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This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Plans & Membership

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Expert led content

+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

Engage with our video hotspots and knowledge check-ins

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Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Finance Unlocked to your current platform

Featured Content

More featured content

Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Introduction to Fintech

Introduction to Fintech

Nir Vulkan

25 years: Financial technology & algo trading

Nir explains the origin of Fintech as a regulation aid and outlines some example applications in risk management.

Nir explains the origin of Fintech as a regulation aid and outlines some example applications in risk management.

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Introduction to Fintech

9 mins 34 secs

Key learning objectives:

  • Define Fintech

  • Explain how the Government encourages innovation and its benefits.

  • Discuss the ways in which Fintech is used to reduce risk and uncertainty.

Overview:

Fintech is an emerging industry that utilises new technology to provide more efficient financial and banking services. This includes the aiding of start-up businesses. Ultimately inviting a whole new wealth of innovation into the economy.

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Summary

What is Fintech?

Fintech is financial technology. It is the development of technology and innovation that strives to compete with traditional financial techniques in the delivery of its financial services.

How does the Government encourage innovation?

The Government instructs the Financial Conduct Authority to induce innovation. The FCA hence attempts to make the city more competitive by working with start-up businesses through their ‘Sandbox’ scheme. Small start-ups are assigned a regulator that:

  • Addresses regulatory issues
  • Creates new products
  • Creates new services

By doing so, consumers benefit in the long-run due to greater choice and higher quality of products/services. This increase in competitiveness therefore benefits the economy overall.

How can Fintech be used to offset risk and uncertainty?

During financial transactions, generally one party is subject to greater material knowledge than the other, creating an asymmetry of information. This is evident in the example above as the investments made into start-ups may not work out well. Hence, there is a certain risk and uncertainty associated. Fintech aims to tackle these hurdles. Examples include:

  1. Trip Advisor – Dramatically changed the way the travel industry, hotels and restaurants operate. Users can share information with each other digitally when comparing and critiquing certain places. Businesses are forced to be efficient as they know bad reviews will be posted deterring future business, which can be damaging
  2. Prodigy Finance – Provide loans to post-graduate students to study at a higher level. These people would generally be rejected a loan due to their absent credit scores. However, Prodigy Finance realised they are most willing to pay back and generally have successful careers in the future, mitigating that potential risk of defaulting on loans.

The same case can be made for young drivers. However, with the introduction of ‘The Box’ which records speed and driving decisions, it creates certainty on behalf of the insurance company.

What are some examples of Fintech?

Prop-tech is a subset of Fintech and is tailored to the real-estate market. It uses information technology to guide individuals and companies with their research, buying, selling and management of real-estate.

Similarly, Insurtech focuses on the Insurance Industry and is a trillion-dollar industry. Both boost the economy. In 2018 alone, there was over a hundred billion dollars invested globally in Fintech, a lot of it in China and in the US.

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Nir Vulkan

Nir Vulkan

Nir is a professor at Oxford Saïd Business School and the University of Oxford. In addition to being a full time academic, Nir works with world-leading hedge funds and develops algorithmic trading models.

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