Finance and Fintech

Disrupting the financial world

The Master in Finance and Fintech aims to enable young professionals to deal with the digital transformation that is disruptively changing the financial market, by combining traditional financial skills with deep understanding of new digital technologies. The new emerging technologies such as blockchain, artificial intelligence and big data analytics are deeply modifying the landscape of the financial market, creating immense opportunities for incumbent players but also serious threats from innovative start-ups.

The use of new technologies for financial applications has become vital for banking and insurance companies, which must acquire a thorough understanding of these tools to continue competing in the changing world. Peer-to-peer lending, mobile payments and Insurtech are not futurist trends, but factual reality. To seize the opportunities and face the challenges offered by the digital era, the Master in Fintech trains young professionals to act as a link between the management and the computer scientists, taking part in the development of new digital financial businesses.

Thanks to Bologna Business School’s numerous collaborations with leading players in the digital sector, these new generation of managers, equally grounded on financial competencies and on new technologies, will be able to anticipate, intercept, and exploit the new trends in the financial industry. The explosion of digital technologies in the financial markets has generated an enormous need for figures at ease both with traditional financial competencies, as well as in translating them in new digital solutions and applications. Students are offered an innovative cross-sector didactical approach, capable of granting them a strong competitive advantage, while responding to a new need of the market.

The Master in Fintech is designed for graduate students with excellent knowledge of English, interested in the financial technology sector (“fintech”), as they will learn along with the traditional finance skills, new competencies in new technologies such as AI, big data analytics, blockchain, with the prospect of professional growth in managerial functions connecting technical specialists and finance departments. The program, which is entirely in English, includes two classroom-based terms and concludes with a final internship of 500 hours.

Thanks to the innovative technologies of BBS you can follow the master online as well.

Programme Advisory Committee:

  • Renzo Avesani – Chief Innovation Officer, Unipol Group
  • Davide Caramico – Director Partnership Financial Institution, Western Union
  • Alessandra Caroni – Senior Economic Adviser, Her Majesty’s Treasury
  • Apoorva Anand Srikkanth – Innovation & Growth Specialist, Innovate UK EDGE London
  • Paolo Gianturco – Senior Partner, Business Operations & FinTech Leader, Deloitte Italia
  • Carlo Giugovaz – Chief Executive Officer, Supernovae Labs
  • Federico Sforza – Chief Executive Officer & Co-Founder, Aidexa

Emanuele Bajo

Emanuele Bajo

Director of Studies
emanuele.bajo@unibo.it

" The technological innovation will profoundly change the structure of the financial market and only through the deep understanding of the digital technological innovations will be possible to survive and compete with new business modes. Today the market players, banks and insurance companies have a huge advantage of position and protection which is provided by the rules system. However, the speed of change can risk the survival of profitable business areas. "

CLASS PROFILE A.Y. 2020/2021

GEOGRAPHICAL ORIGIN

ACADEMIC BACKGROUND

PROFESSIONAL BACKGROUND

  • 28 y.o.

    AVERAGE AGE

  • 64%

    INTERNATIONAL STUDENTS

  • 8

    COUNTRIES REPRESENTED

  • 7%

    FEMALE STUDENTS

  • 2 years

    AVERAGE WORK EXPERIENCE

Structure

The Master in Finance and Fintechis a 12-month full-time program including an internship or project work (total length: 1500 working hours).

The academic part is divided into two terms. You will cover 1000 hours of study: 400 hours of classroom activities and 600 hours of individual/group work. The Master offers a series of pre-courses at the start of the academic schedule:DBMS Systems and SQL language, Exploratory data analysis, Principles of programming (Python language)

  • First term: November 2021 – March 2022
  • Second term: March 2022 – June 2022
  • Internship: June 2022 – November 2022
    • Practical Experience
    • Final Project

The two terms are followed by an internship period of 500 working hours. This internship can be carried out at various companies and agencies in Italy or abroad. You are expected to make the most of these opportunities by learning from the professionals you will be working with.

At the end of the internship you will be required to hand in a ‘Final Report’, which you will present to the Director of Studies showcasing your activities and analyzing the theories and lessons learned during the academic part.

Students who are interested can also choose to take an extracurricular course of Italian.

COURSES

The role of IT into banking industry is dramatic and innovative at the same time. Banking business models are redesigning by new paradigms: they will impact to strategies and operational perspectives.  Banking players need to be into the new picture, supported by new toolkit able to combine the current landscape with new technologies.

Last but not least, ITC firms, media networks, and Big techs companies are the new entrants into financial services arena. FinTech emerging applications are disruptive forces capable to transforming the financial services industry by making transactions faster, cheaper, more secure and transparent. Our banking course delivers a general framework of financial industry and provide some specific knowledge into the disruptive innovation in terms of organization/processes/infrastructures/applications.

Torluccio Giuseppe

This course provides an alternative approach to the study of financial markets: behavioral finance. This approach starts with an observation that the assumptions of investor rationality are overwhelmingly contradicted by both psychological research and empirical evidence. The course gives an introduction into this field and includes results from behavioral finance that help to understand many puzzles in traditional finance. The psychology of dealing with automated financial counterparts/advisors as opposed to humans will also be discussed.

The digital revolution has led to an explosion in the amount of available data and information (Big Data), the ability to analyze and correlate this information is becoming a fundamental element to an enterprise’s competitiveness and a new source of economic value and innovation. Big Data, however, is unable to be managed properly by using traditional instruments of Information Technologies because of their size, their heterogeneity and their many peculiarities. For this reason, new architectures, methodologies and tools are being created for data scientists to transform this data into value for the company and to support the decision-making process. This course will analyze the various types of data available, technical access to information, methods to handle them and the architectures and tools to store and process them.

Ravaldi Federico

The course discusses some relevant themes related to blockchain technologies, cryptocurrencies, ICOs, smart contracts and novel applications that can be built over the blockchain. Bitcoin and novel cryptocurrencies gathered momentum in the last months. More and more investors look with interest at these technologies, while others label them as a dangerous speculative bubble. The truth is that the blockchain, and the alternative implementations of a distributed ledger, represent very innovative technologies, that can be exploited to build novel distributed applications. Moreover, the possibility of creating smart contracts, running on top of the blockchain, permits trusted interactions and agreements among different (and possibly anonymous) parties, without the need for a central authority. This course will illustrate the main principles and conceptual foundations of the blockchain and smart contracts.

Ferretti Stefano

Over the last decade sustainability and corporate social responsibility (CSR) practices have become paramount for companies as well as for the society at large. Although most companies have developed sustainability programs over the years, as they are cutting carbon emissions, reducing waste, and otherwise enhancing operational efficiency, we are witnessing a mishmash of sustainability tactics that does not add up to a sustainable strategy. To endure, a sustainable strategy has to cope with the competing – and apparently divergent – interests of all stakeholders: investors, employees, customers, governments, NGOs, society and the natural environment.

The purpose of this course is to initiate a debate around the role and functioning of modern corporations as sustainability challenges, opportunities and solutions emerge. In particular, the objective of the course is to detail and disentangle the links between sustainability, CSR and the key role that digital technologies can play as a mean to translate sustainable strategies into effective outcomes.

Within this perspective, three major learning outcomes are expected:

  • To allow students to gain a solid and robust understanding of what sustainability and corporate social responsibility mean in a business context;
  • To allow students to understand key approaches and frameworks for measuring and reporting sustainability and CSR in organizations;
  • To gain an understanding of what sustainability oriented innovation means and how it can be applied to a digital organizational context.

In order to achieve these objectives the course will combine (i) case studies and whole class discussion; (ii) talks by business leaders and managers dealing with sustainability issues; (iii) lectures.

Mura Matteo

Models and methods for knowledge extraction from databases. Study of different types of data and methods of pre-treatment. The functions of Data Mining. Supervised and unsupervised learning. Algorithms and methods for constructing classification models. Clustering algorithms. Algorithms for discovering association rules. Methods for evaluating the quality of data mining results. Data mining laboratory in order to apply the studied methods.

 

Sartori Claudio

The digitization of the economy is one of the most relevant issues of our time. The objective of this course is to analyze how digital economy has fundamentally challenged traditional business models and created new business opportunities. We will start with a brief introduction of the digital economy and then analyze the specific business strategies adopted by the different players in this ecosystem, specifically platforms. We will also discuss the implications for public policy and regulation. In particular, we will consider whether new business practices and contracts in the digital economy are beneficial or detrimental to society. Real case studies related to Amazon, Airbnb, Booking.com, Facebook, Google, Uber, and others, will be analyzed.

Andrea Mantovani

The course focuses on the finance aspects following the life cycle of young and innovative ventures from their start-up. These young ventures usually require substantial outside financing in early stages to eventually create employment, growth, social contributions and tax revenues in their future. Bank financing is hardly available for these ventures and therefore, all funds need to be raised from other sources, e.g. friends and family, business angels, or from professional financial intermediaries, so-called venture capital and private equity funds. Besides those traditional channels, ventures can raise funds from “the crowd” using digital platforms (crowdfunding) or blockchain-based technologies (ICOs).

Groh Alexander

This course will provide students with an overview of financial markets and the valuation of securities. The course will start presenting the financial system and a taxonomy of the type of securities traded in financial markets. The single asset classes will be then studied, including fixed-income and money market securities, equity instruments, mutual funds, financial derivatives, and hybrids.

Stefano Bonini

Since the first mechanical automations of the 17th century, one of the great dreams of the humanity has been the construction of machines exhibiting human behaviors and intelligence. Artificial intelligence (AI) is a discipline whose goal is to realize this dream by using the most different techniques, from symbolic computation based on logic to sub-symbolic models inspired by the structure of the brain, such as neural networks.

The last few years have witnessed a sensational exploit of AI applications in many different fields – with a relevant growth of investments – inducing many experts to believe that the dream will come true in a short time.

This is inducing many companies to reconsider their business strategies and, more generally, requires a deep rethinking of several crucial aspects of our society.

The course will provide an introductory overview of the various existing AI techniques, focusing on their industrial applications, discussing future opportunities and challenges, touching also on some social, economic and ethic implications.

Gabbrielli Maurizio
Roberto Amadini

It’s undeniable that mankind strive to build unbreakable systems, even if human history has demonstrated so far that this is nothing more than a myth. The real world is mainly made of fragile systems, so that reality is much different from the expectations.

The goal of this course is to provide a basic knowledge concerning the main concepts and principles of computer security (e.g. risk, tools for risk assessment and evaluation, attacks and their typical structure, resources, functional systems requirements, human component). In this way, the course will provide the basic tools for the design and implementation of reasonably secure systems. During this process, either methodological, technological and behavioral (i.e. operation security) aspects will be considered.

After the course, the students should be able to critically evaluate the security of a (computer) system considering both the system as a whole and its main separated components (e.g. authentication and authorization mechanisms and procedures). They will also be able to find the main vulnerabilities of such a system and to identify the more appropriate countermeasures to allow the mitigation of vulnerabilities and reduce the risk to an acceptable level.

The goals described above will be obtained not only by teaching some of the main theoretical aspects of computer security but also by describing and discussing many real world examples in detail.

The approach and the tools learned during this course are prerequisites for the following “Cryptographic Protocols” and “Computer, Network and Cloud Security” courses.

D’Angelo Gabriele

This course aims at presenting the new emerging trends in the financial industries. Peer-to-peer lending, mobile payments, blockchain-based trading and the impact of new technologies on insurance and regulation are some of the topics that will be discussed through a case-based approach presented by fintech industry leaders.

Paolo Gianturco
The course analyzes the legal framework of the rights of the person when dealing with technology, the protection of personal data, the intersection between person and market in the face of technological platforms and big data, the normative references of GDPR, Digital Service Act and other legal formats with a global vocation. Attention will be paid to the ethical challenge underlying the balance between human intervention and artificial intelligence, to the comparison between legal language and algorithms from the applicability of models to the role of law and regulation in the face of technological change and to the governance and risk management of data.
Some insights concern automated decisions, profiling in the credit and in the insurance sector and the coexistence between incumbents and new entrants in the financial sector.
Manes Paola

The goal of the course unit is to present theoretical and practical aspects of text mining regarding text classification and sentiment analysis & opinion mining.

The learning outcomes are the capability acquisition of cooping with problems of text classification and sentiment analysis & opinion mining

Moro Gianluca

The course deals with financial risk management with an emphasis on the recognition of price risk and on financial risk management tools from the point of view of the company. A significant part of the course is dedicated to the analysis of derivatives and their use in risk management.

Bajo Emanuele

The course provides an overview on the Machine learning field, with a particular emphasis on
symbolic learning techniques (sub symbolic techniques will be covered by the course on Neural Networks).

The main learning problems and paradigms will be introduced along with examples explaining how to
use the learned models into decision support systems.

Application areas that will be covered have industrial impact in fields as automotive, energy management,
predictive maintenance and policy making.
The course will cover both lectures and hands-on sessions.

Stefano Pio Zingaro

The new priorities of marketing management: the marketing metrics and dashboard indicators of marketing.  From the value for the customer to the value of the customer: customer value, satisfaction, loyalty and customer equity. Analysis, measurement and management. Customer Relationship Management: acting on acquisition, retention and development. Big Data and Customer Insight Management. Customer insights and Big Data for improving marketing decisions and management. Marketing Modeling and Marketing Analytics.

Konus Umut

This course provides students with a deep understanding of the following topics: the reference model. The analytics for understanding the pattern and the business dynamics of an enterprise. Business process analytics, market, custodian and supply chain analytics; analytics of competitors. Financial cost and revenues analytics. The use of business analytics in the design of systems for measuring the company’s performance.

This course explores the following topics; Univariate analysis: Distributions of quantitative and qualitative traits. Summary indicators: average values and variability indices. Data transformations. Graphical representations. Association between variables: Connection, covariance, correlation. The linear regression model. Elements of probability calculation: Probability (Binomial, Poisson, Normal). Signals of statistical inference: confidence intervals and hypothesis testing. Analysis of multidimensional data: Matrices of data, variance and covariance, correlation and dissimilarity. Laboratory exercises with dedicated software.

Camillo Furio
Mignani Stefania

Neural networks are a class of machine learning algorithms, originally inspired by the brain, structured in layers of interconnected artificial neurons.

The network can be trained on data to optimize its connections to a specific task.

 

Deep neural networks, that is networks with multiple internal (so called hidden) layers, have recently seen a lot of success at practical applications. They’re at the heart of production systems at companies like Google and Facebook for image classification, speech recognition, natural language processing, language understanding or robotics.

 

The course gives an overview of the foundational ideas and the recent advances in neural nets, explaining the potentialities of the topic for practical purposes. We shall cover supervised and unsupervised techniques, methods for visualizing and understanding the behavior on neural nets, as well as adversarial techniques to fool them. We shall also hints to recent applications in the field of reinforcement learning, and some amazing results in game simulation. 

Asperti Andrea

The course is focused on understanding of the opportunities arisen from digital transformation, in terms of innovative business models for companies and new value for users. Specifically, the course will deepen technology forecasting and technology roadmapping methodologies, applied to emerging digital trends, focusing on Fintech, IoT and Artificial Intelligence.

Chierchia Lucia

Learning approach

The main aim of our teaching staff is to first lay down a solid grounding of theory and then to build on this foundation by introducing more practical aspects. This method will result in you confidently entering the work environment of this industry, ready to deal with any scenario you will face.

The teaching staff will help you grasp these concepts and techniques through the use of lectures and seminars; group projects and company visits; guest speakers and case studies; videos and presentations; as well as individual assignments and assisted private studying.

The courses are structured to give the maximum freedom to learn to the students and allow the professors to teach and assess the students in the best way possible. Assessments can take the form of individual/group presentations, projects, oral and written exams as well as, of course, class participation.

CAREER DEVELOPMENT

The integration with companies is a priority and an ever-present feature of all programs of the Bologna Business School, hence for the Master in Finance and Fintech too.

The School is fully committed to creating employability, by way of a systematic career service action, constantly focused on matching at best the students’ professional projects with the needs companies have.

The internship is an exceptional springboard, suffice it to say that six months after the end of the full-time masters at Bologna Business School on average 91% of students work in a company.

The BBS Career Service assists and supports students since the very beginning, along a training and professional development path. This is accomplished by organizing a series of workshops, with the aim of providing the fundamental tools and resources to be appropriately prepared for the labor market.

To achieve this goal, students are involved in several workshops, among which we may list:

  • Writing a CV and a Cover Letter
  • How to create an effective Linkedin profile
  • How to prepare for a job interview

 

In addition to this, thanks to the collaboration with professional career counselors, students receive a customized service, in order to understand their strengths and to build a professional development plan, which will turn out to be helpful when looking for an internship. Here follow some of the activities:

  • Initial guidance interviews
  • Specific interviews, focused on one’s own career plan
  • Continuous support to students with one – to – one sessions

 

Technology has become an integral part of finance, transforming it into fertile ground for curious minds, problem solvers and strategists. It calls out entrepreneurs and intrapreneurs who thrive tackling cross-functional problems. Programs like BBS Master in Finance and Fintech can help in developing adaptable skills to navigate the digital, rapidly evolving world of finance.

Reeta Hemmenki BN

Reeta Hemminki, Senior Analyst, Credit Data Research

 

There are many Fintech companies out there looking for people like you, so don’t be afraid to approach them. Experience is not so relevant, it’s about the willingness to learn, the passion to make a difference, the desire to build the future instead of revisiting the past or sitting on your laurels.

Reeta Hemmenki BN

Candice Koo, Co-founder and MD, CANCAN Global payments and promotions

P

Alumni

Federico Costa – Italy

Operations Model Transformation, Deloitte
Master in Finance and Fintech (A.Y. 2019/2020)

"The Master in Finance and Fintech provides you with managerial skills, complete and exhaustive knowledge of the financial world, and, through workshops and group works, provides excellent technical skills in data analysis. When you join the BBS you are aware that you are going beyond mere specialized university training. You become part of an international community made up of prepared and ambitious people. Based on the results obtained, I can certainly ensure that the Master in Finance and Fintech was a fundamental investment for my personal and professional growth. "

Edoardo Yien – Italy

Business Analyst, Deloitte
Master in Finance and Fintech (A.Y. 2019/2020)

"With a passion for Finance and its implementation, the master in Finance & Fintech opened me the eyes to the expertise of technical concepts and tools such as Ai and Big Data that can be employed in the Finance industry. All the different cultures in the course, the totality of experts of the sector and the well-known job network that the course offers have been a spur to enrol. In fact, right after the end of the classes, I received a job offer to work in the Fintech Team of a big company. I can’t wait to have the opportunity inside the company to follow fintech related projects and it’s just thank to BBS that all of this was made possible."

Ala Younes – Libya

Business Analyst, CRIF
Master in Finance and Fintech (A.Y. 2019/2020)

"Having the interest in both pure finance and emerging technologies I found the master in Finance and Fintech the right fit in order to have a solid knowledge of each separate and combined. Supervised workshops and study groups guided by highly qualified community members allow students to acquire fundamental academic and professional skills. Being in such wide international community helps students to quickly be recognised and receive job offers from various leading companies in both financial and technological sectors."

Wiktor Oleksy – Poland

Business Analyst, CRIF
Master in Finance and Fintech (A.Y. 2019/2020)

"It is difficult to quantify the range of challenges that I have experienced and completed during the Master in Finance and Fintech. When I was signing up for this specialized course I had a certain idea of financial technology concepts, but only after finishing the Master I faced a reality check, and understood how broad the Fintech world is. I also learnt how interconnected it is with other scientific areas and phenomena. Learning that, and also thanks to the BBS career network, I was able to find an internship and then work full time at an Italian company in the industry. "

COMPANIES

The goal of the Career Service is also to allow students to connect with national and international companies. Over the years, Bologna Business School has managed to establish a wide-ranging network and a sound partnership with leading companies in Italy, thanks to a personalized approach, based on each company’s needs. The collaboration features the following activities:

  • Sending the CV book
  • Sharing internship and work opportunities
  • Presentations at the School premises
  • Career Day
  • Implementation of project works
  • Class-room activities with case studies presented by managers and/or HR professionalsOur partners are the foremost supporters of our students, with the provision of scholarships, internships and professional opportunities.

ACCENTURE AMPLIFON BAKER HUGHES BEIERSDORF BNL BPM CAPGEMINI CRIF DELOITTE GELLIFY BANCA INTESA SANPAOLO KELLY SERVICES KERING PIRELLI SCS CONSULTING SIDEL SUPERNOVAE LABS TEAM SYSTEM TESLA UNICREDIT

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FEES

The tuition fees for the Master is 14,800 euro (VAT free) to be paid in three installments:

  • First installment: 1,850 euros
  • Second installment: 7,000 euros
  • Third installment: 5,950 euros

The fee includes participation in the Master, all the study material available through the online platform, and access to the services and facilities of Bologna Business School such as: personal account for the Alma wi-fi, use of the PCs in the Computer Lab, access to the study areas, access to the internal gym, special rates for the School restaurant. Furthermore, the fee gives participants the right to take advantage of the supporting activities of the School, such as the language courses and the master lectures by invitation. Free parking is also available within BBS Campus.

Additionally, with the Student Card of the University of Bologna, students have access to all of the university facilities, including over 100 libraries, digital resources and study halls (including databases and online subscriptions); the three city center canteens and all university student related discount offers. More information is available on the site of the University of Bologna: http://www.unibo.it/it/servizi-e-opportunita

HONOR LOAN

Participants are eligible to apply for Honor Loan with subsidised rate up to the complete coverage of the application fee.
For more information please mail to fintech@bbs.unibo.it

SCHOLARSHIPS

At Bologna Business School we understand the importance of financial aid in supporting our students to achieve their educational goals. We are aware that an advanced, high quality training path can be a significant commitment, at the same time we also truly believe that investing in one’s future always pays back.

Bologna Business School is pleased to offer partial scholarships. All of these scholarships are merit-based and will be awarded to the top-ranked candidates in the selection process. The students who come out on top in the selections will be students who not only come from strong academic or practical backgrounds but also those who display the strongest motivation to take part in this program.

There are scholarships of 4.000 euros and  scholarships of 6.000 euros. All applicants will be considered for a scholarship – no specific application is required. They are awarded over the course of every round of selection and if you have performed well enough to merit one of them, you will be informed at the moment of admission.

The scholarships act as tuition waivers, so that they result in a deduction of the total amount of the tuition fees due.

INPS

The Italian National Security Institute (INPS) supports students attending I and II level Master’s Degrees with a public announcement and related scholarships of a maximum of 10.000.

The scholarships are for sons and daughters of both INPS members and deceased INPS members.

You can check the requirements to apply to the scholarships on the INPS portal.

REQUIREMENTS

In order to be admitted to the Master’s course you must have:

  • Bachelor’s degree (obtained within the closing date of enrollment of the selection round in which you participate)
  • Excellent level of English

The admission to the Master is subject to the positive evaluation of the selection tests in line with the number of places available. The selection tests consist of a motivational interview in English and a logic test in English.

 

APPLICATION PROCESS

  1. Register on “Studenti Online” by connecting to the site studenti.unibo.it
    2. Select “First Level Master”.
    3. Pay the participation fee for the selection (60 euro for each Master)
    4. Upload the required documents online:

– Curriculum Vitae in English
– Motivational letter in English
– Letters of reference in English (optional)
– Photograph of recognition
For degrees obtained in Italy: Self-certification of Bachelor’s degree with details of exams taken and relative grades
For degrees obtained abroad: Dichiarazione di Valore (to be requested at the Italian Embassy in the country where the degree was obtained) or Diploma Supplement (to be requested at the university where the degree was obtained). In the event that the candidate is unable to obtain the Dichiarazione di Valore or Diploma Supplement at the time of enrollment, he/she may temporarily replace it with a Conditional Enrollment Form, which will be sent after enrollment by fintech@bbs.unibo.it

For further guidance, students who obtained a bachelor’s degree abroad are encouraged to check the page below: https://www.unibo.it/en/teaching/enrolment-transfer-and-final-examination/declaration-of-value-translation-and-legalization

For further guidance, we advise all students to read carefully the instructions indicated in the “call for applicants” and “operating instructions” files downloadable below and to click here to get access to a video tutorial containing instructions on how to apply for selections.

Call for Applications 2021-2022 Introduction to apply for the Selection

Faculty

Faculty members at Bologna Business School work together offering outstanding teaching standards. An international and interdisciplinary approach is guaranteed by a joint team of distinguished national core professors, adjunct, visiting professors, guest speakers and top managers.

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