FinTech Developments

Name: FinTech Developments
Author: Xi Bai

Find out how FinTech relates to financial institutions.

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Course: On-Demand

(upbeat music) Welcome to FinTech Developments. In these lessons, you'll learn about the financial businesses that are related to FinTech, such as banking, investing and advising. We'll also address FinTech partnerships, its role in investing and financial advising and the role artificial intelligence plays in FinTech. There are two mainstream views on the relationship between FinTech and the current banking industry. One suggests that FinTech is going to bring serious, new competition to the banking industry. The other view says that FinTech will share mutual benefits with the current banking industry. So what do both of these mean? Since FinTech started to surface in the last decade, it has changed the rules of the traditional banking industry. Many new startups equipped with FinTech, took customers away by offering better user experiences with personal loans, small business loans, digital payments and even wealth management. Compared with what's available from the banks, the new services are more customizable, more productive and more cost efficient. The adoption of FinTech within the banking industry also calls for resource reallocation. Today, you can manage most of your personal financial activities by using a banking app. Even if you want to physically visit your bank location, the automated self service machines that are linked with the bank's central database will perform tasks for you, whether you need to cash a check or check your mortgage balance. This is just a small reflection of how FinTech has changed banking. At the same time, we can also see the future of collaboration between FinTech and banking. Since the 2008 recession, many banks have fixed problems such as low profit margins, negative feedback from customers, reduced loyalty from existing clients and climbing operation budgets. The utilization of FinTech could provide groundbreaking opportunities as the solutions are big data-driven, mobile attached and more inclusive to external industry resources. For example, in 2020, HSBC worked with a global supply chain finance company, called Tradeshift. During this collaboration, HSBC used Tradeshift's system to automate and accelerate supplier invoice payments, allow buyers and suppliers to collaborate in real time and to make the payment cycle more transparent. This is just one instance of how FinTech can transform how finance operates.

Intermediate Provider : Xi Bai 5 Lessons · 13m in Arabic, German, English, Spanish, French, Portuguese, Chinese

Course Description

Adopting FinTech can play a large part in an organization’s success and marketability, especially regarding digitalization. In this course, you’ll learn how FinTech and banking coexist and how they affect one another. You’ll also explore how the finance industry has adapted to embrace new technologies, such as artificial intelligence and cloud computing, to more efficiently achieve goals.

What You'll Learn

Discover the relationship between FinTech and banking
Apply artificial intelligence within finance contexts
Explore practical applications of FinTech in today's world
Examine FinTech partnerships and collaborations
Understand FinTech's role in investing and financial advising
Learn how to support future FinTech development

Key Takeaways

Adopting FinTech can play a large part in an organization's success and marketability, especially regarding digitalization.
FinTech and banking coexist and affect one another.
The finance industry has adapted to embrace new technologies such as artificial intelligence and cloud computing to more efficiently achieve goals.
FinTech has practical applications across investing and financial advising.

Frequently Asked Questions

What does this FinTech Developments course cover?

The course covers the relationship between FinTech and banking, FinTech partnerships and collaborations, FinTech in investing and financial advising, and how FinTech relates to artificial intelligence and cloud computing.

What will I be able to do after completing this course?

You'll be able to discover the relationship between FinTech and banking, apply artificial intelligence, recognize practical applications of FinTech in today's world, and support future FinTech development.

Why is adopting FinTech important for an organization?

Adopting FinTech can play a large part in an organization's success and marketability, especially regarding digitalization.

What skills does this course help build?

This course supports skills including adaptability, collaboration, and critical thinking.

How is the course structured?

The course includes lessons on FinTech and Banking; FinTech Partnerships and Collaborations; FinTech, Investing, and Financial Advising; FinTech, Artificial Intelligence, and Cloud Computing; and a Test Your Knowledge section.