Overview
- Covers 3 technological concepts altering the global financial system: Fintech, Blockchain, and Artificial Intelligence
- Discusses international trends likely to reshape the global financial system in the 21st century
- Includes chapter-end exercises and PowerPoint slides for classroom use on www.johnjaburke.com
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About this book
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’être 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.
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.
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Keywords
Table of contents (16 chapters)
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Front Matter
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Financial Services: Public Framework and Relationship to Capital and Income
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Front Matter
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The Conventional Paradigm: Questioned
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Front Matter
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Technologies Influencing Financial Services
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Front Matter
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The Future of Financial Services
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Front Matter
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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)
“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)
Authors and Affiliations
About the author
John JA Burke is a Professor in the Business School at RISEBA University, Latvia, and of counsel to Sayat Zholshy & Partners, Kazakhstan. Professor Burke started his career in the United States as an Appellate Attorney, arguing and appearing before the United States Supreme Court, the Appellate and District Courts of the Third Circuit, and NJ State Courts at all levels. He then served as Assistant Executive Director of the NJ Law Revision Commission [NJLRC] where he drafted Reports and Recommendations to the NJ Legislature for 25 years, while simultaneously consulting for LEXIS/NEXIS from 1998-2012. Professor Burke served as Advisor to the Ministry of Finance in Estonia to establish a securities market and depository from 1993-1995; was appointed Professor of Law at the Riga Graduate School of Law, Latvia, and then Rector from 2002-2007; he also served as Rector and Professor of Law at International University Audentes, Estonia, in 2007. He held the position of Professor of Law and Chair of the Law Department at KIMEP University, Kazakhstan from 2008-2014. He holds a PhD in International Law from the Université de Fribourg, Switzerland; a J.D. from the University of Seton Hall, School of Law, USA; and a B.A. from Columbia College, USA.
Bibliographic Information
Book Title: Financial Services in the Twenty-First Century
Book Subtitle: The Present System and Future Developments in Fintech and Financial Innovation
Authors: John J A Burke
DOI: https://doi.org/10.1007/978-3-030-63967-9
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021
Softcover ISBN: 978-3-030-63966-2Published: 06 July 2021
eBook ISBN: 978-3-030-63967-9Published: 05 July 2021
Edition Number: 1
Number of Pages: XIII, 220
Number of Illustrations: 69 illustrations in colour
Topics: Financial Services, International Finance, Economics, general