Financial technology (better known as fintech) is used to describe new technology that seeks to improve and automate the delivery and use of financial services. At its core, fintech is utilized to help companies, business owners, and consumers better manage their financial operations, processes, and lives.
Our Legal and Banking teams are comprised of specialists in International Sales and Services Contracts, FinTech Compliance and Monetary Policy. Together they have developed a range of seminars and bespoke training programs that cover a broad spectrum of business sectors. One of our trainers is the respected emeritus Senior Economist of the European Central Bank, Dr. Philippe Moutot.
Over the past decades Dr. Moutot saw Fintech taking over the whole Banking and Financial System. As a highly experienced and former Senior Economist and Principal advisor of co-founders of the European Central Bank. He therefore is a well-known specialist on monetary policy, monetary unions, digital currencies and multi-lateral banking negotiations. He was the principal negotiator of the Maastricht Treaty sections that initiated and implemented the process for creation of the Euro and the European Central Bank.
Dr. Moutot matches deep research to his knowledge and forecasting of current outlooks to direct experience of policy-making for central banks. He has recently been concentrating on the risks and benefits of digital currencies, and climate change to identify new policies and assess future risks for Central banks and the banking sector in general.
His experience and knowledge into the field of Banking and Finance is now available for our students to benefit from. Even his knowledge about Fintech and Crypto Currencies and the policies related to them, can give you insights into the future. He therefore is a valuable asset to our courses, and definitely an immense advantage to our students. Students are able to learn from an insider of the Banking and High Finance World, to gain many insights.
Practical examples of Fintech
Fintech companies consist of both startups and established financial institutions and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies. The use of smartphones for mobile banking, investing, borrowing services, and cryptocurrency are examples of technologies designed to make financial services more accessible to the general public.
In the realm of fintech, four crucial areas are artificial intelligence (AI), blockchain, cloud computing, and big data. Artificial intelligence refers to the intelligence displayed by machines, as opposed to the “natural intelligence” exhibited by humans and animals. AI is becoming increasingly vital in traditional banking as it offers technologies like voice recognition, natural language processing, and computer vision for managing user accounts, detecting fraud, and employing machine learning and deep learning networks for anti-money laundering and credit modeling.
Cloud computing plays a significant role in mobile and internet payment systems. Financial institutions worldwide have seen a significant rise in the adoption of cloud computing over the past decade.
European Regulation on Fintech
The European Regulation on Fintechs encompasses the set of laws, directives, and guidelines governing financial technology (fintech) companies’ operations, development, and innovation within the European Union (EU). With the fintech sector rapidly advancing in recent times, the European Commission and European Parliament have introduced diverse regulatory frameworks. The objectives are to uphold financial stability, encourage innovation, and safeguard consumer interests. These frameworks seek to establish a unified market for fintech services while effectively addressing the emerging risks and challenges associated with novel financial technologies.
