Disrupting Finance with Digital Technologies // EIT Digital Summer School

Disrupting Finance with Digital Technologies

Disrupting Finance with Digital Technologies

Madrid, Spain, 18 July - 31 July 2021


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 favoured 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 COVID-19 situation and 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.

The summer school programme was designed with MADFINTECH as a co-organizer. MADFINTECH is the Madrid Capital’s fintech cluster made up of more than 150 fintech companies and bodies of banking and insurance, intending to become a benchmark for the sector at the national and international levels. MADFINTECH will also provide lecturers, cases, and mentors from the top European fintech industry.

There will be different courses, visiting start-ups, and pitching. The program will start by building different teams under the supervision of the coaches. 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 centre with special transportation for travelling to the centre every day. 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.


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