The financial sector has recently undergone many advances, which has had an immense influence on both consumers and regulations. To cope with consistently low-interest rates, low credit growth, and ever-growing retail competition from FinTechs, banks, especially traditional ones, have to adjust their business models to guarantee profitability. By the arrival of new algorithms, big data, Blockchain, peer-to-peer lending, smart contracts, and crowdsourcing, banks are doomed to confront rivalry from new types of intermediaries.
On the other hand, Fintech was suffering from the absence of a reputable brand and a customer base, inadequate access to capital markets, and, last but not least, a lack of knowledge about customers in general.
As the COVID-19 pandemic has probably put us on the deepest global recession of our lifetime, disruption in the banking sector has long passed its experimental point. Moreover, it is precipitating the arrival of new digital alternatives that are more agile, resilient, and secure. These new technologies are also favored by giving customized solutions to emerging problems like social distancing and governments' regulations.
The summer school will prepare anyone who wants to work or lead an initiative in the FinTech sector, taking an approach to the opportunities within the future projection of this industry. The program will also try to investigate the level at which FinTech and its repercussion in society harm the stability. Finally, the program aims to learn the latest developments and advances in the FinTech industry.
There will be different courses, visiting startups, and pitching. The program will start by building different teams under the supervision of the coaches and mentors. The companies that are participating in this program will present various case studies. The student will learn how to write a business plan for their cases. There will be pitching at the end of the program, and the best team will be awarded. The program will offer a start-kit before the summer school to make the process clear for the participant who is not familiar with the program.
The summer school will take place at the Madrid CLC. Accommodation will be provided in Madrid's city. During the weekend, there will be a trip to one of the most beautiful sites in Spain in order to see the fascinating Spanish history and enjoy traditional Spanish food.
Rafael Muñoz Gómez - "Very glad to have participated in the EIT Digital 2020 Rennes Summer School - Unleashing the power of circular city data. It was a really unique online learning experience. I am very grateful for all the effort made by the people from the University of Rennes 1 and EIT Digital. Special thanks to Alvaro Pina Stranger and all the mentors: Alberto Tejero Lopez, Maud Serpin, Aude Castan, Francois Huber, Serdar DrZero and Véronique TRUB."
Marta Mazzi -"From August 2nd to August 14th I participated to the EIT Digital Summer School in "Healthy Lifestyle and Behavioural Changes" (online edition). It was a pleasure to work on the case study proposed by Lars Mulder regarding childhood obesity together with my teammates Przemysław Lewandowski, Marta Bertran Ferrer, Juba Saadi, Juta Jaama and Juan Álvarez Fernández del Vallado. We worked hard together coming up with a winning solution: Lola the Carmanyola. A smart lunchbox targeted toward children connected to an application to be installed on the parent's smartphone. A big thank you to our mentors and tutors Ákos R. Wetters and Peter Langela which helped and supported us all along our journey."
Vinko Mlačić - "It has been a month since I attended the EIT Digital Summer School hosted by Universidad Politécnica de Madrid. The theme of the Summer School was "Disrupting Finance with Digital Technologies". We received lectures about the most significant topics in digital finance from industry experts. My team and me had the daunting task of adapting online and mobile banking to the elderly. I would like to thank the coach team (Alessandro T. and Balazs Horvath) that helped us a immensely with the I&E work and for their efforts in keeping the atmosphere light and fun with the social activities. Although the format was remote, the organization of the Summer School did an excellent job at giving us the best possible experience. Furthermore, having an experience of working in a team remotely is definitely a plus in these times. All in all, a great experience. The thing I am the happiest about was the opportunity to meet so many interesting people!"
Léo Vuylsteker - "University of Rennes 1's online Summer School on "Unleashing the Power of Circular City Data" was a great human (and learning) adventure that has now come to an end. Thank you again Université de Rennes 1 and EIT Digital!"