Two cutting-edge modules added to Bank of England programme

Warwick Business School has announced the launch of two new modules for its Global Central Banking & Financial Regulation qualifications delivered in collaboration with the Bank of England.

The new modules - Money, Banks and Financial Innovation and Data Science, AI & Machine Learning - are designed to reflect the most recent technologically-induced shifts in the financial system and the appropriate regulatory frameworks.

Delivered online and part-time, the modules have been developed in partnership with the Bank of England, and can be taken individually or put together to form a Master’s in Global Central Banking & Financial Regulation.

The two new modules are part of a selection of eight modules that attract professionals from central banks, regulatory bodies, and financial institutions from across the world.

“We are constantly updating the programme to reflect the challenges and innovations shaping global finance,” said John Thanassoulis, Course Director and Professor of Financial Economics. “These new modules respond directly to the needs of central bankers, of regulators, and of the wider market who must understand the risks of the new financial architecture, the opportunities presented by the huge amounts of data it generates and the impact of the rapidly evolving abilities of AI.”

Successful completion of one, three, or six modules grants participants a Postgraduate Award, Postgraduate Certificate, or Postgraduate Diploma, respectively. Completing six modules, and then the Research Methods and Dissertation module, results in a full MSc Global Central Banking & Financial Regulation.

The new Money, Banks and Financial Innovation module explores the foundational role of money and banking in the modern economy, examining how money is created and the vulnerabilities generated by the role of banks as providers of liquidity insurance while investing in the real economy.

The module delves into the function of central banks and addresses the question of ‘shadow banking’ and the appropriate regulatory perimeter. It incorporates lessons from past financial crises and investigates how fintech is being integrated into traditional banking models.

“Understanding how money is created and the systemic risks that arise from the new technologies in the payment system is essential for regulators today,” said Professor Thanassoulis. “In a world in which banks can suffer a run of billions of dollars in under 24 hours, we want participants to critically assess how innovation can be harnessed without compromising financial stability.

“The fast-evolving world of fintech with technology like stablecoins is something central banks will need to be ready to benefit from, and defend against. This module will give students the tools to explore these emerging issues and competing technologies.”

Can AI forecast the next financial crisis?

The second new module - Data Science, AI & Machine Learning - introduces participants to the foundations of big data and machine learning, with a focus on forecasting financial crises and optimising regulation.

“AI and machine learning are transforming how banks forecast and manage regulation,” said Professor Thanassoulis. “The huge amounts of textual data generated creates a huge opportunity for those who understand its potential.

“By combining top academic research and the knowledge of the Bank of England we can provide a rigorous, practice-informed education that empowers banking professionals to get the most out of their data as they lead their institutions.

“These new modules are part of our broader mission to support the evolution of central banking and financial regulation globally.”

Discover more about the Global Central Banking and Financial Regulation Qualifications.