Financial Services in the Twenty-First Century

The Present System and Future Developments in Fintech and Financial Innovation

By: John JA Burke

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Paperback | 6 July 2021

At a Glance

Paperback
236 Pages

Dimensions(cm)
23.39 x 15.6 x 1.27

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$117.74

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This textbook covers financial systems and services, particularly focusing on present systems and future developments. Broken into three parts, Part One establishes the public institutional framework in which financial services are conducted, defines financial service systems, critically examines the link between finance, wealth and income inequality, and economic growth, challenges conventional paradigms about the raison d'etre of financial institutions and markets, and considers the loss of US financial hegemony to emerging regional entities [BRICS]. Part Two focuses on financial innovation by explaining the impact of the following technologies: cryptography, FinTech, distributed ledger technology, and artificial intelligence. Part Three assesses to what extent financial innovation has disrupted legacy banking and the delivery of financial services, identifies the main obstacles to reconstructing the whole financial system based upon "first principles thinking":
Nation State regulation and incumbent interests of multi-national companies, and provides a cursory description of how the pandemic of COVID-19 may establish a "new normal" for the financial services industry. Combining rigorous detail alongside exercises and PowerPoint slides for each chapter, this textbook helps finance students understand the wide breadth of financial systems and speculates the forthcoming developments in the industry. A website to serve as a companion to the textbook is available here: www.johnjaburke.com.

Industry Reviews

"There's a lot to keep the reader's mind engaged throughout the read. This book is recommended to financial enthusiasts. Students majoring in finance-related studies may find it quite helpful because the author structures the book in an academic-friendly way. ... I rate it four out of four stars." (Sam Ibeh, forums.onlinebookclub.org, September 22, 2021)

"The chapters are appropriately (and impressively) synoptic, each ending with a helpfully concise conclusion and an assemblage of discussion questions for students. ... Burke manages not only to provide remarkably accessible treatments of complex subjects, but also furnishes useful illustrative tools like graphs and charts as well as a bibliography pointing the way to further study. The book is admirably comprehensive ... . A rigorous, thorough work that should help finance students prepare for major changes." (Kirkus, kirkusreviews.com, July 6, 2021)

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