EPOKA UNIVERSITY
FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES
DEPARTMENT OF BANKING AND FINANCE
COURSE SYLLABUS
2023-2024 ACADEMIC YEAR
COURSE INFORMATIONCourse Title: INTRODUCTION TO FINTECH |
| Code | Course Type | Regular Semester | Theory | Practice | Lab | Credits | ECTS |
|---|---|---|---|---|---|---|---|
| BAF 202 | B | 4 | 3 | 0 | 0 | 3 | 5 |
| Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature) | Dr. Arben Zibri azibri@epoka.edu.al |
| Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours: | Dr. Arben Zibri azibri@epoka.edu.al |
| Second Course Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours: | NA |
| Language: | English |
| Compulsory/Elective: | Compulsory |
| Study program: (the study for which this course is offered) | Bachelor in Economics (3 years) |
| Classroom and Meeting Time: | Every Wednesday, 17:45-20:30 |
| Teaching Assistant(s) and Office Hours: | NA |
| Code of Ethics: |
Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline" |
| Attendance Requirement: | Mandatory |
| Course Description: | BAF 202 – Introduction to FinTech course gives students the elements of Financial Technology. FinTech is moving financial service industry to a new level. Blockchain, cryptocurrencies (Bitcoin, Ethereum, Dogecoin, etc.), alternative lending techniques, machine learning, Artificial Intelligence, are some of the major topics discussed in this course. The course will develop a broad understanding of these FinTech developments and the impact they have had on the revolutionizing financial industry. This course will also give hands-on and problem-solving experiences that can be useful in FinTech applications and financial innovation. |
| Course Objectives: | The aim of this course is to introduce students to the principles of financial technology, the financial products and the necessary technological infrastructure behind them. The main focus of the course will be on blockchain technology, cryptocurrencies, Bitcoin, Ethereum and Altcoins, smart contracts, P2P lending, crowdfunding, machine learning and robo-advising. Another aspect of the course if the political view of these developments and regulatory framework. |
|
BASIC CONCEPTS OF THE COURSE
|
| 1 | Blockchain |
| 2 | Smart Contracts |
| 3 | Digital Lending |
| 4 | Lending as a Service |
| 5 | Decentralized Finance |
| 6 | Embedded Finance |
|
COURSE OUTLINE
|
| Week | Topics |
| 1 | The Why's of Fintech: This chapter will introduce the students to the first principles of design thinking and its application to financial technology. Students will be introduced to the comparative advantage of financial technology as compared with traditional financial service players. Reading |
| 2 | Fintech Verticals: This subject will introduce the students to the main fintech verticals, such as payments, embedded banking, robo advisors, blockchain, DeFi. During the lecture will be discussed how specializing in a vertical can have multiple comparative advantage with big financial institutions, and why innovation of a big financial institution is a complex exercise. Reading materials include: 1)The FINTECH Book: The Financial Technology Handbook for Investors, Entrepreneurs and Visionaries Chapter 2 (page 19-37) |
| 3 | Embedded Lending - Part 1: This subject will introduce the students on how lending ecosystem is changing from bank branch experience to the use of AI and ML in consuming as less time possible to the borrower in getting a loan approved. Students will have the opportunity to understand how technology and simple user experience has increased the financial literacy and access to lending in developing countries. Reading materials include: 1) Bank 4.0: Banking Everywhere, Never at a Bank - Chapter 3 (page 102-123) 2)The FINTECH Book: The Financial Technology Handbook for Investors, Entrepreneurs and Visionaries Chapter 4 (page 66-85) |
| 4 | Embedded Lending - Part 2: This subject will introduce the students on how lending ecosystem is changing from bank branch experience to the use of AI and ML in consuming as less time possible to the borrower in getting a loan approved. Students will have the opportunity to understand how technology and simple user experience has increased the financial literacy and access to lending in developing countries. Reading materials include: 1) Bank 4.0: Banking Everywhere, Never at a Bank - Chapter 3 (page 102-123) 2)The FINTECH Book: The Financial Technology Handbook for Investors, Entrepreneurs and Visionaries Chapter 4 (page 66-85) |
| 5 | How User Experience is beating traditional channels: The lecture will discuss about the importance of easy access to financial services and what is the impact of that experience to consumer choices, based on real life cases. Reading materials include: 1) Bank 4.0: Banking Everywhere, Never at a Bank - Chapter 4 (page 124-159) 2)The FINTECH Book: The Financial Technology Handbook for Investors, Entrepreneurs and Visionaries Chapter 7 (page 170-194) |
| 6 | Asset Management and Fintech: The lecture will introduce how fintech has facilitated access and increased variety of investments to the individual customers. Moreover, students will understand how transactions and advisory costs for investments have dramatically decreased, based on concrete cases. Reading materials include: 1) The FINTECH Book: The Financial Technology Handbook for Investors, Entrepreneurs and Visionaries Chapter 6 (page 138-168) |
| 7 | Artificial Intelligence, Machine Learning, and Fintech: The subject will be an introduction to the theory of Artificial Intelligence and Machine Learning, and their main uses in the fintech landscape. Reading materials include: 1) Bank 4.0: Banking Everywhere, Never at a Bank Chapter 7 (page 219-250) |
| 8 | Mid Term Exam |
| 9 | Introduction to Decentralized Finance: The lecture will introduce the students with the first initiatives in crypto assets and DeFi, and the main reasons for success. Reading materials include: 1) DeFi and Future of Finance Chapter 1 and 2 (page 4-8) |
| 10 | Blockchain: Part 1: The subject will introduce the students with the technology advantage behind blockchain, smart contracts, crypto assets, and their utility in the financial service ecosystem. Reading materials include: 1) DeFi and Future of Finance Chapter 3 (page 9-14) 2)Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction Chapter 1-3 |
| 11 | Blockchain: Part 2: The subject will introduce the students with the technology advantage behind blockchain, smart contracts, crypto assets, and their utility in the financial service ecosystem. Reading materials include: 1) DeFi and Future of Finance Chapter 3 (page 9-14) 2)Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction Chapter 1-3 |
| 12 | Introduction to DeFi Solution: Part 1: The lecture will describe the uses of blockchain and DeFi in fintech, their main advantages and limitations shown so far. Reading materials include: 1) DeFi and Future of Finance Chapter 4 and 5 (page 14-33) |
| 13 | Introduction to DeFi Solution: Part 2: The lecture will describe the uses of blockchain and DeFi in fintech, their main advantages and limitations shown so far. Reading materials include: 1) DeFi and Future of Finance Chapter 6 (page 34-67) |
| 14 | Project Presentations |
| Prerequisite(s): | Corporate Finance, Investing, Accounting. |
| Textbook(s): | The FINTECH Book: The Financial Technology Handbook for Investors, Entrepreneurs and Visionaries, by Susanne Christi, Janos Barberis, 2016, Wiley. Bank 4.0: Banking Everywhere, Never at a Bank, by Brett King, 2018, Wiley. DeFi and the Future of Finance, by Campbell R. Harvey, Ashwin Ramachandran, Joey Santoro, Fred Ehrsam (Foreword by), Vitalik Buterin (Preface by), 2021, Wiley. |
| Additional Literature: | Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction, by Arvind Narayanan, Joseph Bonneau, Edward Felten, Andrew Miller, Steven Goldfeder, 2016, Princeton University Press. |
| Laboratory Work: | |
| Computer Usage: | |
| Others: | No |
|
COURSE LEARNING OUTCOMES
|
| 1 | Understand recent FinTech developments |
| 2 | Analyze FinTech impact on the financial services industries |
| 3 | Describe the technologies underlying cryptocurrencies |
| 4 | Describe the technologies underlying blockchains |
| 5 | Design smart contracts and decentralized applications |
| 6 | Understand alternative lending and P2P (peer-to-peer) technologies |
| 7 | Understand application of machine learning and FinTech |
|
COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES
(Blank : no contribution, 1: least contribution ... 5: highest contribution) |
| No | Program Competencies | Cont. |
| Bachelor in Economics (3 years) Program | ||
|
COURSE EVALUATION METHOD
|
| Method | Quantity | Percentage |
| Homework |
10
|
1
|
| Midterm Exam(s) |
1
|
25
|
| Project |
1
|
30
|
| Final Exam |
1
|
25
|
| Attendance |
10
|
|
| Total Percent: | 100% |
|
ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)
|
| Activities | Quantity | Duration(Hours) | Total Workload(Hours) |
| Course Duration (Including the exam week: 16x Total course hours) | 16 | 3 | 48 |
| Hours for off-the-classroom study (Pre-study, practice) | 16 | 2 | 32 |
| Mid-terms | 1 | 10 | 10 |
| Assignments | 10 | 0.5 | 5 |
| Final examination | 1 | 10 | 10 |
| Other | 1 | 20 | 20 |
|
Total Work Load:
|
125 | ||
|
Total Work Load/25(h):
|
5 | ||
|
ECTS Credit of the Course:
|
5 | ||
|
CONCLUDING REMARKS BY THE COURSE LECTURER
|
|
Introduction to Fintech is a course that will help students understand the current and future trends (for the next 10 years) in the financial service industry in terms of a) new services, b) new job opportunities, c) new markets, d) actors involved. Moreover, this course will give a solid understanding the BAF students on fintech verticals, embedded lending, impact of technology on investment options, and how Decentralized Finance opened new frontier in terms of better services to the end customer and job opportunities. Guest lectures will help the students understand real cases of fintech platforms and their comparative advantage towards traditional financial service providers. |