Technology is playing an increasingly dominant role in the financial service industry. It is changing how existing players operate and it is creating new ways to deliver core services like saving, investing, borrowing, and transacting. The course provides an overview of the most significant technological advances that are radically changing the industry, focusing on AI and Blockchain. We will analyze how these technologies create value in the financial industry by lowering frictions — from unit processing cost, through asymmetric information and network effects. The course will integrate a high-level discussion of the competitive landscape and the market opportunities for new entrants, with an in-depth understanding of the technologies and their applications. We will do so by focusing on three areas in which these technologies are driving change: (I) Lending, (II) Clearing (III) Trading. In each of these areas, we will cover examples and developments from (1) marketplace lending, (2) blockchain and distributed ledgers, (3) quantitative trading and its use of non-standard data and analytics. In each of these areas, we start by analyzing the marketplace, the incumbents, and the strategies of the incoming technology-based new entrants. We then proceed to understand the relevant technological applications in each area using real-world data.

Temps présentiel : 25 heures

Charge de travail étudiant : 50 heures

Méthode(s) d'évaluation : Examen final, Projets