Global Fintech: Financial Innovation in the Connected World

by	Alex Pentland, David L. Shrier

SKU: 9780262543668 Categories: Artificial Intelligence, Finance and the finance industry Tags: adaptive markets, AI, AI books, algorithm, algorithms, artificial intelligence, branding, business, business books, computer, computer books, computer science, computers, crime, culture, ecommerce, economics, economics books, economy, Education, finance, finance books, financial, human behavior, intelligence, investing, law, machine learning, marketing, math, money, philosophy, psychology, school, Self Help, social justice, social science, society, sociology, statistics, strategy, Superintelligence, tech, technology, trading, Wall Street

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How the global financial services sector has been transformed by artificial intelligence, data science, and blockchain. Artificial intelligence, big data, blockchain, and other new technologies have upended the global financial services sector, creating opportunities for entrepreneurs and corporate innovators. Venture capitalists have helped to fund this disruption, pouring nearly $500 billion into fintech over the last five years. This book offers global perspectives on technology-fueled transformations in financial services, with contributions from a wide-ranging group of academics, industry professionals, former government officials, and current government advisors. They examine not only the struggles of rich countries to bring the old analog world into the new digital one but also the opportunities for developing countries to “leapfrog” directly into digital. The book offers accessible explanations of blockchain and distributed ledger technology and explores big data analytics. It considers, among other things, open banking, platform-based strategies for banks, and digital financial services. Case studies imagine possible future fintech-government interaction, emphasizing that legal and regulatory frameworks can help to create trust in financial processes. The contributors offer novel takes and unexpected insights that will be of interest to fintech experts and nonexperts alike. ContributorsAjay Bhalla, Michelle Chivunga, John D’Agostino, Mark Flood, Amias Moore Gerety, Oliver R. Goodenough, Thomas Hardjono, Sharmila Kassam, Boris Khentov, Alexander Lipton, Lev Menand, Pinar Ozcan, Alex Pentland, Matthew Reed, David L. Shrier, Markos Zachariadis

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Weight	0.42 kg
Dimensions	2.04 × 13.34 × 20.17 cm
PubliCanadation City/Country	USA
by	Alex Pentland, David L. Shrier
Format	Paperback
Language	English
Pages	332
Publisher	MIT Press
Year Published	2022-3-8
Imprint	MIT Connection Science & Engineering
ISBN 10	0262543664
About The Author	David L. Shrier is a Professor of Practice (AI and Innovation) with Imperial College Business School. He is coeditor of New Solutions for Cybersecurity (MIT Press). Alex “Sandy” Pentland directs the MIT-wide initiative MIT Connection Science. Called one of the “seven most powerful data scientists in the world” by Forbes, he has cofounded more than a dozen companies and is the author of Social Physics and coauthor of Building the New Economy (MIT Press).
	“A rare collection of expert essays… The editors have created a much-needed gazetteer to help both professionals and lay readers—an impressive achievement.”—CHOICE Connects
Other text	Winner of the Outstanding Academic Title Award, Choice, 2022.
Table Of Content	Introduction 1I Foundations1 Fintech Foundations: Convergence, Blockchain, Big Data and AI 7David L. Shrier and Alex PentlandII Transitioning to the Digital Era2 Edge Effects: Bridging from Old to New 35Boris Khentov3 Open Banking: How Platforms and the API Economy Change Competition in Financial Services 57Markos Zachariadis and Pinar Ozcan4 Digital Financial Services 73David L. Shrier5 Policy and Fintech, Part I: Frameworks 91Oliver R. Goodenough, Mark Flood, Matthew Reed, David L. Shrier, Thomas Hardjono, and Alex Pentland6 Policy and Fintech, Part II: Use Cases 137Oliver R. Goodenough, Mark Flood, Matthew Reed, David L. Shrier, Thomas Hardjono, and Alex Pentland7 Digital Banking Manifesto 2.0 173Alex Lipton, David L. Shrier, and Alex Pentland III Fintech Possibilities 8 Regulatory Sandboxes 2039 Leapfrogging with Nextgen Fintechs and Emerging Tech for the Growth of Africa 219Michelle Chivunga 10 The Rise of Regtech and the Divergence of Compliance and Risk 251Amias Moore Gerety and Lev Menand11 On Governance and (Technical) Complexity 267John D'Agostino (with contributions from Sharmila Kassam)12 Responsible Technology: Advancing Trust and Securing the Ecosystem 283Ajay Bhalla Conclusion 293Contributors 295Index 299

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