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Upon completion of this course, the student is able to:
- Explain the key financial services and the structure of the industry and the impact of digital transformation
- Assess the concept of agility and resilience, both organizational and ICT
- Classify information systems in the financial industry
- Develop and assess business models for financial service providers using business modelling frameworks
- Describe the key elements of payment systems and the role of internet-based providers of (mobile) payment systems
- Understand how information systems are both a core asset and legacy and how they can drive/hinder innovation
- Understand how business processes are key to financial service delivery
- Design and understand the current architectures (service, process, applications, infrastructure) of financial services
- Understand how information systems can be governed and controlled within a financial institution
- Bridge the theory-practice gaps of information systems for the financial industry
- Have knowledge of financial industry standards (XBRL, LEI,…) and their impact on the business
- Assess the role of Artificial Intelligence, Robotics Process Automation and Data Science in practical labs
- Describe various recent ICT trends (security, mobile, virtual/cryptocurrencies and blockchain …) and their impact on the industry
- Explore academic and industry reports on ICT trends and opportunities for service innovation and combine these with a small empirical research to deliver an academic paper on the topic
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The objective of this course is to provide students with the knowledge and ability to understand the role of ICT and information systems on the financial services industry. The students will learn that information systems are both a core infrastructure for service delivery (e.g. payment and investment services) as well as a driver for change and an enabler for competitive service delivery (e.g. mobile services, online banking, smart contracts, service-mass customization). The course gives students an opportunity to examine the state of art applications and the impact of IT on the business strategy. Students will get both a theoretical and practical understanding of the field through research papers, industry reports, lectures and guest lecturers from financial services practitioners. Through a group assignment, students explore a current topic in depth (e.g. blockchain, algorithmic trading, supply chain finance, privacy and security in online-financial services).
The financial industry shows a dynamic interplay among various parties (retail and investment banks, insurance companies, brokerage firms, mutual funds provider, financial markets etc). Information technology is of vital interest to the financial industry, because the sector is information-driven and therefore spends more on IT than other sectors.
The course deals with topics as: Emerging IT Architectures to support Business Processes within the E-Finance Industry, Cloud computing for financial services, Blockchain and virtual currencies, Mass customization of financial services, Governance of ICT in financial institutions, Credit Process of the Future, Financial Value Chain and Outsourcing, Crowd Funding, Online Banking and Insurance Strategies, Business Intelligence for relationship banking, IT Support for Financial Advice, P2P Loans (e.g. Zopa.com, Prosper.com), Payment Processing, Cash Alternatives, Mobile-payment, Securities Markets, IT systems for Stock Exchanges (e.g. NYSE Trading Systems, The NASDAQ Market), Trends in European clearing and settlement industry, Online Trading & Brokerage, e-Insurance (e.g. Insurance Process, Claim Handling), Privacy and security, Regulatory compliance (e.g. Sarbanes-Oxley and the role of the SEC, Basel II, MiFID).
Active participation in class by discussing cases, papers and inviting guest lectures from the industry and by supplying cases to teach the students to bridge the theory-practice gaps of information systems for the financial industry.
Organization (Block of 4x 45 min each week). Detailed schedule will be made available first lecture, but sessions usually consists of:
1. Lecture
2. Case Study Discussion
3. Guest Speaker
4. Student Project presentations and progress report
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The assessment of this course consists of 3 parts, which are individual assignments (15%), group assignments(35%) and individual written exam (50%).
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| Master Industrial Engineering and Management |
| Master Business Information Technology |
| Master Business Administration |
| | Required materialsCourse material| Paper will be made available through Canvas |
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Recommended materials-Instructional modesLAB session| Presence duty | | Yes |
| Lecture| Presence duty | | Yes |
| Self study without assistance
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TestsExam & (group) assignment(s)
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