ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title Digital Banking and Global Payment Systems
Code ACFI828
Coordinator Mr GS Brown
Finance and Accounting
Gavin.Brown2@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2021-22 Level 7 FHEQ Second Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 12

 6

       12

6

 36
Timetable (if known) 60 mins X 1 totaling 12
  		60 mins X 1 totaling 6
  		      60 mins X 1 totaling 12
60 mins X 1 totaling 6
  		 
Private Study 114
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
             
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Individual report Reassessment opportunity: Yes Penalty for late submission: Standard UoL penalty applies Anonymous assessment: Yes  -2000 words    70       
Individual essay Reassessment opportunity: Yes Penalty for late submission: Standard UoL penalty applies Anonymous assessment: Yes  -1000 words    30       

Aims

This module aims to:

Provide students with an advanced understanding of the evolution of banking and the payments industry. Never before in human history has this space experienced such a pace of technologically enabled change.

Build students' transferrable skills by concentrating on aspects of banking and payments business level strategy. In particular, establishing theoretical and empirical disruption from the study of contemporary global case studies.

Prepare students for a career in banking or financial services, be that within industry or academia.

Learning Outcomes

(LO1) Students will be able to evaluate competing forms of banking with particular regard for the differences between traditional banking, challenger/ digital banks and neo banks.

(LO2) Students will be able to predict possible future scenarios for existing banking and payment intermediary companies and how their respective business models are being disrupted today, and will likely need to change going forward.

(LO3) Students will be able to compare emerging trends in banking and payments.

(LO4) Students will be able to determine the viability of potential strategies employed by both banks and payment intermediaries.

(LO5) Students will be able to estimate the potential future impact of disruptive technologies – both upside and downside.

(S1) Ethical Awareness.
Students will analyse the need for transparent but value-adding financial services for a well functioning society and broader economy. Students will also develop an understanding of the importance of CSR and good corporate citizenship from the providers of our financial services, but at the same time appreciate that the majority of such firms are firm-profit in orientation.

(S2) Problem solving.
Students will develop skills in evaluating the limits of financial technology and how technology enabled novel approaches to banking and global payments can (and will) disrupt incumbent industries, within regulatory and legal limits.

(S3) Numeracy.
Students will develop their understanding of competing business model pricing and cost strategies in the context of broader viable business models.

(S4) International commercial awareness.
Students will develop an understanding of the interrelationships between banks, payment intermediaries, central banks, tax authorities and governments in the context of the movement towards both digital and open banking. A multitude of global case studies will be used to contrast competing structures and business models.

(S5) Communication skills.
Students will be required to make clear, concise arguments in the two summative assessments.

(S6) IT skills.
The nature of the two summative assessments will require students to undertake independent, desk-based research.

(S7) Organisation skills.
Students will need to be organised throughout the duration of the module in order to prepare the required readings ahead of lectures and seminars and in preparation for the two assignments.

Teaching and Learning Strategies

Hybrid delivery, with social distancing on campus.

1 hour online asynchronous learning per week x 12 weeks
1 hour face-to-face synchronous lecture per week x 12 weeks
1 hour face-to-face seminar every other week x 6 weeks
1 hour face-to-face peer-to-peer learning every other week (unscheduled) x 6 weeks
Self-directed learning x 114 hours

Outside of the classroom, students will be expected to engage in wider reading in the form of journals, books and recordings as directed by the module leader. The framework/ scaffolding for such learning will be provided on the VLE by the module leader.

HiPy and other peer-to-peer learning platforms may be adopted where relevant in the pedagogic strategy of this module delivery.

Syllabus
 

The history and principles of money and banking;

M-commerce and the global payments industry;

Open banking, payments and app-based business models;

Digital corporate banks: predictions and implications;

Financial services and new identity management technology;

Neo banks and the future of banking;

Regulatory trends in banking and payments (e.g. PSD2 & PSD3);

COVID-19 and the financial services industry: pandemic proofing;

Financial risk management and Black Swans in banking & payments;

The fusion of banking, payments and social media: hyperpersonalisation;

The role of A.I. in banking and global payments;

The Bank 4.0 and beyond digital banking: What’s next?

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.