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“Banking is technology. Without technology, there is no bank.”
Ian RAE
Former CIO,
ANZ BAnk
Straits Times, 7 May 2015
Banks Need You
Why We Focus On Financial Services?
• New MAS initiative on 3 specific areas: Fintech, Payments, Analytics• New lab within MAS• Cross-sector initiatives, e.g. 1: LTA studying self-drive vehicles with
environmental sensors and navigation systems, e.g. 2 transport, analytics and insurance: calculating premiums for multiple drivers of a taxi
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The big trends in technology affecting finance:
1. Digital and mobile payments
2. Authentication and biometrics
3. Block chains and distributed ledgers
4. Cloud computing
5. Big data
6. Learning Machines
http://www.mas.gov.sg/news-and-publications/speeches-and-monetary-policy-statements/speeches/2015/a-smart-financial-centre.aspx
Exciting Time in the Financial Services
MAS Financial Innovation Partners
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INSEAD
NUS – RMI (Advancing Risk Management for Singapore
and Beyond)
NTUInstitute of Catastrophe Risk Management
EDHEC-RISK
Institute
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MITB-FS offers
1. Finance (Business domain)
2. Technology
3. Operations
Plus
1. Discovery skills
2. Design thinking
Innovation
FinTech Growth Market
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A portmanteau of financial technology that describes anemerging financial services sector in the 21st century.
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Financial Technology (FinTech)
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Fin·Tech noun : an economic industry composed of companiesthat use technology to make financial systems more efficient.
Source: Wharton Fintech Club
“… technology that serves the clients of financial institutions,covering not only the back and middle offices but also the
coveted front office that for so long has been human-driven.Source: Valuestreamlabs
“… innovation in technology that assists the clients of financialorganizations.”
Source: http://www.grovelands.co.uk
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FinTech; Capital F or capital T?
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What is Financial Innovation?
• Creation and popularising new financial instruments as well as
new financial technologies, institutions and markets.
It includes
• Institutional,
• Product and
• Process innovation.
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Strengthening Tech & Ops Skills in FS
Financial Services Track Curriculum
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A Series – Banking Products & Processes
A.1+ Banking Products & Processes
A.2+ Retail Banking Technology & Operations
A.3 Corporate Banking Technology & Operations
A.4 Financial Markets Technology & Operations
A.5 Trading Technology & Operations
A.6 Payment Technology & Operations
A.7 Assets Management Technology & Operations
A.8 Lifecycle Implementation of Banking Products
A.9 FS Operational Risk I: Foundation & Framework
A.10 FS Operational Risk II: Technology & Systems
A.11
+Financial Services Analytics in Practice
FinTech in MITB – Upcoming seminars
1010
Is DevOps Faster on the Cloud?
By
Mr Paul GriffinAssistant DirectorEASTSPRING INVESTMENTS (SG) LIMITED
DATE 24th February 2016, Wednesday
VENUE Seminar Room 2-3, Level 2School of Information SystemsSingapore Management University
6.30pm
(Refreshment & Registration)
7.00pm to 8.00pm
(Presentation by Mr Steve Lam)
8.00pm to 8.30pm
Q&A
FinTech: Risky Proposition?
By
Mr Steve LamPartnerErnst & Young Advisory Pte. Ltd.
DATE 29 February 2016, Monday
VENUE Seminar Room 2-2, Level 2School of Information SystemsSingapore Management University
6.30pm
(Refreshment & Registration)
7.00pm to 8.00pm
(Presentation by Mr Paul Griffin)
8.00pm to 8.30pm
Q&A
Singapore FinTech Scene
2C2P GoSwiff Crowdo Fastacash
Codapay Moneythor InfoTrie Dragonwealth
LoanGarage ApexPeak
Why MITB (Financial Services Analytics)?
Unique combination of Technology & Operations and AnalyticsThe dual skills in analytics and IT banking processes will equip students to
derive business insights and guide business decisions.
Innovative and Resourceful
A perfect blend of theory and practical application of concepts will enablestudents to design solutions to address the challenges in financial servicesindustry through various hands on activities and business cases.
Broad-based exposure with in-depth knowledgeMITB (FA) provides in depth knowledge in extracting useful knowledge from
huge data sets, in turn designing performance models & usage of optimizationtechniques.
Financial Services Analytics (FA) Track
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A.11 Financial Services Analytics in Practice
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A new course specially designed and developed for FS Analytics track students
Course Description− This course is designed for FS Analytics students to bridge the gap between analytics techniques
and the applications, focusing on financial institutions. Using current applications of analytics inthe banks, to facilitate discussion and labs and inviting industry leaders as guest speakers, thecourse will allow students to understand how domain knowledge in financial services interactswith the different areas of the analytics value chain.
Course Objectives− At the end of the course, students would be able to identify potential areas and challenges in
the implementation of analytics, allowing them to propose valuable analytics solutions that areactionable by the financial institutions.
Methods− SMU Pedagogical methods including lectures, industry speakers, blended learning, labs
Proposed Tools− SAS Enterprise Guide, SAS Enterprise Miner
Financial Services Analytics Curriculum
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A Series + B Series
• Banking Products & Processes
• Analytics Technology & Applications
A.1+ Banking Products & Processes
A.2 to A.8 – Choose one
A.9 to A.10 – Choose one
A.11+
Financial Services Analytics in Practice
B.1 Analytics Framework & Business Context
B.2+ Data Analytics Lab
B.3 to B.10 – Choose two
Devansh SharmaGraduated August 2014Business Analyst (Credit Risk)
Credit Suisse, India
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Zhou YuGraduated August 2014Risk Control Analyst
Chong Hing Bank Limited
Sunil BansalGraduated May 2015VP, Development of multi asset equity productsCitibank London
ZHANG SIQIGraduated January 2015Software Engineer,
Accenture, Singapore
MITB (Financial Services) Alumni
2/26/201616
http://www.channelnewsasia.com/news/business/singapore/singapore-banks-still/2507538.html
Singapore Banks Still Hiring
Creating Innovation Capabilities
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