Certificate in Digital Money

Foundation Courses

$1,500

Financial Aid Available

This 10-week foundation course covers all aspects of the digital payments and digital financial services ecosystem and value chain, far beyond what one would normally find in a course on money and banking.

*Available in French

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First Intake

Start Date

February 22, 2024

Enroll By

February 11, 2024

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Second Intake

Start Date

June 6, 2024

Enroll By

May 26, 2024

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Third Intake

Start Date

September 19, 2024

Enroll By

September 8, 2024

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Duration

10 Weeks

Delivery

Online

Certificate in Digital Money

Is This Course For You?

This course is for you if you wish to gain a complete understanding of digital payments, are a professional working to drive the financial inclusion agenda, and would like to accelerate your career in digital financial services.

What Are The Intended Outcomes?

This course will give you a complete view of digital payments ranging from mechanics, business models, risks, competition, and disruption.

Curriculum Outline

Module 1

Introduction to Digital Money

Means of Payment, Store of Value, Unit of Account.
Reserved/Backed Currencies vs. Fractional vs. Fiat
Issuance and Acceptance
Bank Money vs. E-money vs. Cryptocurrencies
Real-time and Non-real Time
Credit vs. Counterparty Risk Management
Data Management

Module 2

The Mechanics of Digital Payments

Clearing and Settlement, Settlement Risk
CPMI
Push vs. Pull Transactions
Payment Use Case, Instrument, Channel
Payment Service Providers
LVPS, RTGS, SIPS, DNS, ACH
Credential, Acceptance Device, Authentication, Authorisation

Module 3

Business Models and Risks

Remittances, Correspondent Bank, Nostro Account, SWIFT
Fixed vs. Variable Unit Costs
ACTA Model
Pooled Account, Fiduciary Trust
Intermediation, Asset Transformation
Interchange Fees
Cash In/Cash Out (CICO), Agent Rebalancing

Module 4

Competition and Disruption

Co-opetition
Disintermediation
Peer-to-peer Lending, Crowdfunding, Online Specialists (Lenders and Remitters)
Price Comparison Sites, Service Aggregators
Decentralised, Distributed and Open Ledgers; Consensus Protocols, Voting, Mining
Blockchain, Bitcoin, Ripple
Network Effects, Winner Takes All

Module 5

Understanding Customers

Pain Points of Cash
Customer Segments and Stages
Three Tensions: Discipline vs. Flexibility, Privacy vs. Social Display, Certainty vs. Surprise
Transaction Pools: B2P, G2P, B2B, etc.; Micropayments
Behavioural Economics, Heuristics, Framing; Cognitive Biases
Quantitative vs. Qualitative Analysis; Financial Diaries

Module 6

Designing Customer Experiences

Customer Journey, Product Lifecycle
Marketing Levers: 4Ps
Human-centred Design
Lean Marketing
Customer Experience
Products vs. Tools, Mass Customisation
Customer Centricity, Customer Empowerment

Module 7

Mobile and Data Environments

Magstripe vs. Smart Card with Chip; Swipe vs. Dip Card
NFC, Barcode Stickers, Mobile POS
Big Data
Channel, User Interface; USSD, SMS, STK, Apps, HTML5
Identity, Persona, Credentials, Tokens, Authentication Factors
Anonymity vs. Pseudonymity, KYC
APIs

Module 8

Safety and Security

Encryption, Symmetric vs. Public Keys, Digital Signatures
Authorization, Accounting; Operational and Technology Risks
Risk-based Policies: Transaction Thresholds, Pattern Detection, Customer Profiling
Virtual Cards
Secure Elements, Host Card Emulation
Tokenisation

Module 9

Regulating Digital Financial Services

GPFI Principles
Strong vs. Weak Authentication
Branchless Banking
AML-CFT, FATF, New Payment Methods
Access, per se Prohibition, Dominance and Abuse of Dominance
Market Conduct
Regtech

Module 10

Industry Collaboration

Designation, Oversight, Systemic Risk
PSMBs
General Guidance on Payment System Development
Interconnection vs Interoperability; Levels; Requirements; Mandates
National Switch; Clearing Models; Utility Operators
Codes of Conduct
Cashlessness, Cash Lite

Course Details

First Intake

Start Date

Enroll By

Second Intake

Start Date

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Third Intake

Start Date

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Duration

Delivery

Course Information

Curriculum Outline

Module 1

Module 2

Module 3

Module 4

Module 5

Module 6

Module 7

Module 8

Module 9

Module 10

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