*This unit will not be offered in 2021 TTEC604 Financial Technologies in Banking Campus: South Eveleigh, NSW 2015 Units of Credit: 6 Prerequisite or Corequisite: This subject has no pre-requisite subjects. EFTSL*: 0.125 Indicative Contact Hours per Week: 3 Tuition Fee See Tuition Fee Schedule Application Date: See Key Dates Unit Overview: Digital banking has greatly evolved in recent years with the entry of several new forces that have changed the online and mobile banking ecosystem and the way customers bank. Traditional bank distribution models and economics are at risk of being deeply disrupted by the drive towards platform models of banking. Banks no longer define customer expectations of the banking experience; instead, FinTechs and large technology companies set the standard. Incumbents are starting to migrate core systems to the cloud, as legacy infrastructure creates challenges in meeting customer needs. The retail banking industry has moved from in-branch banking to digital channels with innovative products and services disrupting traditional banking in advanced nations and providing facilities for consumers in developing nations never before experienced. This unit will examine how the FinTech industry is transforming retail banking. *EFTSL = Equivalent full-time study load