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On the Educational Curriculum in Finance and Technology

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Internet Science (INSCI 2017)

Part of the book series: Lecture Notes in Computer Science ((LNISA,volume 10750))

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Abstract

Recent technological developments have enabled a wide array of new applications in financial markets, e.g. big data, cloud computing, artificial intelligence, blockchain, cryptocurrencies, peer-to-peer lending, crowdfunding, and robo-advising, inter alia. While traditionally comprising of computer programs and other technology used to support or enable banking and financial services, the new fintech sector is often seen as enabling transformation of the financial industry. A more moderate and critical view suggests that for the full transformative potential of fintech to be enabled, there is a need for an updated educational curriculum that balances knowledge and understanding of finance and technology. A curriculum that provides a skill portfolio in the two core components and complements them with applied knowledge can support the enabling forces which will render fintech as a true opportunity for the financial service industry and for society as a whole. We attempt a scholarship inquiry into the educational curriculum in finance and technology, aiming to inform this modern educational agenda. We review skills shortages, as identified by firms and experts, and examine the state-of-the art by some of the first educational programs in fintech.

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Notes

  1. 1.

    Following this approach in building occupation-specific skill-weights for Germany, [19] show that occupation-specific skill portfolios entail higher net costs of apprenticeship training and small occupational change probabilities.

  2. 2.

    Crowdfunding leverages on the internet in reaching out to a larger group of interested parties and enabling them to participate in a new venture with smaller sums of money, either as investors or as early buyers. This funds-pooling technology is mostly used as a new business model, but also for charitable purposes. Moreover, peer-to-peer lending platforms lend to businesses but also to households that require consumer credit or mortgages. These are a new form of intermediary, catering to borrowers over the internet, using algorithms for matching borrowers and lenders, along with associated risk-return profiles.

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Acknowledgements

Panos gratefully acknowledges funding from the PROFIT project. Project PROFIT has received funding from the European Union’s Horizon 2020 Framework Programme for Research and Innovation under grant agreement no. 687895. Bracciali based his contribution to the paper upon work from COST Action IC1406 cHiPSET, supported by COST (European Cooperation in Science and Technology). All authors have benefited from participation and knowledge exchange taking place as part of the Scottish Business School Forum.

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Authors and Affiliations

  1. Adam Smith Business School, University of Glasgow, Glasgow, Scotland, UK

    Tatja Karkkainen & Georgios A. Panos

  2. Business School, University of Strathclyde, Glasgow, Scotland, UK

    Daniel Broby

  3. Computing Sciences and Mathematics, University of Stirling, Stirling, Scotland, UK

    Andrea Bracciali

Authors
  1. Tatja Karkkainen
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  2. Georgios A. Panos
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  3. Daniel Broby
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  4. Andrea Bracciali
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Corresponding author

Correspondence to Georgios A. Panos .

Editor information

Editors and Affiliations

  1. Information Technologies Institute, Thessaloniki, Greece

    Sotiris Diplaris

  2. Information Technologies Institute, Thessaloniki, Greece

    Anna Satsiou

  3. SINTEF, Oslo, Norway

    Asbjørn Følstad

  4. National Center for Scientific Research, Agia Paraskevi, Greece

    Michail Vafopoulos

  5. SINTEF, Trondheim, Norway

    Thomas Vilarinho

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Karkkainen, T., Panos, G.A., Broby, D., Bracciali, A. (2018). On the Educational Curriculum in Finance and Technology. In: Diplaris, S., Satsiou, A., Følstad, A., Vafopoulos, M., Vilarinho, T. (eds) Internet Science. INSCI 2017. Lecture Notes in Computer Science(), vol 10750. Springer, Cham. https://doi.org/10.1007/978-3-319-77547-0_1

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  • DOI: https://doi.org/10.1007/978-3-319-77547-0_1

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  • Publisher Name: Springer, Cham

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  • Online ISBN: 978-3-319-77547-0

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