What We Do
Given the unprecedented pace and impact of technological advancement in financial services, rigorous research on innovation and the future of the industry has become imperative within academic and business realms. In examining the complexity of disruptive forces shaping the industry and formulating potential strategic responses to such challenges, a multidisciplinary approach is the most impactful method to scrutinize the industry’s fundamental construct and instigate transformative innovation.
Advanced Projects & Applied Research in Fintech (“APAR”) at Columbia Business School aims to diligently address this proposition with the right mix of "fin" and "tech." APAR inhabits the intersection of the core disciplines necessary to not only understand and anticipate industry trends and changes, but to also devise inventive strategic solutions alongside their implementation. The intellectual depth of our faculty, their achievements in and dedication to original research, and our institutional tradition of thought-leadership endue APAR at Columbia Business School to be at the leading edge of industry transformation in today’s digital age.
Deploying an interdisciplinary approach to research, mathematical and computational models, data analytics, product ideation, design, prototyping, and field applications, APAR blends theory and practice to identify pioneering opportunities, to interpret risk/reward dynamics, and to execute real-time solutions. It is our belief that such an integrated approach to technological tool implementation in financial services, be it for consumer or enterprise products, will ensure a responsible, systematic and all-encompassing model for research and development through academic and corporate collaboration.
Goals
By incorporating deep business, engineering, design, and storytelling expertise, APAR pursues academic research and advanced projects by bringing together various constituents to collaborate and develop:
- Revolutionary, breakthrough solutions that are first in the industry ("0 to 1 Solutions").
- Evolutionary solutions addressing customer or industry needs that, at a minimum, provide an order of magnitude improvement over current models ("1 to 10 Solutions").
Audience
APAR's target audience and constituents include:
- academic researchers, teaching faculty, and graduate students
- corporate partners, industry participants, and tech startups
- central bankers, regulators, and policy makers
- journalists, media, and domain authors
Given the wealth of academic resources, courses, and faculty research at Columbia Business School as well as other graduate schools within Columbia University, APAR is uniquely positioned to be at the forefront of educating and training the next generation of researchers, students, future business leaders, and industry innovators. Indeed, developing talent full of creativity, audacity, and ambition to change the world for the better is a priority for APAR.
The MBA courses currently offered at Columbia Business School provide a wide selection of introductory- to advanced content on Fintech for which students can register. Our Executive Event and Education Summits also provides a marquee platform for industry executives, board members, professionals, angel investors, and entrepreneurs to stay informed of the latest technological and research advancements as well as learn about new topics and developments in the field.
Industry Focus Areas
APAR’s areas of studies within the financial services realm are subdivided into the following practice groups:
- Insurance - sample project and research projects include IoT, modular- and micro insurance, risk analysis, and smart contracts, to name a few.
- Savings (wealth management, retirement, robo advisors)
- Blockchain and Cryptocurrencies (application specific tokens, crowdfunding, protocol layer investing, regulatory frameworks)
- Payments (micro, “less cash + cashless,” biometric, remittance)
- Capital Markets (ATS for equities and fixed income, smart algorithms, data analytics)
- Lending (risk assessment metrics, structured products, credit models, etc.)
In addition, studies and projects that cut across various categories will also be pursued; a sample list includes marketing of consumer financial technology products, cybersecurity, artificial intelligence (AI), and privacy.