Cutting Edge Developments in International Finance
Finance is unique in the business world: Although financial firms compete intensively among themselves, they have also historically enjoyed protection from outside players due to both their role as intermediaries and regulatory barriers to entry.
Yet, technological change is upending and disrupting industries such as transport (Uber) and lodging (Airbnb) that appeared invulnerable until very recently. Generally speaking, technology is rapidly causing disintermediation. Those who believed that finance was comfortably immune to these challenges may be surprised to learn, for instance, that internet-based marketplace lending has grown from nonexistent to a $9 billion business in a few short years.
The goal of this course is to give students an understanding of how technological innovation is rapidly transforming the finance and investment landscape. We endeavor to provide participants with the tools to understand what is happening, what may soon happen, and how they might respond to these changes – either as incumbent players or new competitors.
This course is intended to be practical. The methodology for this course is a combination of the fundamental ideas that are shaping these changes and three hands-on case studies that detail how these entities have adapted to this environment
1. Monday, June 29, 09:30-14:00. Introductory Conference and Disruptive Change in Financial Markets
• Sustainable and disruptive innovation and their impact upon other industries
• Examples of how new entrants have changed various sectors
• Strategies incumbents have used to succeed despite these changes
2. Tuesday, June 30, 09:30-14:00, Marketplace Lending
• New peer-to-peer business models for consumer and SME lending
• Why it may threaten traditional banking
• Competitive analysis and environment
• New regulatory drivers
• Case study: Lending Club
3. Wednesday, July 1, 09:30-14:00, Crowdinvesting
• “Democratization” of venture capital
• New business models for startups and small businesses
• Transformative role of new technologies
• Case study: Crowdcube
4. Thursday, July 2, 09:30-14:00, Automated Wealth Management
• How new technology is changing the wealth management industry
• What is “robo investing” and how does this business model work?
• How incumbent firms are responding to these new threats
5. Friday, July 3, 09:00-13:30, Digitalization and Transactional Services
• How digital technology is transforming the value chain in finance
• The future of payments and connectivity: real time and access to accounts
• Virtual currencies and the blockchain technology
• Case study: A dilemma for banks
Registration and Enrolment Process＋
Those interested in participating in one of the programs should fill out the application for admission on the CUNEF website (www.cunef.edu) and attach the required documentation: Curriculum Vitae and covering letter.
The enrolment process begins in January 2015 and ends on 30th June 2015.
Upon receipt of the application for admission, CUNEF will assess the documentation and issue the corresponding letter of admission to the selected participants which will inform them of the procedures to be followed to formalize their tuition fees for the program. Additionally, they will be informed about the accommodation options near the CUNEF Campus as well as complementary activities especially aimed at CUNEF Finance Summer School participants.
Price of the programs: The program cost is between €1,125 and €1,500, depending on whether it includes 30 hours or 40 teaching hours.
Scholarships and grants: CUNEF arranges 25 scholarships for 50% of the costs of enrolment in the summer course in which the applicant has been admitted, aimed at participants demonstrating a university record averaging 7 or above. To apply for one of these scholarships, the university record stating the average mark obtained by the applicant in their studies should be attached. Grants for accommodation covering the stay in Madrid during the two weeks of the course are also arranged.
Life in Madrid＋
Madrid is the capital of Spain and one of the largest cities in the European Union. It is a dynamic, cosmopolitan city with a wide range of cultural and social activities. From a business perspective, Madrid hosts the corporate headquarters of the vast majority of financial institutions and businesses operating in Spain.
It is an influential cultural center and has internationally prestigious museums, most notably the Museo Nacional Centro de Arte Reina Sofía, the Museo Nacional del Prado, the Thyssen-Bornemisza and CaixaForum Madrid, which respectively occupy the 12th, 18th, 67th and 80th place among the most visited museums in the world. Madrid has an excellent social life, a pleasant climate and is well connected to many other Spanish and European cities and tourist sites of great interest.
You can see more information on Madrid at:
"Technological change is disrupting industries such as transport (Uber) and lodging (Airbnb). Today, finance is also being subject to these innovative game changers. The goal of this course is to give students an understanding of how this innovation is rapidly transforming the finance and investment landscape. Using competitive analysis and practical case studies, we endeavor to provide participants with the tools to understand what is happening and how to respond."
Prof. Steven Zitzer