Center on Finance, Law, and Policy hosts FinTech Conference at Michigan
“Whether they realize it or not, every student is already using FinTech”
— Christie Baer, Assistant Executive Director of the Center on Finance, Law, and Policy at U-M
The other day I got the chance to sit down with Christie Baer from the Center on Finance, Law, and Policy at the University of Michigan. She was kind enough to tell me about the work they do, the upcoming FinTech conference they’re hosting in November, and why she feels college students should become more familiar with the space.
Center on Finance, Law, and Policy (CFLP)
About 4 years ago, Michael Barr, started the Center on Finance, Law, and Policy with the main objective of dissecting the financial crisis of 2008. He worked with faculty from the Ross School of Business, Michigan Law School, School of Public Policy, and College of Engineering to bring together leading scholars in those fields to conduct interdisciplinary research on financial policies, regulations, and financial products / services. Throughout the year, they host conferences at the University for students, faculty, and researchers to learn from some of the leading individuals in the financial services industry.
FinTech Risks and Opportunities: an Interdisciplinary Approach
On November 16–17th, CFLP is hosting its 3rd annual conference on financial stability. This year, the conference is honing on FinTech startups, how they should be regulated and why. Academics, industry leaders, professors, and students will gather to learn and share ideas about FinTech. The conference will features keynote speakers like Gillian Tett, professors like Michael Wellman moderating, and free lunch with pre-registration. Along with the key note speakers, there are 6 different panels students can attend across the two days:
Thursday (11/16)
- FinTech Charters- which agencies should be in charge of regulation?
- Innovation- how are technologies like blockchain, artificial intelligence, and big data are currently being used to disrupt the financial industry
- Systemic Risk- how is the current financial industry connected and interwoven, and why does that matter for us as consumers
Friday (11/17)
- FinTech and Financial Inclusion
- RegTech: How can regulators be part of the solution?
- Innovation and Regulation trade offs
All of these panels, and the conference as a whole, is meant to appeal to audiences of all types. Unfamiliar with FinTech? No worries. Rest assured you’ll be able to understand what’s going on. Check out the full agenda for the conference.
But why should students in particular attend this conference? Well, whether they realize it or not, everyone’s already using FinTech. College students in particular are quick to adopt new technologies. Venmo, Apple Pay, and Mobile Banking Apps, all fall under the umbrella of Financial Technology. While most college students use these apps frequently, they don’t understand the risks and benefits that come with them.
- How do these apps store your personal information?
- What do they do with that data?
- What measures are in place to prevent fraud and misbehaviors currently?
That’s not to say FinTech is inherently corrupt, there are lots of companies that are working to make financial services more accessible to the common person (e.g. Robinhood making stocks trading more accessible, and MoneyLion making private banking more transparent for the everyday consumer).
Students should attend this conference to learn:
- How FinTech companies and technologies are changing finance, an industry that has been fairly opaque and lacked consumers’ trust in the past
- How we as consumers can benefit
- The risks that come along with that.
You will be interested in this conference if you are a:
Finance Enthusiast
For those students who are interested in Investment Banking (like 50% of Ross undergrads), we believe it’s important for you to understand where the financial services industry is headed. While the industry as a whole is shifting towards collaboration amongst startups and incumbent banks, FinTech startups are not a trend. There will continue to be disruption in the industry, and those interested in working in finance should understand the landscape moving forward.
Pre-law / Law Students / Public Policy Major
There’s a lack of regulation around FinTech startups currently. Anyone interested in institutional law or public policy could stand to learn a lot from this conference, as one of the main focuses is how to regulate startups who are constantly and rapidly changing. The government tends to be pretty slow in adjusting and adopting new laws for new technologies. What better way to learn about regulations around big data, cryptocurrencies, and artificial intelligence than through FinTech, a space that has it all?
Entrepreneurs
Anyone interested in entrepreneurship, or innovation in general would be a great fit for this conference. There’s tons of innovation and disruption happening in the space. If you’re an aspiring entrepreneur, innovation lover, or just general tech enthusiast you could learn a lot from coming to the FinTech conference. As previously mentioned, FinTech is a space where a lot of emerging technologies are being deployed. Blockchain, Artificial Intelligence, Machine learning, and more are reshaping financial services as we know it. For those who want to make entrepreneurship their career, or just learn a bit more about some cool tech, this conference is worth stopping by.
It’s important for us as college students to become acquainted with FinTech to better understand how we can benefit from the innovation going on in the industry, as well as the potential risks that come with it.
If you have any free time November 16th or 17th, you should try and stop by the conference- you may be able to learn something. (Plus, there’s opportunities to network with industry leaders, and free food). Hope to see some of you there.
