Fintech: IoT and APIs in the Financial Industry from edX

This is the fourth and last in a series of courses on financial technology, also called Fintech. This course provides an overview of the technology of payments, API, and in general Internet of Things.

The course is structured into four main modules.

In the first one, we will learn how IoT devices and application programming interfaces (or APIs) are used in finance. APIs are becoming essential instruments in finance and most other industries, and API-based fintech firms are very popular nowadays. We will also discuss how APIs will revolutionize banking services through “open banking”. Finally, we will learn the standards used by financial institutions around the world to communicate with each other.
The second module will focus on insurtech, the use of technology in the insurance industry.
The third module will survey the payment industry, from the way payments are encrypted, processed, and settled.
The fourth and final module will wrap up the course, and the entire fintech certificate. It will also provide a discussion of the future of fintech.

APIs and IoT are already a critical component of the backbone of the financial sector. Understanding the role they play is essential for any finance or tech manager, or student.

Financial professionals are often required or encouraged to continue their education to practice their profession. For some associations, this program may be used for Continuing Education Credits. Please check with your local or national organization if the program qualifies.

What's inside

Learning objectives

How apis work, and how they are transforming the modern financial system, from open banking to api-based apps.
The inefficiencies of the current payment system, and how fintech firms are trying to change the world.
How iot devices will change the insurance industry.

The future of fintech
After you complete this course, you will walk out with a good grasp of the plumbing of the financial sector, and how new technological innovations like insurtech, apis, and open banking will reshape the financial sector in the future. you will learn:

How apis work, and how they are transforming the modern financial system, from open banking to api-based apps.
The inefficiencies of the current payment system, and how fintech firms are trying to change the world.
How iot devices will change the insurance industry.
The future of fintech
After you complete this course, you will walk out with a good grasp of the plumbing of the financial sector, and how new technological innovations like insurtech, apis, and open banking will reshape the financial sector in the future. you will learn:

Syllabus

Week 1: IoT and Finance

- Internet of Things

- APIs and Finance

- Open Banking

- Insurtech

Week 2: Payments

- Mobile Payments

- Payment Processing

- Payment Encryption

- Financial system communication

- Cross-border payments

Week 3: The future of Fintech

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Concepts explored in this course include Internet of Things devices and their applications in finance, APIs in finance, open banking, and more

In today's financial sector, APIs and the Internet of Things are integral components. To fully grasp the inner workings of the sector, understanding their roles is critical for finance and tech managers and students

Understanding the workings of modern financial systems, from the transformation brought by open banking to API-based financial apps, is one of the key takeaways from this course

This course delves into the impact of technological advancements on the insurance industry, an aspect that is reshaping the industry landscape

Equips learners with the knowledge to comprehend the inefficiencies of existing payment systems and the innovative solutions brought forth by fintech firms to address these issues

Staying updated in the financial field is often a requirement or an encouraged practice. This course may serve as a source of Continuing Education Credits for some associations

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Fintech: IoT and APIs in the Financial Industry with these activities:

Gather course materials

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Pull together currently available course materials to enhance understanding

Browse courses on Financial Technology

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Visit the course website and download the syllabus.
Set up a dedicated folder on your computer for course materials.
Print out any essential readings or handouts.

Review key concepts of finance

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Review the basics of finance to ensure a solid foundation for understanding APIs, IoT, and other fintech concepts.

Browse courses on Finance Fundamentals

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Review textbook chapters or online resources on finance fundamentals.
Solve practice problems or take quizzes to test your understanding.

Insurtech Overview Tutorial

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Gain practical knowledge of the intersection between insurance and technology

Browse courses on InsurTech

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Find a tutorial that provides an overview of insurtech.
Go through the tutorial and take notes.
Complete any exercises or activities that are included in the tutorial.

Five other activities

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Show all eight activities

IoT Basics Tutorial

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Build up a foundation by reviewing fundamentals of IoT

Browse courses on IoT

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Find a tutorial that covers the basics of IoT.
Go through the tutorial and take notes.
Complete any exercises or activities that are included in the tutorial.

Review IoT fundamentals

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Reviewing fundamentals of IoT will help you understand how they are applied in finance.

Browse courses on Internet of Things

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Identify key concepts of IoT.
Review different types of IoT devices.

API Case Study Discussion Group

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Work together with peers on an API related case study

Browse courses on APIs

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Form a small group with other students in the course.
Select an API-related case study to discuss.
Meet regularly to discuss the case study and share your insights.
Prepare a presentation or report on your findings.

Practice using APIs

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Practice will increase your understanding and comfort using APIs.

Browse courses on APIs

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Find a practice API.
Write code to interact with the API.

API Coding Exercises

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Solidify coding skills for APIs with practice

Browse courses on APIs

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Find a set of coding exercises that focus on APIs.
Complete the exercises, debugging your code as you go.
Review your solutions and identify areas where you can improve.

Career center

Learners who complete Fintech: IoT and APIs in the Financial Industry will develop knowledge and skills that may be useful to these careers:

Business Analyst

A Business Analyst could work in many different industries and would be responsible for analyzing an organization or business to improve efficiency. As a Business Analyst, you would be responsible for a variety of tasks, including gathering and interpreting data, identifying and defining problems, and developing and implementing solutions. In order to do so effectively in the finance industry, you would need to have a strong understanding of fintech. This course provides an overview of fintech, as well as a deep dive into IoT, APIs, insurtech, the payment industry, and the future of fintech.

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Data Scientist

Data Scientists are responsible for collecting, analyzing, and interpreting data to solve business problems. Data Scientists working in the fintech industry must have a strong understanding of the financial sector, banking, insurance, investing, and other financial services. This course in Fintech: IoT and APIs in the Financial Industry will help build a foundation in fintech by teaching the technology of payments, API, and in general Internet of Things, as well as the future of fintech.

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Compliance Officer

Compliance Officers are responsible for ensuring that an organization complies with all applicable laws and regulations. They develop and implement compliance programs and monitor compliance activities. As a Compliance Officer in the financial industry you would need to have a strong understanding of the financial industry and how technology is used in the sector. This course will help build a foundation in fintech by providing a comprehensive overview of the technology of payments, API, and in general Internet of Things.

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Risk Manager

Risk Managers are responsible for identifying, assessing, and mitigating risks. They develop and implement risk management plans to protect an organization from financial losses. As a Risk Manager in the financial industry you would need to have a strong understanding of fintech. This course in Fintech: IoT and APIs in the Financial Industry would be very helpful as it will help build your knowledge about the technology of payments, API, and in general Internet of Things, as well as the future of fintech.

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Financial Manager

As a Financial Manager, you would play a role in the financial health of an organization. You will work with investments, monitor cash flow, create budgets and reports and analyze financial trends. In order to do so effectively, you need to have a comprehensive knowledge of the use of technology in finance. This course discusses the use of API, the use of IoT to improve insurance, and dives into the future of fintech, which will all be very useful to you as a Financial Manager.

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IT Auditor

IT Auditors examine an organization's computer systems and networks to ensure that they are secure and compliant with regulations. They also make recommendations to improve the organization's IT security. As an IT Auditor in the financial industry, you would need a strong understanding of how technology is used in the financial sector. This course would help build that foundation with its overview of the technology of payments, API, and in general Internet of Things, as well as a dive into the future of fintech.

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Project Manager

Project Managers are responsible for planning, executing, and closing projects. They work with stakeholders to define project goals, develop project plans, and track project progress. As a Project Manager in the fintech industry you will need a solid understanding of the financial industry and fintech in particular. This course will help build a foundation in fintech, with its overview of the technology of payments, API, and in general Internet of Things, as well as its discussion of the future of fintech.

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Information Security Analyst

Information Security Analysts are responsible for protecting an organization's computer systems and networks from cyberattacks and other security breaches. In the financial industry, Information Security Analysts must have a strong understanding of fintech, banking, insurance, investing, and other financial services. This course in Fintech: IoT and APIs in the Financial Industry may be useful to you, as it would give you a good understanding of the technology of payments, API, and in general Internet of Things. This knowledge would be instrumental in understanding the threats faced by the financial industry and how to safeguard an organization's systems.

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Software Engineer

As a Software Engineer, you will specialize in any of the following subfields: applications software, systems software, or theory. You will use your knowledge of programming and computer science to design, develop, deploy, and maintain software systems. The growing evolution of fintech has spurred a demand for Software Engineers who are knowledgeable about banking, finance, and different aspects of the financial system. This course in Fintech: IoT and APIs in the Financial Industry will help build a foundation in this area with its overview of the technology of payments, API, and in general Internet of Things.

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Product Manager

Product Managers are responsible for the development and launch of new products and services. They work with engineers, designers, and marketers to ensure that products meet the needs of customers. As a Product Manager in the fintech industry, you must have a strong understanding of the financial sector, banking, insurance, investing, and other financial services. This course may be useful to you in gaining this understanding, as it will teach you about the technology of payments, API, and in general Internet of Things, and discuss the future of fintech.

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Quantitative Analyst

Quantitative Analysts use mathematical and statistical models to analyze financial data. They develop trading strategies and make investment recommendations. As a Quantitative Analyst you need a strong background in mathematics, statistics, and computer science. This course may be useful as it will introduce you to the technology of payments, API, and in general Internet of Things. This knowledge is becoming increasingly important in the financial industry.

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Actuary

Actuaries use mathematical and statistical techniques to assess the financial risks associated with insurance policies. They develop and implement risk management strategies to protect insurance companies from financial losses. As an Actuary, you need a strong background in mathematics, statistics, and computer science. This course may be useful as it will introduce you to the technology of payments, API, and in general Internet of Things. This knowledge is becoming increasingly important in the financial industry.

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Financial Advisor

Financial Advisors help individuals and businesses manage their finances. They provide advice on investments, retirement planning, and other financial matters. As a Financial Advisor, you need to understand how the financial industry works and you need to have excellent communication skills. This course in Fintech: IoT and APIs in the Financial Industry may be useful to you as it would give you a good understanding of the technology of payments, API, and in general Internet of Things. As fintech continues to change the financial sector, this information will be valuable to a Financial Advisor.

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Insurance Underwriter

Insurance Underwriters assess and evaluate the risks associated with insuring individuals and businesses. They determine the premiums that policyholders will pay and the terms and conditions of the insurance policies. As an Insurance Underwriter, you would need to understand how technology is used in the insurance industry, including the use of IoT devices This course dives into insurtech, the use of technology in the insurance industry and may be helpful to you in this role.

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Financial Analyst

As a Financial Analyst, you will give advice regarding the investment of funds and financial strategy. You would study trends and make recommendations based on your research. This course in Fintech: IoT and APIs in the Financial Industry may be useful to you as it would give you a good understanding of the technology of payments, API, and in general Internet of Things. It may enable you better understand the companies you analyze for your clients.

See salaries and explore the career path for Financial Analyst