A duo of the UK’s top business schools will launch fintech courses focused on bitcoin’s blockchain after striking research and funding deals with Citigroup, KPMG and CME Group.Citi has funded the new Centre for Global Finance and Technology at London’s Imperial College Business School, which is exploring fintech content and research and is identifying academics to serve as faculty on the new courses and modules.
“I will be looking actively with my colleagues to develop courses and modules in that space,” said Professor Andrei Kirilenko, director of the Center, who is the former chief economist of the US Commodity Futures Trading Commission.
He said that there is an effort among business schools to create new courses and research on the impact of technology on the financial services sector. Last week both MIT Sloan and UC-Berkeley’s Haas School of Business told BusinessBecause they were planning to launch new fintech programs for MBA students.
“Markets and institutions have become automated. They are server farms,” he said, adding that “it all now runs on lines of code”.
Cambridge University’s Judge Business School meanwhile will launch three to four new courses focused on fintech over the next few years.
“We’re seeing a lot of interest from mainstream financial industries and from students who want to work at these financial technology companies,” said finance professor Raghu Rau, a director for the Cambridge Centre for Alternative Finance.
The first fintech course will be launched “probably sometime later this year,” he said.
Demand among MBA students for careers in the nascent fintech sector is surging, according to Regina Resnick, associate dean for careers at Columbia. “There are a number of Columbia Business School students interested in the intersection of finance and technology,” she said.
Judge’s research has explored the blockchain, the record of asset ownership that underpins bitcoin, which has the world’s biggest banks such as Goldman Sachs and payments leaders like Visa trying to adopt it to potentially cut costs and increase profits. “The blockchain is eating away at them,” Raghu said.
It follows a lead set by US business schools Duke Fuqua and NYU Stern, which have pioneered research and education into bitcoin and its underlying technology.
Judge recently teamed up with KPMG and the CME Group Foundation on research that found the UK online alternative finance market reached to £3.2 billion in 2015.
“It’s clear the market has come of age as an integral part of the lending landscape,” said Warren Mead, global co-lead of fintech at KPMG.
He added: “Incumbents are playing catch up with their own digital investment, and are closing in on the disrupters’ lead.” Bank of America, Citi, Goldman, JPMorgan Chase, Morgan Stanley, and Wells Fargo have poured investment into 30 fintech start-ups since 2009, according to CB Insights.
The banks’ fintech focus comes as a number of start-ups begin to bite at the fringes of their business models, such as TransferWise, FundingCircle and Nutmeg. “Without a shadow of a doubt, new innovative players like WorldRemit are shaking up the traditional financial services sector,” said Ismail Ahmed, CEO of WorldRemit, a money transfer business valued at $500 million, and London Business School MBA.
MBA students are increasingly keen to work at such start-ups and in the wider fintech space, said Sarah Juillet, director professional development at Cass Business School — one reason for the growth in the number of fintech courses launched by business schools.
“There are a lot of start-ups using technology in the finance industry looking for MBAs,” said Sue Thorn, director of Warwick Business School CareersPlus, “and these days, MBAs are interested in joining start-ups.”
Imperial’s Andrei agreed that career opportunities are growing in the fintech space.
But he added that the new generational of post-crisis financial services leaders will come from engineering backgrounds. “They will not be traders or investment bankers,” he said.
Student Reviews
Best Journalism school in Europe
When I first stepped onto the campus of City, University of London, I knew I was in for a ride - and not just on the Tube! With its vibrant energy and an impressive repertoire of programs, City U became my home away from home.
The Journalism program was kind of a big deal. Rumour was that we were the best in Europe!
The lecturers were not just experts in their field; they’re practically journalistic royalty. They were invested, passionate, and had a knack for turning the most flat press release into a riveting news story. With their guidance, I’ve learned to navigate the chaotic world of media like a pro.
The campus was a melting pot of every culture, being that we had such a diverse international crowd.
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City, University of London wasn't just a university; it was a chapter in my life story that I’ll never forget.
Learning environment
The teacher-learner ration is manageable, giving each learner a chance to gain personal attention. It is also easier following up on the progress of a student, as the numbers per class is not large. the conducive environment for learning includes clean classes, standard desks, world class instructional facilities and the opportunity to engage lecturers even after their sessions. The team spirit at City is above board, with learners getting chance to learn both from instructors and colleagues. This is the university of choice; the place to be.
Classes
I liked that each class had a manageable number of learners, making the professor-learner ratio favor knowledge acquisition. I also liked that study schedules were manageable, and not overwhelming. The focus on talents and gifts even within the learning environment makes it possible for learners to achieve the best of their potential, and this has worked to the advantage of those that have schooled at City, University of London
Classes
The diversity at City University facilitates interactions and is a direction toward the unity of the world. The classes are well built to match the number and needs of all students regardless of the elements of diversity that set people apart. The use of technology in delivery makes learning even more interesting and achievable. At City University there is no distinction pegged on the issues that make people unique.
professors
The team of lecturers at the Uiversity are well experienced. Their level of insight and the methodologies of delivery works for the interes of the leaeners. My learning experience was largely boosted by the level of knowledge of the professors at the institution, and their passion to transfer the same to learners. I appreciate every class I attended because of the level of insight I was able to gather
The best university I’ve been to
The campus and the people I've met have made it a wonderful experience. I was reared in a small town with a graduating class of only 88 individuals, so moving to City University was a huge adjustment for me. My dorm has more residents than my whole high school combined! I enjoy the atmosphere here, and everyone is so friendly. Outstanding academic options and a stunning campus. Really great from beginning to end. The educators genuinely love what they do, and the students are ready to learn. On or around college, there is always something to do with friends, and the social scene is particularly warm.
Bayes Business School
As a student at City university attending Bayes Business School I would totally recommend choosing this university as the experience is exceptional with great social networking opportunities . Professors are significantly helpful, delivering with excellence and professionalism. Everyone is happy to help and make you feel welcomed in such an esteem university as City, offering exceptional development and guidance through out the course.
Economics and Politics
Incredibly amazing university, the way they polish students and help them boost their morale and think intellectually is worthwhile. Many universities have international partnerships to allow exchanges between their students. The most obvious subjects for these opportunities would be those that involve languages, and the study of people and places.
Clinical biology
I really like it it’s perfect for me with not too many people and not too few either. All the modules are amazing. I love the toy bar. I love all the societies that I’ma part of. Especially the colour Bollywood society
Unlocking My Potential at City University London
My time at City University London was truly transformative. The university's vibrant community and diverse extracurricular activities allowed me to forge lifelong friendships and professional connections that extend beyond the classroom. I was impressed by the university's commitment to academic rigor, character development, and personal growth, which created an ideal environment for me to reach my full potential. The research-driven and industry-relevant curriculum provided me with a solid foundation in international business, while the dedicated faculty and staff offered invaluable guidance and support. I feel grateful for the well-rounded education and holistic experience that City University London offered, preparing me for success in my career and beyond.
Rather interesting
The academics are tough, but in a good way. The professors are experts in their fields, so you know you’re learning from the best. They push you to think for yourself and really dive deep into the subjects. But it’s not all about hitting the books; London itself is like an extension of the campus. You’ve got museums, galleries, and just the general buzz of the city to keep you inspired.
Urban campus life
At the University of London, I have experienced dynamic and diverse academic environment where I was challenged by rigorous coursework. You will have the flexibility to choose from the wide range of courses, participate in numerous extra-curricular activities and take advantage of the many opportunities
