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Digital technologies are fundamentally transforming the ways in
which organizations create value from business activities,
processes, products, and services. The financial sector is no
exception, actually it is one of the most digitalized industries.
Interestingly, the financial sector was one of the most stable and
conservative industries, but is now facing dramatic changes. This
course focuses on the new digital reality that the financial
industry faces, including the thousands of FinTech startups that
are challenging the stability of the industry, the Internet giants
like Apple, Google, Amazon, and Alibaba that are rushing to claim a
piece of the pie, the new technologies that fundamentally transform
banking processes, and the regulatory changes that force the
industry to open up. All these changes must be understood to ensure
a prosperous and healthy financial sector.
This course will focus on the ways in which digital technologies
are changing the rules of competition in finance. Instead of
competing on scale and fortified business positions, competition is
turning to speed and novelty of digital innovations. Instead of
competing only as individual firms, companies compete in ecosystems
and through digital platforms. So, in this course we cover how
digitalization transforms the rules of competition. We will discuss
the role of FinTech that carries this transformation, and how
companies in the financial service must develop the means to
compete on digital innovation. Furthermore, this course will also
revisit the basics of financial industries, namely money and
payments.
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