Rhedir gan Bangor Business School
15.000 Credyd neu 7.500 Credyd ECTS
Trefnydd: Prof Bernardo Batiz-Lazo
The term financial innovation (FinTech) has been coined to bring together a loose and broad number of innovations and technological start up companies which aim to redefine retail finance.
This module aims to provide firm conceptual and empirical foundations for participants. This by going the hype and common misconceptions (such as the importance of first movers, "presentism" or "disruptive" technologies) to provide participants with firm conceptual underpinnings from which to consider financial innovation in a long-term perspective. The module also aims to provide a broad overview of current developments and issues around financial technology in wholesale and retail finance. This module thus covers a broad range of topics around the drivers of innovation, financial technology and start ups in banking (with an emphasis on retail banking). Topics will include the people and institutions which create and disseminate this knowledge.
The module will be quite demanding in terms of weekly reading as preparation for lectures, teaching case studies, course work and exam.
This module will look at the long-term perspective to the technological change in retail banking. It will start by introducing alternative theories to innovation (e.g. Schumpeter, Diffusion of Innovation, Disruptive Innovation) and their critique. This will be followed by a discussion on the economics of technological innovation (e.g. industrial networks, path dependence, two sided markets) and alternative approaches (e.g. ethnographic and sociological approaches to financial innovation; Critical studies and the labour problem). The module will also look at current trends in financial technologies such as financialization, Cashless Society, Mobile Payments, Blockchain & ledger technology, Computer trading, Omnichanel, Crowdsourcing.
C- i C+
Satisfactory standard (C- to C+): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.
Average Standard (B- to B): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.
High Standard: (B to B+) Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.
D- to D+; No major omissions or inaccuracies in the deployment of information/skills; Some grasp of theoretical/conceptual/practical elements; Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.
Excellent standard (A- to A*): An outstanding performance, exceptionally able. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.
Critically assess the main elements and features of alternative conceptual elements to understand innovation in banking;
Provide solutions to challenges in management of technological change.
Demonstrate an in depth knowledge of the contexts which have given rise to different views on managing technological change in financial services;
Recognise, evaluate and assess the large number of cultural, political, economic and environmental factors that gave rise to different forms and practices across countries and cultures;
Identify, enumerate and discuss the various dimensions of technical change and automation;
Participants will tackle a teaching case study while applying theories learned throughout the course
Apply learning of conceptual models and theories to real life situations. Choose two out of possible four essay questions.
Strategaeth addysgu a dysgu
Identify challenges and potential solutions to current issues in the management of technological change in banking through the discussion of teaching case studies and other media.
Offer a combination of traditional lectures and multi media resource.
Prepare for lectures from a list of readings of contemporary issues and journal articles.
- Llythrennedd - Medrusrwydd mewn darllen ac ysgrifennu drwy amrywiaeth o gyfryngau
- Rhifedd - Medrusrwydd wrth ddefnyddio rhifau ar lefelau priodol o gywirdeb
- Defnyddio cyfrifiaduron - Medrusrwydd wrth ddefnyddio ystod o feddalwedd cyfrifiadurol
- Hunanreolaeth - Gallu gweithio mewn ffordd effeithlon, prydlon a threfnus. Gallu edrych ar ganlyniadau tasgau a digwyddiadau, a barnu lefelau o ansawdd a phwysigrwydd
- Archwilio - Gallu ymchwilio ac ystyried dewisiadau eraill
- Adalw gwybodaeth - Gallu mynd at wahanol ac amrywiol ffynonellau gwybodaeth
- Sgiliau Rhyngbersonol - Gallu gofyn cwestiynau, gwrando'n astud ar atebion a'u harchwilio
- Dadansoddi Beirniadol & Datrys Problem - Gallu dadelfennu a dadansoddi problemau neu sefyllfaoedd cymhleth. Gallu canfod atebion i broblemau drwy ddadansoddiadau ac archwilio posibiliadau
- Gwaith Tîm - Gallu cydweithio'n adeiladol ag eraill ar dasg gyffredin, ac/neu fod yn rhan o dîm gweithio o ddydd i ddydd
- Rheloaeth - Gallu defnyddio, cydlynu a rheoli adnoddau (dynol, ffisegol ac/neu ariannol)
- Dadl - Gallu cyflwyno, trafod a chyfiawnhau barn neu lwybr gweithredu, naill ai gydag unigolyn neu mewn grwˆp ehangach
- Hunanymwybyddiaeth & Ystyried - Bod yn ymwybodol o'ch cryfderau, gwendidau, nodau ac amcanion eich hun. Gallu adolygu ,cloriannu a myfyrio'n rheolaidd ar eich perfformiad eich hun ac eraill.
- Arweinyddiaeth - Gallu arwain a rheoli, datblygu cynlluniau gweithredu ac amcanion, cynnig arweiniad a chyfarwyddyd i eraill, ac ymdopi â'r pwysau sy'n gysylltiedig ag awdurdod o'r fath
Sgiliau pwnc penodol
- People management: to include communications, team building, leadership and motivating others.
- Problem solving and critical analysis: analysing facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions.
- Research: the ability to analyse and evaluate a range of business data, sources of information and appropriate methodologies, which includes the need for strong digital literacy, and to use that research for evidence-based decision-making.
- Commercial acumen: based on an awareness of the key drivers for business success, causes of failure and the importance of providing customer satisfaction and building customer loyalty.
- Networking: an awareness of the interpersonal skills of effective listening, negotiating, persuasion and presentation and their use in generating business contacts.
- Ability to work collaboratively both internally and with external customers and an awareness of mutual interdependence.
- Ability to work with people from a range of cultures.
- Articulating and effectively explaining information.
- Communication and listening including the ability to produce clear, structured business communications in a variety of media.
- Conceptual and critical thinking, analysis, synthesis and evaluation.
- Self-management: a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.
- Self reflection: self-analysis and an awareness/sensitivity to diversity in terms of people and cultures. This includes a continuing appetite for development.
Goblygiadau o ran adnoddau ar gyfer myfyrwyr
Readings will be made available through Talis. No resource implication for students.
Rhestrau Darllen Bangor (Talis)http://readinglists.bangor.ac.uk/modules/asb-4008.html
(There is Talis reading list. The titles below are just examples)
Bátiz-Lazo, Bernardo, Joan Carles Maixé-Altés, and Paul Thomes. Technological Innovation in Retail Finance: International Historical Perspectives. Routledge International Studies in Business History. Edited by Matthias Kipping and Ray Stokes London and New York: Routledge, 2011.
Bátiz-Lazo, Bernardo, and Peter Wardley. "Banking on Change: Information Systems and Technologies in Uk High Street Banking, 1919-1969." Financial History Review 14, no. 2 (2007): 177-205.
Bell, Stephanie. "The Role of the State in the Hierarchy of Money." Cambridge Journal of Economics 25, no. 149-163 (2001).
Evans, David S., and Richard Schmalensee. "Markets with Two-Sided Platforms." Issues Competition and Law Policy (2008): 667-93.
Hannan, T. , and M. McDowell. "Rival Precedence and the Dynamics of Technology Adoption: An Empirical Analysis." Economica 54, no. 214 (1987): 151-71.
Liebowitz, Stan J., and Stephen E. Margolis. "The Fable of the Keys." Journal of Law and Economics 33, no. 1 (1990): 1-25.
Maurer, Bill. "The Anthropology of Money ". Annual Review of Anthropology 35 (2006): 15-36.
Maurer, Bill, Taylor C. Nelms, and Stephen C. Rea. "‘Bridges to Cash’: Channelling Agency in Mobile Money." Journal of the Royal Anthropological Institute 19, no. 1 (2013): 52–74.
McAndrews, James, and Zhu Wang. "The Economics of Two-Sided Payment Card Markets: Pricing, Adoption and Usage." In Economics Research Department WP -8-12, edited by Federal Reserve Bank of Kansas City. Kansas City MO, 2008.
Verdier, Marianne. "Retail Payment Systems: What Can We Learn from Two-Sided Markets?". Communications & Strategies 61, no. 1 (2006): 37-59.
Wray, L. Randall. Credit and State Theories of Money: The Contributions of A. Mitchell Innes. Cheltenham: Edward Elgar, 2004.
Cyrsiau sy’n cynnwys y modiwl hwn
Gorfodol mewn cyrsiau:
- N3CN: MBA Finance (10 month) year 1 (MBA/FIN10)
Opsiynol mewn cyrsiau:
- N3CH: MA Banking & Finance (Chartered Banker) year 1 (MA/BFCB)
- N3DC: MA Bank & Fin (Chart Bank) (with Incorporated Pre-Masters) year 1 (MA/BFCB1)
- N3AD: MBA Banking and Finance year 1 (MBA/BIF)
- N3DG: MBA Banking and Finance (with Incorporated Pre-Masters) year 1 (MBA/BIF1)
- N3BV: MBA Finance year 1 (MBA/FIN)
- N3DH: MBA Finance (with Incorporated Pre-Masters) year 1 (MBA/FIN1)
- N3AX: MSc Banking and Finance year 1 (MSC/BANKFIN)
- N3CS: MSc Banking and Finance (with Incorporated Pre-Masters) year 1 (MSC/BKFIN1)
- N3CT: MSc Finance (with Incorporated Pre-Masters) year 1 (MSC/FIN1)
- N3CM: MSc Finance (10 month) year 1 (MSC/FIN10)
- N3AJ: MSc Finance year 1 (MSC/FINANCE)
- N3CC: MSc Investment Management year 1 (MSC/IMGT)
- N3CX: MSc Investment Management (with Incorporated Pre-Masters) year 1 (MSC/IMGT1)
- N3CR: MSc Investment Management (10 month) year 1 (MSC/IMGT10)