Financial Models, Markets and Instruments
Financial Technology (FinTech)
Salford Business School
In a nutshell
This Masters in Financial Technology programme addresses the knowledge gap created by the pace of technological transformation in financial services and markets; it has been designed to meet the latest employment needs in the FinTech industry. Experts working in the sector have helped shape the programme to ensure it is relevant and up-to-date. The degree is taught at our Salford campus close to Manchester city centre.
The course is multidisciplinary, using industry-specific business cases from our contacts in the FinTech sector to blend the relevant hard and soft knowledge and skills. While the programme focuses on the technical innovations in finance, you will also gain insight into how marketing, regulation, economic policy and financial governance contribute to your essential knowledge.
Greater Manchester is an ideal place for you to study Financial Technology; as the Northern FinTech Capital, the region has strengths across FinTech sub-sectors, including data analytics, cyber security etc. FinTech companies form an integral part of the supply chain to a number of financial services companies and many banks and financial services firms have FinTech departments based in Manchester, drawing on local expertise and supply chains. With constant investment in the FinTech future, these companies offer you access to wide range of live projects, networking and, ultimately, employment opportunities.
The programme is highly industry-focussed and culminates in the FinTech Project. You will work on a live project briefed by a FinTech company to address a real industry problem and provide researched solutions, helping you put your learning into practice.
- Work on an industry-briefed project addressing gaps arising from the fast growth of technological transformation in financial services and markets
- Learn the latest market trends and needs around risk, insight, creation and how technology better serves FinTech companies
- Gain real-world learning from guest lectures and practical business cases offered by our industry advisors
- Study in Greater Manchester which is the Northern FinTech Capital
- Prepare for employment in FinTech companies or FinTech related financial service companies
This is for you if...
You are looking to understand how technology is reshaping the financial industry
You want to learn cutting-edge technologies in the financial workplace
You wish to explore and learn from the success and failure stories in FinTech
You aspire to a career in FinTech companies, digital payment, new trading, security protection firms, risk management and regulatory compliance
You want to learn about the regulation, competition, trends and environment that are impacting the financial innovation space
You want to explore technological innovation / transformation in finance for a business idea or for implementation within your organization
All about the course
The course is delivered over three semesters of 12 weeks. In each of semesters one and two, you will study one 30-credit module and two 15-credit modules with face-to-face teaching on campus for a total 8 hours each week. In addition, you will undertake independent study in your own time with online support through the University’s virtual learning environment, Blackboard.
For the third semester, you will be working on your practical project. This is a live project related to financial innovation and technological transformation, as well as their impacts on Financial markets and services. It is briefed by an industry advisor and you will be supported by Business School academic staff. The project brief can be from your own or another organisation.
Part-time students study alternate modules (one module on, one module off) to complete their degree in two years.
This module gives students the basic foundations of how modern capital markets function. The main objectives of the module are to:
- Provide insight into the basic mechanics of capital markets and the different types of submarkets.
- Give you an understanding of the different types of financial products that are available and how they are traded.
- Explore different models that can be used to understand the behavior of capital markets and how they can be tested empirically.
- Use modern econometric methods such as time series analysis and high frequency data to explore the behavior of financial market instruments in practice
This module is worth 30 credits.
Technological innovation is changing the way businesses operate and how they deliver products and services. Financial technology (FinTech) companies are transforming the financial services sector, providing new financial products and a seamless customer experience. In this module, you will gain a multi-dimensional perspective on what FinTech means and gain the expertise to develop disruptive FinTech innovations. You will:
- Look at how to identify and work with different products and services involved in the FinTech financial ecosystem
- Apply enabling technologies to potentially create new financial services and products
- Learn cutting-edge programming languages used in FinTech data analytics.
On successful completion of the module you will not only be able to work effectively in the development of innovative FinTech technologies, but also contribute finance and business insights and understand the big picture. This module is worth 15 credits.
The Economic and Regulatory Environment of FinTech
This module equips students with the ability to analyse the FinTech industry. The module focuses on the external factors affecting this industry, including the economic and regulatory environment, micro and macro risks and how to mitigate these. Students will be given plenty of opportunities to extract policy and managerial implications relevant for FinTech firms. This module is worth 15 credits
Innovation in Finance
The module will equip you with the skills of interpreting how disruptive FinTech innovations are developed, using appropriate tools and techniques. You will discuss the future of money, economy and financial marketplaces. You will look at both theoretical and practical understanding of how the financial services industry has been transformed through the adoption and use of digital innovation and information technologies. More specifically the module will look at blockchain, cryptocurrency, payment infrastructures, digital economy, FinTech ecosystem and crime detection, forensic analytics. This module is worth 30 credits.
FinTech Data Analytics
FinTech companies heavily depend on machine learning, artificial intelligence, predictive analytics and data science to simplify financial decision-making and optimise solutions. In this module, you will learn and apply a range of established Big Data and analytics techniques to critically analyse information and propose solutions to FinTech and other financial sector problems. You will gain a core set of skills and expertise in relevant programming languages and computational modelling skills such as Python and artificial intelligence and data mining to generate data-driven insights for new and existing financial services and products. On successful completion of the module you will not only be able to collect and analyse data to underpin business decisions, but also be able to work effectively in the development of innovative FinTech data analytics technologies. This module is worth 15 credits.
Through digital innovation, FinTech companies have the scope to make financial services more inclusive, accessible, streamlined and better aligned with consumer values. FinTech for good is the concept that finance can and should be used to generate environmental and social benefits for a more sustainable future. This module will allow you to explore the business and marketing models of FinTech and the ethics and corporate governance issues facing FinTech that has the potential to understand the potential for FinTech organisations to engage and lead the sustainability agenda in the 21st century. This module is worth 15 credits.
You will work on an industry - focussed project addressing gaps arising from the fast growth of technological transformation in financial services and markets. Supported by advisors from the FinTech industry, you will work with industry to apply the learning you have obtained from the taught modules of the programme. This module is worth 60 credits.
Please note that it may not be possible to deliver the full list of options every year as this will depend on factors such as how many students choose a particular option. Exact modules may also vary in order to keep content current. When accepting your offer of a place to study on this programme, you should be aware that not all optional modules will be running each year. Your tutor will be able to advise you as to the available options on or before the start of the programme. Whilst the University tries to ensure that you are able to undertake your preferred options, it cannot guarantee this.
What will I be doing?
Your teaching is delivered using a combination of learning activities; not just lectures, seminars, tutorials and workshops but also software demonstrations (eg Matlab and Stata software), group exercises, case studies, formal presentations and online discussion forums. In addition, you will access a wealth of material on the University’s virtual learning environment for your independent study.
The assessment for the modules is both formative (continuous assessment within the programme) and summative (end of module learning assessments). Formative assessments mean you can assess your progress and test your learning from feedback during the module. Normally, a module consists of two pieces of summative assessment.
The practical project in semester 3 is an opportunity for you to apply your knowledge and learning in a less structured environment. It is assessed by means of a business report and counts towards 60 of the total 120 credits.
Over the duration of your course, a range of assessment methods is used. These include essays, continuous assessments and written exams as well as formal assessed presentations, reports and case studies
SALFORD BUSINESS SCHOOL
Salford Business School aims to be the most business-informed, industry-relevant business school in the UK. Industry shapes everything we do, from informing our students’ learning to providing work placements, driving our research and influencing our academic staff.
We want you to gain the best academic and personal experience possible. As a student here, you’ll have access to a range of experiences and opportunities, including internships and work placements in the UK or internationally so you graduate with much more than a degree.
Salford Business School is located at the heart of the University’s Peel Park campus and just minutes from Manchester city centre. Teaching facilities include Lady Hale and Chapman buildings, which offer stylish modern spaces with lecture theatres equipped with the very latest technology and large screen displays.
Throughout campus, there is a choice of individual study areas, communal learning and breakout spaces, plus a selection of food outlets.
The library in the park
Having undergone a £6.2 million refurbishment, Clifford Whitworth Library is a truly modern learning space with PC suites, group study rooms, silent study areas, access to specialist publications and much more. Based at the centre of the Peel Park campus, the library is open 24/7, all year round. In addition to Clifford Whitworth Library, there are several study spaces on campus.
Our library staff will support you with the extra study skills you need to succeed at postgraduate level whether you are moving straight on from undergraduate study or returning to education after a break.
Dr Jia Zhai holds a BSc (Hons) in Finance, along with a Masters and a PhD in Finance from University of Essex. Her research is mainly in the areas of financial technology, finance and Artificial Intelligence (AI), asset pricing, derivatives, and applied financial econometrics. She has published a number of articles in leading international journals and served as journal reviewer and guest editor for several peer-review journals in finance. Her research outputs have been presented at world-leading conferences, e.g. INFORMS, EURO, Asia FA, EFMA, and funded by national and international research grants.
If you’re planning on commuting, both our MediaCityUK and Peel Park campuses are perfectly placed. Whether by bus, rail, bike or car, we’re easily accessed from all over Greater Manchester, Lancashire and beyond.
What about after uni?
This qualification will equip you for a broad range of career opportunities in, for example, fintech companies, digital payment companies, new trading firms, security protection firms, risk management and regulatory compliance, credit management, etc.
Opportunities are growing in areas such as Compliance, which has seen steady job growth since the financial crisis; and cyber security where a report by Cybersecurity Ventures recently estimated that cybercrimes will triple the number of job openings in the next five years and it is estimated that there will be at least 3.5 million unfilled cybersecurity positions by 2021.
The University of Salford grew out of the institutes of the late 19th century that provided a talented, technically proficient and professional workforce to support the UK’s rapidly growing industries. In the 21st century, this still holds strong. Whilst industry has changed significantly, the need for industry-focused education is equally relevant today.
We teach the skills that employers need and as a result, our graduates enjoy excellent international career prospects.
The curriculum across our postgraduate courses balances academic teaching and professional experience. Our industry partners give us their input into the curriculum so that the teaching reflects industry’s current and future needs and you develop the skills that employers want. The Industry Collaboration Project, which forms the final third of your study, is designed to give you real-world experience so you can apply the theory you have learned.
What you need to know
This course is perfect if you are looking for a master’s level of FinTech program to enhance your understanding of how technology reshapes the financial industry, creates revenue, strengthens security and adds value.
The programme is designed for graduates with an academic background in financial management accounting, economics, computer science, management or business studies. Alternatively, sufficient and suitable work experience will also be considered.
The MSc is the only route available for international students.
ENGLISH LANGUAGE REQUIREMENTS
Normally IELTS 6.0 with no individual element below 5.5, or equivalent recognised Secure English Language Test, (SELT).
If the English language qualification is slightly below this level candidates may be able to take one of the many English courses available in the University.
A minimum 2:2 degree or equivalent or successful completion of the Graduate Certificate International Management in a business, finance, or economics subject, or a numerate subject such as engineering, computing, maths or informatics; or an equivalent overseas qualification.
Candidates with a 2:2 honours degree in other disciplines will be considered on an individual basis if some level of finance/ economics/ informatics content formed part of the degree and you can demonstrate a high level of quantitative ability through your degree results.
Candidates with a 2:2 honours degree in an unrelated subject area but have relevant work experience or relevant professional qualifications will be considered on an individual basis.
Accreditation of Prior Learning (APL)
We welcome applications from students who may not have formal/traditional entry criteria but who have relevant experience or the ability to pursue the course successfully.
The Accreditation of Prior Learning (APL) process could help you to make your work and life experience count. The APL process can be used for entry onto courses or to give you exemptions from parts of your course.
Two forms of APL may be used for entry: the Accreditation of Prior Certificated Learning (APCL) or the Accreditation of Prior Experiential Learning (APEL).
|Type of study||Year||Fees|
|Full-time home||2020/21||£8,100per year|
|Full-time international||2020/21||£15,030per year|
|Part-time||2020/21||£1,320 per 30 credit module|
|Full-time home||2021/22||£8,100per year|
|Full-time international||2021/22||£15030per year|
Fees for 2021 are waiting to be finalised.
For more information please see our funding section.
You should also consider further costs which may include books, stationery, printing, binding and general subsistence on trips and visits.
Scholarships for international students 2020/21
International applicants to Salford Business School postgraduate master’s programme may be eligible for the Salford Business School International Excellence Scholarship worth £3,500, or the Salford Business School Silver Award worth £2,500.
New programme: Salford Business School is delighted to present this new programme for September 2021, aimed at both recent graduates and professionals with a financial, IT or business background looking to expand their understanding of technology in finance.