the difference?

In this session we will examine nonbanks as it is difficult to separate purely FinTech firms vs nonbank firms such as Amazon which are increasingly acting as credit intermediaries. We will also explore the differences between FinTech, TechFin and BigTech.

Lunch

Alternative Finance

Helene Panzarino with Tom Smith, Crowdcube and Alex Fenton, Gap Cap In the age of the Internet and social networking, banks have lost their monopoly on finance. A growing number of Crowdfunding operators, P2P lenders and investment-based platforms allow businesses and consumers to access capital on favourable terms, and with much less red tape. However, as the alternative finance industry matures, existing operators have been arguing for greater regulatory oversight to act as a barrier to entry for new platforms. What does the future hold?

Digital Banks

Helene Panzarino, author with Julian Sawyer, Starling Bank Today, there is a growing trend towards digital banks, in this module we talk about the strengths of the digital banks and how they differ from the normal banks. Also, we explore the challenges normal banks face in their digital transition

Programme drinks reception

Day 2

Finance and Machine Learning

Marcin Kacperczyk, Imperial College Business School This session introduces the main approaches to finance based on machine learning techniques. I will argue that machine learning revolves around the problem of prediction, while many economic applications revolve around parameter estimation. Thus, a crucial element in successfully applying machine learning to finance requires finding relevant tasks. At the same time, the machine learning algorithms can be applied naively or their output can be misinterpreted. The class aims to make them conceptually easier to use by providing a crisper understanding of how these algorithms work, where they succeed, and where they can fail—and thus where they can be most usefully applied.

Finance and Machine Learning (continued)

Marcin Kacperczyk

Lunch

Blockchain

Garrick Hileman, Blockchain.com

A blockchain is usually described as a distributed ledger – a database of records shared by all clients that have access to it. This description is not incorrect, but it leaves a lot to be desired. It’s like calling a car a “horseless carriage” or a handheld personal computer a “smartphone.” A blockchain is really a computer – a finite-state machine. Currently, it is not a very good computer. It is very slow, it is not exact, and it is also very expensive. But, it is a truly global computer that does not reside in any particular physical or virtual machine. And, very importantly, it allows anonymous users to share their private computing power and memory capacity for a fee. With the hindsight knowledge of how fundamentally computers have changed the world, we can ask: Does blockchain have the potential to fundamentally change the financial services industry?

Walk to the Data Observatory

BitCoin demonstration at the Data Observatory

Philip Nadler, Imperial College London The KPMG Data Observatory (DO), the largest of its kind in Europe, features an enveloping circular wall of 64 monitors powered by 32 computers facilitating 313 degrees of surround vision. Opened in November 2015, The DO provides an opportunity for academics and industry to visualise data in a way that uncovers new insights, and promotes the communication of complex data sets and analysis in an immersive and multi-dimensional environment. Designed, built by, and housed within the Data Science Institute, the DO will enable decision makers to derive new implications and actions from interrogating data sets in an innovative, unique environment.

Who should attend

The following roles within global banking, retail banking, building societies, management consultancies, professional services and asset management:

  • Managers who need to prepare for disruptive innovations and challenges coming out of the fintech ecosystem
  • Managers and project directors who need to better understand areas of fintech relevant to their line of work
  • Heads of strategy and innovation

Experts

Summary Private Website
As both an independent business consultant working on a one-to-one basis and as part of a team on larger access to finance programmes, workshops and seminars, Helene has worked with both start-up and high growth small and medium sized businesses. She has worked extensively with intermediaries, ad...
Julian Hall is COO of Essentia Analytics and an NxD at Green 4 Solutions. Prior to Essentia he spent 10 years managing development and testing teams at Simcorp, one of the investment management industry’s leading fintech vendors. He holds an MBA with distinction from London Business School and an...
Deeph has extensive experience of working on world leading STEM in academia, industry and government. He is Professor of Practice within Imperial's Business School, Deputy Director of the Institute for Security Science Technology and is co-founder of the UK-Goverment funded Research Institute in ...
José-Luis Peydró is ICREA Professor of Economics at UPF, Barcelona GSE Research Professor, CREI Research Associate, Professor of Finance at Imperial College London, and CEPR Research Fellow. His research on Banking and Systemic Risk has been published in the top journals in Economics and Finance...

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Next dates

Oct 31—Nov 1, 2019
2 days
London, United Kingdom
GBP 2950 ≈USD 3781
GBP 1475 per day
Jun 1—2, 2020
2 days
London, United Kingdom
GBP 2950 ≈USD 3781
GBP 1475 per day

How it works

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