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Fintech

IoT and APIs in the Financial Industry

Cesare Fracassi

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.

Read more

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.

  1. 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.
  2. The second module will focus on insurtech, the use of technology in the insurance industry.
  3. The third module will survey the payment industry, from the way payments are encrypted, processed, and settled.
  4. 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.

Enroll now

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:

Syllabus

Week 1: IoT and Finance
- Internet of Things
- APIs and Finance
- Open Banking
Read more

Traffic lights

Read about what's good
what should give you pause
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

Save this course

Create your own learning path. Save this course to your list so you can find it easily later.
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Reviews summary

Fintech's strategic overview: iot and apis

According to learners, this course offers a largely positive and informative overview of how IoT and APIs are transforming the financial industry. Students appreciate the clear explanations and well-structured lectures, finding it provides a solid foundation in areas like open banking, insurtech, and payment systems. While many commend its relevance and real-world examples, some reviewers noted that the course provides a high-level understanding, potentially lacking the technical depth desired by those seeking detailed implementation knowledge. It appears most beneficial for those new to the field or looking for a strategic perspective, rather than technical specialists.
Instructor explains complex topics clearly and engagingly.
"The instructor explained complex topics clearly, though sometimes the pace was a bit slow for experienced professionals."
"The lectures were well-structured and easy to follow."
"The instructor's delivery was engaging, and they did a great job."
Course content is up-to-date and highly relevant to the industry.
"The open banking section was particularly insightful and felt very current."
"The content is well-researched and presented, effectively tying together various emerging trends."
"I learned a lot about the 'plumbing' of finance. The cross-border payments section was particularly relevant to my work."
Provides a broad, high-level understanding of Fintech.
"Excellent course! As someone transitioning into Fintech, this provided a solid foundation."
"I gained a fantastic understanding of the big picture of Fintech, especially IoT and APIs."
"I walked out with a good grasp of the plumbing of the financial sector, and how new technological innovations... will reshape it."
Some reviewers found quizzes to be less challenging.
"My only minor critique is that some quizzes felt a bit too easy, not truly testing understanding."
Offers broad coverage but may lack deep technical detail.
"I found some parts to be quite high-level, lacking the technical depth I was hoping for, especially regarding API implementation details."
"I felt it was truly a high-level overview, perhaps better for absolute beginners to the space."
"It was good for a general understanding, but not for developers; I expected more practical application or case studies."

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
Pull together currently available course materials to enhance understanding
Browse courses on Financial Technology
Show steps
  • 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
Review the basics of finance to ensure a solid foundation for understanding APIs, IoT, and other fintech concepts.
Browse courses on Finance Fundamentals
Show steps
  • Review textbook chapters or online resources on finance fundamentals.
  • Solve practice problems or take quizzes to test your understanding.
Insurtech Overview Tutorial
Gain practical knowledge of the intersection between insurance and technology
Browse courses on InsurTech
Show steps
  • 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
Expand to see all activities and additional details
Show all eight activities
IoT Basics Tutorial
Build up a foundation by reviewing fundamentals of IoT
Browse courses on IoT
Show steps
  • 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
Reviewing fundamentals of IoT will help you understand how they are applied in finance.
Browse courses on Internet of Things
Show steps
  • Identify key concepts of IoT.
  • Review different types of IoT devices.
API Case Study Discussion Group
Work together with peers on an API related case study
Browse courses on APIs
Show steps
  • 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
Practice will increase your understanding and comfort using APIs.
Browse courses on APIs
Show steps
  • Find a practice API.
  • Write code to interact with the API.
API Coding Exercises
Solidify coding skills for APIs with practice
Browse courses on APIs
Show steps
  • 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.
See salaries and explore the career path for Business Analyst
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.
See salaries and explore the career path for Data Scientist
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.
See salaries and explore the career path for Compliance Officer
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.
See salaries and explore the career path for Financial Manager
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.
See salaries and explore the career path for IT Auditor
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.
See salaries and explore the career path for Risk Manager
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.
See salaries and explore the career path for Project Manager
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.
See salaries and explore the career path for Information Security Analyst
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.
See salaries and explore the career path for Product Manager
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.
See salaries and explore the career path for Software Engineer
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.
See salaries and explore the career path for Quantitative Analyst
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.
See salaries and explore the career path for Actuary
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.
See salaries and explore the career path for Financial Advisor
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.
See salaries and explore the career path for Insurance Underwriter
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

Reading list

We've selected 14 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Fintech: IoT and APIs in the Financial Industry.
Cover image
The Intelligent Investor, 3rd Ed.
Save
Is considered a classic in the field of investing. It provides a comprehensive guide to the principles of value investing. This book is essential reading for anyone interested in investing.
The Intelligent Investor, 3rd Ed.: The Definitive...
Hardcover
$$
Cover image
Bank 4.0
Save
Provides a comprehensive overview of the digital banking revolution. It covers the key trends and technologies that are shaping the digital banking revolution, as well as the challenges and opportunities that the digital banking revolution presents for the financial sector.
Bank 4.0: Banking Everywhere, Never at a Bank
Hardcover
$$
Bank 4.0
Paperback
$$
(Pусский) Bank 4.0. Novaja finansovaja realnost
Hardcover
$$$
Bank 4.0: Banking Everywhere, Never at a Bank
Kindle Edition
$$
Cover image
The Innovator's Dilemma, with a New Foreword
Save
Provides a framework for understanding how large, successful companies can be disrupted by new technologies and business models. It is particularly relevant to the FinTech industry, which is constantly evolving and creating new challenges for incumbents.
The Innovator's Dilemma, with a New Foreword
Paperback
Check
The Innovator's Dilemma, with a New Foreword
Kindle Edition
Check
Cover image
Denmark
Save
Provides a comprehensive guide to cross-border payments. It covers the key concepts, technologies, and regulations involved in cross-border payments, as well as the challenges and opportunities that cross-border payments present for the financial sector.
Denmark
Paperback
Check
Denmark
Kindle Edition
Check
Lean Startup: How Today's Entrepreneurs Use...
Save
Provides a practical guide to building a successful startup company. It is particularly relevant to FinTech entrepreneurs, who need to be able to quickly adapt to changing market conditions.
The Lean Startup: How Today's Entrepreneurs Use...
Hardcover
$$
The Lean Startup: How Today's Entrepreneurs Use...
Kindle Edition
$$
Cover image
Blockchain Revolution
Save
Provides a comprehensive overview of blockchain technology and its potential applications in the financial industry. It is particularly relevant to FinTech companies that are looking to use blockchain to improve their products and services.
Blockchain Revolution: How the Technology Behind...
Paperback
$$
Blockchain Revolution: How the Technology Behind...
Paperback
$$
(Español) La revolución blockchain [The Blockchain Revolution]
Audible Audiobook
$$
Blockchain Revolution, Business Adventures Twelve...
Paperback
$$
(Português) Blockchain revolution (Portuguese Edition)
Kindle Edition
$
(Deutsch) Die Blockchain-Revolution: Wie die Technologie...
Kindle Edition
$$
Cover image
The Age of Cryptocurrency
Save
Provides a comprehensive overview of the cryptocurrency revolution. It covers the key concepts, technologies, and applications of cryptocurrency, as well as the challenges and opportunities that cryptocurrency presents for the financial sector.
The Age of Cryptocurrency: How Bitcoin and Digital...
Kindle Edition
$$
Cover image
Stakeholder Capitalism
Save
Provides a vision for the future of the global economy. It argues that we are entering a new era of technological change that will have a profound impact on all industries, including finance.
Stakeholder Capitalism: A Global Economy that Works...
Hardcover
$$
(中文) Stakeholder Capitalism (Chinese Edition)
Hardcover
$$
Stakeholder Capitalism: A Global Economy that Works...
Kindle Edition
$$
Cover image
The Truth Machine
Save
Provides a comprehensive overview of the cryptocurrency industry. It covers the history of cryptocurrency, the different types of cryptocurrencies, and the challenges and opportunities facing the industry.
The Truth Machine
Paperback
Check
The Truth Machine
Kindle Edition
Check
Cover image
Financial Exclusion
Save
Provides a historical overview of the payment system. It covers the key developments in the payment system over time, as well as the challenges and opportunities that the payment system has faced.
Financial Exclusion: How Competition Can Fix a...
Paperback
$$
Cover image
The FINTECH Book
Save
Provides a comprehensive overview of the FinTech industry. It covers the different types of FinTech companies, the challenges and opportunities facing the industry, and the regulatory landscape.
The FINTECH Book: The Financial Technology Handbook...
Paperback
$$
The FINTECH Book: The Financial Technology Handbook...
Kindle Edition
$$
Cover image
Principles of Web API Design
Save
Provides a practical guide to using APIs to improve business efficiency. It is particularly relevant to FinTech companies that are looking to use APIs to integrate with other systems and services.
Principles of Web API Design: Delivering Value with...
Kindle Edition
$$
Cover image
Mastering Bitcoin
Save
Provides a comprehensive overview of Bitcoin and blockchain technology. It must-read for anyone who wants to understand the technical underpinnings of the FinTech industry.
Mastering Bitcoin: Programming the Open Blockchain
Paperback
$$
Mastering Bitcoin: Programming the Open Blockchain
Audible Audiobook
$$
(Italiano) Mastering Lightning Network: Protocollo di Secondo...
Paperback
$$$
Mastering Bitcoin
Kindle Edition
$$
Cover image
Quantum Machine Learning and Optimisation in Finance
Save
Provides a comprehensive overview of machine learning in finance. It covers the different types of machine learning algorithms, the challenges and opportunities of using machine learning in finance, and the regulatory landscape.
Quantum Machine Learning and Optimisation in...
Kindle Edition
$$

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Course image
Effort
5 to 6 hours per week for 3 weeks
Level
Intermediate
Via
edX
Institution
The University of Texas at Austin
Instructor
Cesare Fracassi
Language
English
Transcript
English
This course belongs to a collection called Fintech: The Future of Finance. It's comprised of four courses:
  1. Fintech Overview
  2. Fintech: Blockchain for Business and Finance
  3. Fintech: AI & Machine Learning in the Financial Industry
  4. Fintech: IoT and APIs in the Financial Industry (viewing)
Traffic lights
Read about what's good
what should give you pause
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
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