Understanding FinTech & Cryptocurrencies
Whilst banks are using technology to improve their services to clients, $4.7 trillion in revenue is at risk of being displaced by new technology-enabled entrants. FinTech is changing rapidly with new sub-sectors emerging all the time, drawing in new names and organisations – taking a customer centric view of financial services. Already, the coffee shop across the street has moved from being a user to a provider of financial services.
- What are you and your organisation doing about this?
- Is your business able to cope with the continuous reduction in fees and revenues whilst expenses for digitalisation rocket?
- How are you innovating your business model to be able togenerate revenue from alternative sources?
This course provides an overview of the current status quo and aims to ask the right questions to adjust to the business model to survive in the future. The first day provides you with a comprehensive overview of the changes in technology. You will discuss how technology enables banks to offer a better service and will identify new challengers disrupting the status quo.
With blockchain and cryptocurrencies on the rise, the second day explains the underlying mechanisms. Firstly, we must understand the basics of cryptography. Then, we must understand the digital ledger technology. In order to understand the workings, we breakdown the digital ledger technology into its hashes and blocks before chaining them together to the block chain. We will also compare Bitcoin to other cryptocurrencies.
AFTER THE COURSE, PARTICIPANTS WILL BE ABLE TO:
- Explain the importance of FinTech
- Learn how big data is changing everything
- Recognise the biggest competitor to the financial industry
- Gauge the regulators’ stance
- Identify areas where FinTech will revolutionise your banking and finance business
- List the threats FinTech poses to the banking and financial industries
- Appreciate the changes required in the banking business model
- Identify existing threats from non-banks
- Explain blockchain, cryptocurrencies and the future of currency
- Explain the possibility of currencies existing without the involvement of a central bank
- Identify the risks and limitations of Digital Ledger Technology (DLT)
- Understand the different cryptocurrencies
- Identify the threats cryptocurrencies pose to central banks
In-depth discussions and practical sessions involving specific transactions
How You Will Learn
You will cover:
Retail banking; Credit assessment; Payments and correspondent banking; Commercial and corporate banking; Trading and investment banking; Corporate finance and M&A; Asset and investment management; Private banking and wealth management; Research and analysis; Insurance (InsurTech); Regulation and compliance (RegTech)
With practical exercises including How FinTech Disrupts Banking and Financial Services; plus testing some of FinTech’s new technologies in a real-life scenario