CFT1C01 Fintech and Financial Services

Learning Objectives

This assignment will enable you to apply the concepts learnt in the subject. At the end of the assignment, you should be able to demonstrate your ability to:

• evaluate the technologies that enable fintech innovations;
• describe the development of fintech in the financial services industry;
• assess financial products and services with opportunities for fintech to add value;
• explain the critical factors for the success of fintech solutions.

Assignment Part 1 (Individual-20%) – Fintech Evaluation

As a Fintech Business Analyst working in SG Digital Bank (SGDB), you are to research and evaluate one of the technologies that have enabled or accelerated the fintech developments in recent years. You are to choose one of the suggested topics for evaluation. The list is not exhaustive. You may discuss with your tutor on a suitable topic not listed here.

1) Distributed Ledger Technologies (Smart Contracts, Blockchain, Decentralized Finance [DeFi], etc.)
2) Artificial Intelligence (Machine Learning, Deep Learning, Behavioral Biometrics, Natural Language Processing [NLP], etc.)
3) Analytics (Fraud Detection, Credit Scoring, etc.)
4) Robotic Process Automation (Digital Labour, Intelligent Automation, etc.)

Your fintech evaluation write-up should cover the following:

a) Overview of the fintech technology you have selected.
b) Evaluate the strengths and weaknesses of the chosen technology.
c) Research the potential impacts on business adopting technology in terms of time vs. cost vs. value.
d) Support your conclusion on its potential applications in the bank after your evaluation.

Your write-up on this part can be supported with diagrams. The total word count for this evaluation write-up should be around 1200 words.

Assignment Part 2 (Individual-30%) – Fintech Innovation in Banking

You are to describe the disruptive qualities of your chosen innovation by addressing the following questions:

1. Provide an overview of your chosen Fintech provider. What are the problems or pain points your chosen fintech solution provider is helping to solve, and how does it solve?

2. Who are the stakeholder(s) that stands to benefit from this innovation, and how it impacts them?

3. How does this solution provider develop a competitive advantage in the industry?

4. How does this solution provider able to generate revenue to sustain it business?

5. What are the possible challenges the solution provider faces when implementing fintech solution in the established financial institution?