MIT Fintech / Commerce Certificate Program

Massachusetts InstituteofTechnology |SchoolofArchitecture+Planning
MASSACHUSETTS INSTITUTE OF TECHNOLOGY
Fintech certificate course:
Future Commerce
Online and part-time

Technological innovation applied to financial services has created a new wave of
entrepreneurial activity that threatens to change the shape of the global financial
system over the next decade. This disruption is creating new opportunities for both
entrepreneurs and “intrapraneurs” (corporate innovators).
Investment in fintech startups has increased by over 600% over the last 5 years. Joining
the venture capital community, bank spending on innovative technologies is projected
to amount to $19.9 billion in 2017*.
How should key players, decision-makers and disruptors respond to this revolutionary
force, fast gaining ground in economic centres from Asia and North America to Australia
and beyond?
Enter MIT’s Fintech certificate course: Future Commerce
This 12-week online class is designed for those who want to experience, engage with,
and embrace the disruption fintech is bringing to the global economy. Designed for
professionals, entrepreneurs and investors working or consulting within the financial,
banking, and insurance sectors, this immersive online learning experience will empower
you with the knowledge you need to explore and build the future of transactions and
financial technology.
A projectised approach designed for real-world application
During the first half of the course, you will form small groups with fellow students to
collaboratively engage with theoretical material to improve your understanding of the
financial technology industry.
During the second half of the course, you will have the opportunity to apply your
knowledge while completing your capstone project, where you will develop a business
idea that aims to solve a particular problem by producing one of the following**:
1. A Venture Plan / Business Case for either an entre- or intrapreneurial venture
for commercializing a compelling emerging technology opportunity
2. A Prototype Demonstration of a compelling emergent financial technology or
future commerce enabler
3. An Innovation Roadmap looking at the big picture of technology and industry
trends and analyzing the dominant dynamic drivers of innovation
**Note that these projects are completed in project groups. If you wish to work on a project individually, you will need to
apply to do so, and applications will be reviewed on a case-by-case basis. More information about the group project will
be provided during the Orientation Module at the start of the course.
*Sources: KPMG, American Banker

At a glance: the MIT Fintech certificate course:
Future Commerce fact sheet
Prerequisites:
No formal prerequisites, though it is recommended that students should have basic
business knowledge and a broad familiarity with fundamentals of business finance.
Outcome:
A certificate of completion from MIT, as well as a practical portfolio of evidence of
knowledge and competencies gained in the form of your capstone project.
Key focus areas:
8 - 12 hours
per week
12 weeks,
online
$2,300* Starts
6 June 2016
*Tax may be charged on the course fee depending on the student’s country of residence.
• Money and Payments
• Markets
• Marketplaces
• Infrastructure
“You will be exposed to the future of money; with disruptive technologies, like blockchain, leading to
the rise of new currencies. You will explore innovation in financial markets; how new technologies
around data and analytics, for example, are creating the ability to predict the future price of a
security with great accuracy. You’ll have an opportunity to understand how all of this serves and
impacts small to medium-sized enterprises. You’ll investigate what’s going on with identity, privacy
and security, and other areas of financial infrastructure. You’ll also hear from some of the world’s
leading minds on developing new policies around these areas.”
― DAVE SHRIER: MANAGING DIRECTOR OF CONNECTION SCIENCE AT MIT

MIT instructors on this course
Alex “Sandy” Pentland
Founding faculty director of the MIT Connection Science Research
Initiative, which uses network science to access and change real-world
human behavior; and holds a triple appointment at MIT in Media Arts
and Sciences, Engineering Systems Division and with the Sloan School of
Management. He is a founding member of advisory boards for Google,
AT&T, Nissan, and the UN Secretary General, and a serial entrepreneur
who has co-founded more than a dozen companies including two hedge
funds.
Dave Shrier
Managing Director of MIT Connection Science. He leads other new
initiatives for MIT, advises the European Commission on commercializing
innovation and building regional innovation capacity, and counsels
leadership at private and public companies on growth strategies. David
has driven over $8.5 billion of growth initiatives for various Fortune 1000
companies, and has served as CEO or COO/CFO for 6 privately funded
companies.
Brian Forde
Director of Digital Currency at the MIT Media Lab, where he leads efforts
to mainstream digital currencies like Bitcoin through research, as well as
incubation of high-impact applications of the emerging technology.
Joost Bonsen
Lecturer at MIT Media Lab & Founding Research Fellow, Joost is an
innovation ecologist studying and enabling both global ties and
extraordinary effectiveness at all scales of action that matter, from
invention in exploratory research labs and venturing in entrepreneurial
startups all the way through orchestration of innovation ecologies
regionally and globally.

ORIENTATION MODULE:
WELCOME TO THE VIRTUAL LEARNING
ENVIRONMENT
• Get to grips with your new online classroom.
• Meet your Course Teaching Team and get to
know your fellow classmates.
MODULE 1:
INTRODUCTION TO Fintech
• Understand the current state of the four
thematic areas in the fintech ecosystem:
Infrastructure (identity, privacy, security);
money and payments; markets, and
marketplaces.
• Identify the trends and opportunities shaping
the fintech ecosystem.
• Explore how trends in fintech innovation
might influence the near and long-term
futures of various industries.
MODULE 2:
FRAMING AND PITCHING YOUR IDEA
• Apply strategic narrative to tell a story that
inspires change and shifts opinion.
• Learn the best practices for innovation and
problem-solving through intrapreneurship
and entrepreneurship.
• Present a 60-second elevator pitch of an
original idea to solve a problem through a
fintech innovation (based on one of three
project types).
MODULE 3:
DISRUPTIVE BUSINESS SOLUTIONS
• Learn how traditional business models are
being impacted by disruptive technology.
• Explore how specific applications of
disruptive technologies are impacting
financial institutions, customers,
governments and merchants across a wide
range of industries.
• Understand how the application of
blockchain technology is impacting money
and payments.
• Learn about the impact of fintech
innovations within markets and
marketplaces.
What you will learn on this course
Find out more about the learning outcomes you will achieve as you progress through
the 12 modules of this course:
Over and above your MIT instructors, you’ll also hear from leading minds in the field (in
the form of guest lectures), and engage with your course material and fellow students
via tutor-led, intensive small groups and your online discussion forum. You’ll also receive
support from a dedicated Performance Coach to keep you on track with your studies.

MODULE 4:
COMPETITIVE DYNAMICS
• Discover the tools, processes and techniques
of different approaches to competitive
analysis.
• Map out the primary competitors that
influence the fintech landscape.
• Analyse the competitive strategies of the
dominant roleplayers in fintech innovation,
and the trends affecting them.
MODULE 5:
FINANCIAL, ECONOMIC AND
REGULATORY FRAMEWORKS
• Review the principles and best practices
related to cost, revenue, scalability and
financial modeling.
• Compare different financial models to best
represent a particular fintech venture, and
the associated economic considerations.
• Identify key regulatory challenges that impact
the fintech industry, and explore ways of
solving these.
MODULE 6:
SELLING YOUR IDEA TO INSPIRE
ACTION
• Apply advanced strategic narrative
techniques to refine your elevator pitch for a
venture capital audience.
• Gain insight into the future of the fintech
industry and what successful fintech
ventures might achieve over the next 20
years.
Over the course of Modules 7, 8 and 9, students will follow
one of three unique learning paths. These learning paths will
be based on the type of capstone project that groups are
working on, namely crafting an innovation roadmap, writing
a business plan or designing a prototype.
MODULE 7:
CAPSTONE PROJECT: STRATEGIC
ANALYSIS
• Innovation Roadmap: Compile a big picture
analysis of the industry trends in fintech
innovation.
• Business plan: Show how your business
model innovation will create value in a
chosen fintech industry.
• Prototype: Create a problem-solution
statement for your prototype demo.
MODULE 8:
CAPSTONE PROJECT: COMPETITIVE
ANALYSIS
• Innovation Roadmap: Analyse fintech
competitors to formulate a theory of change
that would catapult a company to a market-
leading position.
• Business plan: Compile a competitive
analysis, comparing the current major
participants and dominant drivers in a
particular market.
• Prototype: Conduct a feature-wise analysis of
the product or solution versus key competitors.
MODULE 9:
CAPSTONE PROJECT: MARKET
FORECASTING, FINANCIAL
MODELING AND UNIT ECONOMICS
• Innovation Roadmap: Compare fintech
industry participants in terms of total
demand and relative market share and
propose a Fintech adoption curve.

• Business plan: Create a financial model for a
business plan or business case, delineating
key assumptions of revenue and cost.
• Prototype: Create a unit economics model
that represents the plan for scaling your
fintech innovation venture.
MODULE 10:
CONSOLIDATING YOUR CAPSTONE
PROJECT
• Explore the elements that have contributed
to successful pitches for different contexts
in history.
• Learn about the features that characterise
customer-facing and venture-facing explainer
videos.
• Submit a three-minute explainer video and
written report of your or your group’s fintech
venture.
MODULE 11:
FUTURE DIRECTIONS
• Explore what trends in the field of fintech
will have the most significant impact on the
future.
• Debate ways in which fintech innovations
can have an impact on greater society and
inspire positive change.
MODULE 12:
WRAP UP AND AWARDS
• Reflect on the online learning journey with
your instructors and fellow classmates.
• Celebrate the award-winning pitches and
network for the future.
“There has been an explosion of investment in the fintech industry, and a disruption of the
major business models in several segments, ranging from commercial investment banking,
to insurance, to money transfer. In the last four years, venture capital investment in fintech
has increased more than 600%. You need to understand what’s going on in this highly chaotic
environment. And we can help.”
― DAVE SHRIER: MANAGING DIRECTOR OF CONNECTION SCIENCE AT MIT

Who should take this course?
Senior management, executive associates or directors within the financial services,
banking, and insurance sectors, as well as those working in ecommerce, management
consulting, or within a tech startup. Specific roles that would benefit include: tech
entrepreneurs, senior business directors, managing directors (specifically CIOs and
COOs), senior analysts, senior developers, business unit directors, product managers,
senior software or app developers, business development managers, finance
professionals, and digital strategists operating in the finance sector. General business
managers and other professionals seeking to enter the finance industry would also
benefit from this course.
What is MIT Experimental Learning?
MIT Experimental Learning (MIT XL) is a new program within MIT’s School of Architecture
+ Planning (home of the world famous MIT Media Lab). MIT XL is dedicated to providing
actionable insights and hands-on capabilities enhancement for the working professional,
incorporating MIT’s latest thinking on computational social science and applied cognitive
science to enhance the learning experience. Drawing from MIT’s rich resources in
innovation, technology research, design thinking, and systems thinking, MIT XL seeks to
deliver a world-class learning experience to a global community. MIT XL incorporates
tools and content from MIT Connection Science, a research-led initiative that uses data/
analytics to build better organizations and better societies.
Who is GetSmarter?
GetSmarter is an online education company that collaborates with top-tier Universities
to present career-focused online short courses. Their people-driven approach to
online learning has resulted in an average course completion rate of over 90% across a
portfolio of over 60 university-approved short courses, over 8 years.

How you’ll learn
Every course is broken down into manageable, weekly modules, designed to
accelerate your learning process through diverse learning activities:
Work through your instructional material online
Collaborate with your classmates on your projects via the discussion forum and
online hangouts.
Enjoy a wide range of interactive content, including video lectures, live polls,
scenario simulations, and more.
Investigate current, real-world case studies presented by leading Fintech industry
experts like Chris Larsen (CEO, Ripple), Valery Vavilov, CEO BitFury, Philip Evans,
Senior Advisor, Boston Consulting Group, and more.
Apply what you learn each week in quiz assessments, collaborate activities, and
capstone project group work.

Call: +1 224 249 3522 | Email: getsmarteronline@mit.edu
Contact us
REGISTER NOW
MASSACHUSETTS INSTITUTE OF TECHNOLOGY
Fintech certificate course:
Future Commerce
Massachusetts InstituteofTechnology |SchoolofArchitecture+Planning

MIT Fintech / Commerce Certificate Program

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