Fundamentals of Financial Technology

Course details

Course provider: University Centre Leeds (Luminate Education Group)

Eligibility: You must be aged 19+ (on or before 31^st August 2024) and live in West Yorkshire 

Industry: Financial and Professional Services

Start date: W/c Monday 3rd February 2025

Duration: Cohorts will run over 4 days (9.30am-2.30pm) over a 4-6 week period, with elements of blended learning incorporated

20 hours face to face learning and 5 hours online learning

Venue: University Centre Leeds

Course overview

This introductory course is designed for professionals in the finance or technology sectors who want to upskill and understand the key innovations driving the FinTech industry, as well as individuals from other industries seeking to transition into FinTech. Through a blend of foundational theory and hands-on activities, participants will explore how technologies like blockchain, artificial intelligence, and digital payments are transforming financial services. By the end of the course, learners will be equipped to apply FinTech knowledge in various roles and departments across finance and technology organizations.

Course Structure:

1. Module 1: Introduction to FinTech (2 hours face-to-face, 0.5 hour online)

Key Topics:

• Evolution of FinTech: From traditional finance to digital disruption
• Overview of the FinTech ecosystem (Start-ups, incumbents, tech companies)
• Importance of FinTech in the modern financial system
• Global trends and drivers of FinTech innovation

Online Component:

• Video lecture: “FinTech History and Key Milestones.”

2. Module 2: Digital Payments and Banking (4 hours face-to-face, 1 hour online)

Key Topics:

• Overview of digital payments and online banking services (Apple Pay, Google Pay, PayPal)
• Understanding cryptocurrencies, digital wallets, and their use in real-world transactions
• The impact of digital banking on unbanked populations

Practical Elements:

• Simulation Activity: Participants explore a sandbox environment to simulate a digital payment transaction using an easy-to-use API (Stripe or PayPal). No coding experience required—focus on understanding how payments are processed.
• Case Study: Analyze a successful digital banking or mobile payments platform (e.g., Alipay or Venmo) to see how it addresses specific financial needs.

Online Component:

• Interactive simulation: "Managing Transactions with Digital Payment Platforms."

Why This Works: This module provides a hands-on introduction to payments without delving into coding, making it accessible while still emphasizing practical skills.

3. Module 3: Blockchain and Cryptocurrencies (3 hours face-to-face, 0.5 hour online)

Key Topics:

• Fundamentals of blockchain technology and why it matters in FinTech
• Cryptocurrencies: Overview of Bitcoin, Ethereum, and stablecoins
• Introduction to DeFi (Decentralized Finance)

Practical Elements:

• Demo and Walkthrough: Participants watch a guided setup of a cryptocurrency wallet and simulate a basic crypto transaction using testnet coins.
• Group Discussion: Participants brainstorm potential applications of blockchain in their existing roles or future career pathways (e.g., improving transaction transparency, reducing fraud).

Online Component:

• Reading Assignment: “Blockchain for Finance: What You Need to Know.”

Why This Works: By focusing on guided demos and real-world applications, this module introduces the technology without requiring deep technical expertise.

4. Module 4: Artificial Intelligence (AI) and Machine Learning in Finance (3 hours face-to-face, 0.5 hour online)

Key Topics:

• Practical uses of AI in finance: Fraud detection, credit scoring, robo-advisors
• Predictive analytics and how it is used to enhance customer experience

Practical Elements:

• AI Tool Demo: Participants work with an AI-driven tool or a simple online platform (such as Google's AutoML) to simulate predictive models for customer profiling or fraud detection. No coding required, the focus is on understanding outputs and decision-making.
• Case Study: Participants analyze a robo-advisor platform and discuss how AI personalizes financial advice.

 
Online Component:

• AI simulation: Use a pre-built model to evaluate customer risk profiles and make financial recommendations.

Why This Works: This module provides a hands-on AI experience without the need for programming skills, making it relevant and accessible for upskilling professionals.

5. Module 5: RegTech (Regulatory Technology) and Cybersecurity (3 hours face-to-face, 0.5 hour online)

Key Topics:

• Overview of RegTech: Automation in regulatory compliance (AML/KYC)
• FinTech’s role in preventing fraud and enhancing cybersecurity
•  Cybersecurity best practices and common threats to FinTech platforms
  Practical Elements:
• Lab Activity: Participants explore an easy-to-use RegTech platform to see how automated KYC and AML checks are performed in real-time.
• Cybersecurity Demo: Overview of a typical cybersecurity threat (e.g., phishing attacks) and how FinTech companies mitigate it.

Online Component: 

• Quiz on cybersecurity best practices for the FinTech environment.

Why This Works: Hands-on, easy-to-use tools make RegTech and cybersecurity accessible for non-technical professionals, helping them understand practical compliance and risk management in their roles.

6. Module 6: WealthTech and InsurTech (3 hours face-to-face, 1 hour online)

Key Topics:

• WealthTech overview: Robo-advisors, investment apps, and big data
• InsurTech innovations and their impact on risk management and underwriting
• Behavioral finance: How technology personalizes wealth management and insurance products

Practical Elements:

• Activity: Participants use an online robo-advisor tool (such as Wealthfront or a demo version) to create an investment portfolio and simulate decision-making based on AI-driven insights.
• Case Study: Discuss how InsurTech platforms like Lemonade use AI to underwrite insurance and improve the customer experience.

Online Component:

• Expert panel discussion: Insights into the future of WealthTech and InsurTech from industry leaders.

Why This Works: The focus is on familiar financial concepts like investments and insurance, using approachable tools to show how technology is changing these fields.

7. Module 7: Future of FinTech and Career Opportunities (2 hours face-to-face)

Key Topics:

• Emerging trends in FinTech: AI, quantum computing, green FinTech
• Challenges and opportunities in FinTech start-ups
• Skills and careers in FinTech: What employers are looking for

Discussion and Wrap-Up:

• Career pathways and resources for further learning

Assessment and Certification:

Final Project (optional):

Participants create a practical proposal for implementing a FinTech solution in their current role or industry (e.g., a digital payment system, blockchain for supply chain transparency). This will allow them to demonstrate their ability to apply what they've learned in a real-world context.

Certification:

Participants who complete all modules and the final project will receive a **Certificate in Introduction to Financial Technology**

 Learning Outcomes:

By the end of this course, participants will:

• Understand the core technologies driving the FinTech industry.
• Explore real-world applications of AI, blockchain, and digital payments in finance.
• Evaluate the cybersecurity and regulatory challenges FinTech companies face.
• Gain insights into how WealthTech and InsurTech are transforming financial planning and risk management.
• Identify career opportunities and pathways to upskill in FinTech.

Why This Approach Works:

This course structure ensures that the content is approachable for both non-technical professionals and individuals transitioning from other industries, with hands-on activities tailored to their skill level. The practical components use low-code or no-code tools where possible, making complex technologies like AI and blockchain more accessible.

What next?

Progression from this course could lead to the following employment opportunities:

• Fintech Technical Analyst
• Data scientist
• Research Analyst
• Software Developer
• Database architect
• Data visualizer
• Machine learning expert
• System administrator