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The Future of Finance: Digital Transformation and Open Finance

Why should you enrol in this programme?

The growing fintech movement is transforming the financial industry–from disrupting conventional models to generating new revenue streams. It is creating unparalleled opportunities to drive digital innovation and transform financial services. To tap into fintech and power growth in the future, finance professionals must stay ahead of the fast-moving technologies, regulations and innovations shaping the movement.

If you are looking to embrace fintech to build innovative strategies and solutions that address your business challenges, then this programme is for you. It offers insights into key fintech concepts such as open finance, new business models in banking, the economics of payments, and data as a key resource in forging the digital identity of financial systems.

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53 According to PWC’s Global Fintech Report 2019, 53% of multinational and large corporations have fully embedded fintech across strategic operating models.

SOURCE: RESEARCH AND MARKETS DEC 2020

5504 The global fintech market was valued at USD 5504.13 billion in 2019 and is expected to grow at a CAGR of 23.58% from 2021 to 2025.

SOURCE: RESEARCH AND MARKETS DEC 2020

Key information

In this programme, you will delve into the fintech industry and analyse the latest trends and developments. You will also examine the implications of regulations, and evaluate approaches to ecosystems, monetisation and governance.

This programme will also help you assess the deployment of disruptive technologies such as blockchain, understand the role and functionalities of payment systems and infrastructure, and develop a digital transformation framework.

  • Identify the impact of fintech on the competitive dynamics in the financial services industry
  • Examine the effects of financial regulations on the use of technology and business models in finance
  • Evaluate the economics and strategy of platform business models in banking
  • Gauge the strategic role of data in the financial sector
  • Explore the evolving nature of money and relevance to payments innovation
  • Apply economic and strategic thinking for fintech innovation in order to design a digital finance solution for your business

Duration: 7 weeks, online. 4-6 hours/week

Next intake: October 2022

Fee: £1,480*

*If you are a University of Manchester alumni or have attended an executive education course at Alliance Manchester Business School, you qualify for a 10% discount. Please contact AMBSopen@manchester.ac.uk before booking your place.

Programme topics

You will learn through a combination of discussions, polls, interactive activities, try-it exercises, and a final project/capstone assignment at the end of the programme.

Module 1: Fintech (r)evolution and technological disruption in financial services
Learn about the forces of change in the financial industry and gain insights on management and innovation theories around disruption. Explore case studies on SWIFT and London Stock Exchange along with fintech taxonomy and definitions, starting with the difference between digitisation vs digitalisation.

Module 2 : Regulation and competition in finance
Examine the impact of regulation on business operations and competition. Explore data sharing and open finance regulatory approaches. Discuss open banking regulations, myths, and recommendations.

Module 3: New business models in banking
Learn about the role of information in financial intermediation and market transformation. Explore data openness and the API economy in banking. Understand concepts in Banking as a Service (BaaS) and embedded finance, financial APIs and data aggregators.

Module 4: Platform strategy in banking & finance
Learn about economic principles, strategies for digital platforms, network externalities, and the strategic value of data in finance. Delve into Banking as a Platform (BaaP) business models and the entry of bigtech and techfin in finance.

Module 5: Payments innovation and the future of money
Understand the key principles of payment systems and financial telecommunication networks. Learn about financial messaging and payment data standards. Discuss geopolitical frictions and the changing world-order in payments. Gain a deeper understanding of digital money, cryptocurrencies, and CBDCs.

Module 6: Pillars of digital transformation in financial services
Understand digital ecosystems and mastering the data economy in finance. Delve into the need for digital ambidexterity, personalisation, and selling experiences in banking. Learn more about the integral role that data plays in green finance and ESG investing. Visualise the bank of the future.

Who should attend

This online programme is developed for mid-level to senior finance professionals, executives, senior management officials, consultants, entrepreneurs, regulators and compliance professionals.

As fintech advances across sectors, the topics covered in this programme could be advantageous to anyone with a background in finance or technology. However, the programme will be particularly useful for professionals from fintech start-ups, banking, financial institutions and fintech advisory firms.

Roles that would be well suited to this programme include:

  • Chief Executive Officer
  • Chief Financial Officer
  • Compliance & Risk Manager
  • Economist
  • Finance Manager
  • Financial/Credit Analyst
  • Fintech Consultant
  • Founder/Managing Partner
  • Fund/Asset Manager
  • Investment Strategists
  • Management Accountant
  • Strategic Advisor
  • VP Audit & Compliance

Course lead

Markos Zachariadis

Markos Zachariadis
Professor Markos Zachariadis holds the Chair of Financial Technology (Fintech) and is Professor of Information Systems at Alliance Manchester Business School, The University of Manchester.

He is a member of the World Economic Forum’s Global Future Council on Responsive Financial Systems and a Chief Fintech Advisor to the President of the Hellenic Competition Commission, Greece’s competition and markets authority. Read more >>

Certificate

Upon successful completion of the online programme, participants will receive a verified digital certificate of participation from Alliance Manchester Business School, The University of Manchester.

Note: Your digital certificate will be issued in your legal name and emailed to you at no additional cost, upon completion of the programme, per the stipulated requirements. All certificate images are for illustrative purposes only and may be subject to change at the discretion of Alliance Manchester Business School.

In addition to a certificate, participants who successfully complete the programme will also receive a digital badge via email from Accredible, which can be displayed on LinkedIn profiles and represents completion and participation in the programme.

The Future of Finance sample certificate