Emerging Technologies in Finance (ETF) – Semester Summary
1. Introduction to Financial Technologies (FinTech)
The course began by exploring the transformative impact of FinTech on traditional financial
services. FinTech integrates technology into offerings by financial services companies to
improve their use and delivery to consumers. You learned about the evolution of FinTech,
from early online banking to AI-driven financial tools and blockchain-enabled services.
2. Key Domains of FinTech
Several FinTech applications were discussed:
- Digital Payments: Including mobile wallets, UPI, NEFT, and IMPS.
- Lending Platforms: Peer-to-peer lending, digital credit scoring using alternative data.
- InsurTech: Use of AI and IoT in underwriting, claims, and customer interaction.
- WealthTech: Robo-advisors and algorithm-based investment tools.
- RegTech: Technology used to meet compliance and regulatory requirements effectively.
3. Blockchain and Cryptocurrencies
Blockchain was highlighted as a decentralized ledger technology revolutionizing how data is
recorded and shared. Key topics included:
- Structure and function of blockchains.
- Types: public, private, and consortium blockchains.
- Cryptocurrencies like Bitcoin and Ethereum.
- Smart contracts – self-executing contracts with coded terms.
4. Artificial Intelligence and Machine Learning in Finance
AI/ML applications in finance were a major component:
- Credit scoring, fraud detection, and algorithmic trading.
- Chatbots and virtual assistants for customer service.
- Personalized financial advice based on user data patterns.
5. Robotic Process Automation (RPA)
You explored how RPA helps financial institutions automate repetitive tasks such as data
entry, reconciliation, and compliance reporting, thereby increasing operational efficiency
and reducing human error.
6. Cybersecurity and Risk Management
As finance becomes more digital, cybersecurity is crucial. Topics included:
- Common threats like phishing, data breaches, and ransomware.
- Risk management frameworks and cybersecurity protocols.
- The role of encryption and secure authentication.
7. RegTech and Compliance
RegTech uses big data analytics and AI to monitor transactions, detect anomalies, and
ensure compliance with regulatory standards efficiently. It's especially useful in KYC/AML
processes.
8. Data Analytics in Finance
You learned about how data is leveraged in:
- Customer behavior analysis.
- Financial forecasting and trend analysis.
- Real-time decision-making using big data technologies.
9. Decentralized Finance (DeFi) and Smart Contracts
DeFi aims to replicate traditional financial instruments in a decentralized architecture. You
examined:
- Lending, borrowing, and trading without intermediaries.
- The use of Ethereum-based smart contracts in DeFi ecosystems.
10. Digital Identity and KYC
New methods of digital identity verification were explored, such as:
- Biometric authentication.
- Blockchain-based ID systems.
- Their integration into customer onboarding and fraud prevention.
11. Cloud Computing in Finance
You explored how cloud services support scalability, data storage, disaster recovery, and
development environments for financial institutions.
12. Future Trends and Challenges
The course concluded with a forward-looking perspective on:
- The ongoing digital transformation of finance.
- Ethical and regulatory challenges in adopting new technologies.
- The importance of lifelong learning to keep pace with innovation.
