Today’s payments industry is dynamic and the future looks exciting. Payments is a short, but a fully packed course providing a broad understanding of each of the key players and their roles in the U.S. electronic payments value chain. You will learn the fundamentals about what drives revenue, cost and risk in the payments industry as well as gain insights regarding innovators and disruptors affecting trends in the payments industry today and in the future.

Deep Dive into Interchange Fees from Card Networks in Canada

There's a lot of things that should be kept in mind when dealing with credit cards. Let's check on the basics and learn the ropes of associating such cards with your business in terms of receiving payments.

Open Banking in Europe 101

In this course, we will learn about an approach that's trending in the past couple of years. Open banking is a financial services term as part of financial technology that refers to The use of open APIs that enable third-party developers to build applications and services around the financial institution. James Miller shall share his knowledge about such.

Understanding Travel Payments

From challenges with payment acceptance at the point of sale to keeping an eye on potential disruptors, the world of payments is rapidly evolving in the air travel industry — and it’s important for agencies to stay up to date on the latest developments.

Open Banking in the US

 In this course, we will learn about an approach that's trending in the past couple of years. Open banking is a financial services term as part of financial technology that refers to: The use of open APIs that enable third-party developers to build applications and services around the financial institution. James Miller shall share his knowledge about it but this time it is for the US counterpart.

Deep Dive into Open Banking in the US

A deeper and broader approach on Open Banking. In this course, we will learn about an approach that's trending in the past couple of years. Open banking is a financial services term as part of financial technology that refers to The use of open APIs that enable third-party developers to build applications and services around the financial institution.

Understanding How ACH Payments Maximize Invoice-to-Cash

Getting paid faster is a top priority for supplier organizations and studies show that suppliers prefer to be paid via ACH over paper checks by almost 3 to 1. Mr. Roert Jones identifies the critical steps every company needs to know about how ACH payments streamline the Invoice-to-Cash process. As the Administrator for the ACH Network, NACHA has made ACH ubiquitous in relation to electronic payments - especially for B2B. Mr. Jones highlights those key areas that are most important to supplier organizations, such as how to leverage the value of the ACH network, how to become more attractive to potential customers, and how ACH results in faster customer payments.

This course is for students wishing to explore blockchain technology's potential use—by entrepreneurs and incumbents—to change the world of money and finance. The course begins with a review of Bitcoin and an understanding of the commercial, technical, and public policy fundamentals of blockchain technology, distributed ledgers, and smart contracts. The class then continues on to current and potential blockchain applications in the financial sector. 

MIT Blockchain & Money: Introduction

In this video, Prof. Gary Gensler provides an introduction to the course and to blockchain technology.

MIT Blockchain & Money: Money, Ledgers, and Bitcoin 

In this lecture, Prof. Gensler discusses the history of money, ledgers, fiat currency, central banking, early digital money, and mobile payments.

MIT Blockchain & Money: Blockchain Basics and Cryptography

In this course, Prof. Gensler, explains the basics of blockchain and covers Bitcoin design features, hash functions, blocker headers, Merkle trees, among other related topics.

MIT Blockchain & Money: Blockchain Basics and Consensus 

This lecture covers blockchain consensus protocols. Because of the decentralized nature of blockchain technology, it is crucial that consensus protocols are used to require that the nodes on the network agree on the same state of a blockchain.

MIT Blockchain & Money: Blockchain Basics and Transactions, UTXO, and Script Code

This course covers the design features of blockchain, like hash functions, append-only timestamped logs, and proof-of-work. The professor also covers unspent transaction output (UTXO).

MIT Blockchain & Money: Smart Contracts and DApps

This session covers smart contracts, blockchain design, Dapps, and tokens. Harvard professor Lawrence Lessig explains the legal issues of smart contracts.

MIT Blockchain & Money: Technical Challenges

This lecture covers technical challenges to blockchain technology, such as scalability, privacy, security, and interoperability.

MIT Blockchain & Money: Public Policy

In this course, Prof. Gensler discusses how public policy relates to blockchain technology and crypto finance. The public policy framework guards against illicit activity provide financial stability and protect the investing public.

MIT Blockchain & Money: Permissioned Systems

In this lecture, Prof. Gensler discusses permission or private distributed ledger technology.

MIT Blockchain & Money: Financial System Challenges and Opportunities

This lecture describes three aspects of finance: financial institutions, regulation, and technology. Also covered is risk management and opportunities in the blockchain field.

MIT Blockchain & Money: Blockchain Economics

In this course, Prof. Gary Gensler discusses the economics of blockchain, blockchain vs. the Internet, blockchain minimalists, and costs and trade-offs.

MIT Blockchain & Money: Payments, Part 1

Prof. Gensler discusses major trends in payment systems, lessons that can be learned from non-blockchain payment innovations, and the challenges and opportunities in current payment system architecture.

MIT Blockchain & Money: Payments, Part 2

In this course, Prof. Gensler discusses the lessons that can be drawn from the challenges of blockchain-related payment applications. Other topics include cross-border payments and permissioned vs. permissionless applications.

MIT Blockchain & Money: Central Banks and Commercial Banking, Part 1

In this lecture, the class discusses a number of topics related to central banking, including fiat currencies, how central banks approach blockchain technology, and payment systems and different blockchain initiatives.

MIT Blockchain & Money: Central Banks and Commercial Banking, Part 2

Prof. Gary Gensler continues the discussion about central banks and commercial banking by talking about private banknotes and stable value tokens, and central bank digital currency.

MIT Blockchain & Money: Secondary Markets and Crypto-Exchanges

For this course, Prof. Gensler talks about crypto-exchange, a major part of the crypto-finance ecosystem.

MIT Blockchain & Money: Primary Markets, ICOs, and Venture Capital, Part 1

Prof. Gensler talks about crowdfunding with Initial Coin Offerings (ICOs) as well as the characteristics and evaluation of ICOs.  

MIT Blockchain & Money: Primary Markets, ICOs, and Venture Capital, Part 2

Prof. Gensler continues the discussion about Initial Coin Offerings (ICOs), focusing on the markets and regulations for ICOs.  

MIT Blockchain & Money: Post Trade Clearing, Settlement, and Processing

Prof. Gensler leads a discussion on clearing and settlement systems, blockchain technology applicability, and blockchain technology projects.

MIT Blockchain & Money: Trade Finance and Supply Chain

Prof. Gensler explores trade finance, its attributes, and the significant activity of blockchain technology behind it.  

MIT Blockchain & Money: Digital ID

Prof. Gensler speaks about identity and access management, how identity management works in a digital age, state projects in India and Estonia, and some blockchain projects in the private sector.

MIT Blockchain & Money: Conclusion

Prof. Gensler gives a summary of the class, touching on money and ledgers, the economics of blockchain technology, financial sector opportunities, crypto finance, and public policy.

The purpose of the class is to expose undergraduate and graduate students to the mathematical concepts and techniques used in the financial industry. Mathematics lectures are mixed with lectures illustrating the corresponding application in the financial industry. MIT mathematicians teach the mathematics part while industry professionals give the lectures on applications in finance.

MIT: Introduction, Financial Terms and Concepts

In the first lecture of this course, the instructors introduce key terms and concepts related to financial products, markets, and quantitative analysis.

MIT: Linear Algebra

This lecture is a review of the linear algebra needed for the course, including matrices, linear transformations, eigenvalue, and eigenvectors.

MIT: Probability Theory

This lecture is a review of the probability theory needed for the course, including random variables, probability distributions, and the Central Limit Theorem.

MIT: Stochastic Processes I

This course introduces stochastic processes, including random walks and Markov chains.

MIT: Regression Analysis

This lecture introduces the mathematical and statistical foundations of regression analysis, particularly linear regression.

MIT: Value At Risk (VAR) Models

This is an applications lecture on Value At Risk (VAR) models, and how financial institutions manage market risk.

MIT: Time Series Analysis I

This is the first of three courses introducing the topic of time series analysis, describing stochastic processes by applying regression and stationarity models.

MIT: Volatility Modeling

This lecture introduces the topic of volatility modeling, including historical volatility, geometric Brownian motion, and Poisson jump diffusions.

MIT: Regularized Pricing and Risk Models

This is a guest lecture on regularized pricing and risk models, featuring explanations of bonds, swaps, and yield curve models.

MIT: Time Series Analysis II

This is the second of three courses introducing the topic of time series analysis, describing multivariate time series, representation theorems, and least-squares estimation.

MIT: Time Series Analysis III

This is the last of three lectures introducing the topic of time series analysis, describing cointegration, cointegrated VAR models, linear state-space models, and Kalman filters.

MIT: Commodity Models

This is a guest lecture on commodity modeling, analyzing the methods of generating profit with a constrained system.

MIT: Portfolio Theory

This course describes portfolio theory, including topics of Markowitz mean-variance optimization, von Neumann-Morganstern utility theory, portfolio optimization constraints, and risk measures.

MIT: Factor Modeling

This lecture describes factor modeling, featuring linear, macroeconomic, fundamental, and statistical factor models, and principal components analysis.

MIT: Portfolio Management

This lecture focuses on portfolio management, including portfolio construction, portfolio theory, risk parity portfolios, and their limitations.

MIT: Stochastic Processes II

This course covers stochastic processes, including continuous-time stochastic processes and standard Brownian motion.

MIT: Itō Calculus

This lecture explains the theory behind Itō calculus.

MIT: Black-Scholes Formula, Risk-neutral Valuation

This is a lecture on risk-neutral pricing, featuring the Black-Scholes formula and risk-neutral valuation.

MIT: Option Price and Probability Duality

This course focuses on option price and probability duality. This is an additional course to the application of Mathematics in relation to Finance.

MIT: Stochastic Differential Equations

This lecture covers the topic of stochastic differential equations, linking probability theory with ordinary and partial differential equations.

MIT: Quanto Credit Hedging

This is a guest lecture on quanto credit hedging, including using mathematical models in trading.

MIT: HJM Model for Interest Rates and Credit

This is an extra course that describes the HJM model for interest rates and credit, including hedging risk on interest and credit rate derivatives.

MIT: Ross Recovery Theorem

This guest lecture features the Ross Recovery Theorem.

MIT: Introduction to Counterparty Credit Risk

This lecture is an introduction to counterparty credit risk, featuring credit valuation as well as the broad economic objectives of a financial institution. It also concludes the course.