Finance Fundamentals: Financial Services after the Banking Crisis
Explore the UK financial services landscape, how financial firms and products are regulated, and how consumers are protected.
47,642 enrolled on this course
Duration
4 weeksWeekly study
3 hours100% online
How it works
Finance Fundamentals: Financial Services after the Banking Crisis
See what’s changed in the financial services industry in the last decade
The financial crisis of the late 2000s transformed the UK financial services industry. This online course takes stock and examines the industry today.
You will review the history of the industry leading up to the financial crisis; examine its institutions and the issues they now grapple with; walk down the financial supermarket aisles and see what’s changing with the products on offer; and find out how the industry is now regulated and protects consumers.
The Open University’s Centre for the Public Understanding of Finance created this course, with the generous support of True Potential LLP.
Syllabus
Week 1
The origins and development of financial services
The origins of the industry
The origins of financial services in the UK. The emergence of banks, building societies, and insurance firms. The economic and political events that drove the emergence of financial institutions.
The industry's twentieth century transformation
Stock exchanges and investment firms. The key developments in the late twentieth century. The liberalisation of the financial services industry and ‘big-bang’. The impact of social changes like the growth of home ownership.
Boom and bust in the 2000s
The reforms to the regulation of the industry in the 1990s and 2000s – and again in the 2010s. The 2007/08 financial crisis and the emergency action taken to prevent the banking system from collapsing.
Week 2
Post-crisis: new players, new issues, new rules
After the crisis: new lenders
Banks and building societies after the financial crisis. Competition issues and the ‘challenger’ banks, pay and bonuses, ring-fencing banks. Reining in the ‘pay day’ lenders.
Insurance, investments and financial advice
Insurance firms: gender and genetic issues. The London Stock Exchange evolves. Investment funds and hedge funds. The role of financial advisers.
Technology and the reformation of regulation
Regulation – a bigger role for the Bank of England. The new regulatory environment with the PRA and FCA. How we conduct financial services business: the internet and comparison sites.
Week 3
What’s on offer? The marketplace and current issues
Personal finance in an era of low interest rates
The fight for current account business. Historically low interest rates on loans, mortgages and other debt products. Savers lose out on interest rates but get bigger tax breaks. Shares and bonds see big swings in market prices.
New freedoms in investment products
Investment funds and tax-efficient investing products. Pension schemes. Pension reform in the UK – the benefits and the risks.
Property and choosing insurance products
The focus is on property: running a property portfolio – is buy-to-let coming under threat? Equity release products – making good use of your home or poor value? A decision-making model to use in the financial marketplace.
Week 4
Regulation and consumer protection
Regulating the industry – what do the regulators do?
The UK regulatory structure – and the leading roles played by the FCA and the PRA. How do firms get regulated? The Senior Managers Regime replaces the Approved Persons Regime.
Selling products to consumers – what are the rules?
Consumer protection and rights when products are sold. Good and bad selling practices. The Retail Distribution Review (RDR) and the Mortgage Market Review (MMR) – are these working for consumers of financial services?
Protection and help in the financial marketplace
The multiple safety nets for consumers. CASS, the Financial Ombudsman’s Service, the Financial Services Compensation Scheme. Organisations that can help and provide guidance – the Money Advice Service and Citizens Advice.
Who is this accredited by?
This course is accredited by EOCCS, the first international quality benchmark for online courses in business and management education.
When would you like to start?
Start straight away and join a global classroom of learners. If the course hasn’t started yet you’ll see the future date listed below.
Available now
Learning on this course
On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.
What will you achieve?
By the end of the course, you‘ll be able to...
- Explore the origins and development of the UK financial services industry
- Assess and examine the UK financial services industry and the issues it faces following the 2007/08 financial crisis
- Evaluate and review the financial products available to consumers in the financial marketplace
- Identify and understand how financial services firms and financial product sales are regulated
- Explore the support, advice and guidance available to financial services consumers
Who is the course for?
For further information about registration, the final assessment course, your eligibility and the BA in Business Management, visit the Open University website.
What do people say about this course?
"The twelve weeks of the program has at times been a real learning curve extending my fairly limited knowledge of finance to provide a useful understanding and platform for the future - my appreciation to all the team."
Who will you learn with?
I am Director of the True Potential Centre for the Public Understanding of Finance (PUFin) at the OU Business School. Previously I was Treasurer of Nationwide Building Society.
Who developed the course?
The Open University
As the UK’s largest university, The Open University (OU) supports thousands of students to achieve their goals and ambitions via supported distance learning, helping to fit learning around professional and personal life commitments.
Established
1969Location
Milton Keynes, UKWorld ranking
Top 510Source: Times Higher Education World University Rankings 2020
The Open University Business School
A pioneer in flexible learning for over 30 years, The Open University Business School delivers transformational, high quality business and management education which is quality assured.
Ways to learn | Buy this course | Subscribe & save | Limited access |
|---|---|---|---|
| Choose the best way to learn for you! | $109/one-off payment | $244.99 for a whole year Automatically renews | Free |
| Fulfill your current learning need | Develop skills to further your career | Sample the course materials | |
| Access to this course | tick | tick | Access expires 13 Feb 2025 |
| Access to 1,000+ courses | cross | tick | cross |
| Learn at your own pace | tick | tick | cross |
| Discuss your learning in comments | tick | tick | tick |
| Tests to check your learning | tick | tick | cross |
| Certificate when you're eligible | Printed and digital | Digital only | cross |
Cancel for free anytime |
Ways to learn
Choose the best way to learn for you!
Subscribe & save
$244.99 for a whole year
Automatically renews
Develop skills to further your career
- Access to this course
- Access to 1,000+ courses
- Learn at your own pace
- Discuss your learning in comments
- Tests to boost your learning
- Digital certificate when you're eligible
Cancel for free anytime
Buy this course
$109/one-off payment
Fulfill your current learning need
- Access to this course
- Learn at your own pace
- Discuss your learning in comments
- Tests to boost your learning
- Printed and digital certificate when you’re eligible
Limited access
Free
Sample the course materials
- Access expires 13 Feb 2025
Find out more about certificates, Unlimited or buying a course (Upgrades) Sale price available until 3 March 2025 at 23:59 (UTC). T&Cs apply. | |||
Find out more about certificates, Unlimited or buying a course (Upgrades)
Sale price available until 3 March 2025 at 23:59 (UTC). T&Cs apply.
Learning on FutureLearn
Your learning, your rules
- Courses are split into weeks, activities, and steps to help you keep track of your learning
- Learn through a mix of bite-sized videos, long- and short-form articles, audio, and practical activities
- Stay motivated by using the Progress page to keep track of your step completion and assessment scores
Join a global classroom
- Experience the power of social learning, and get inspired by an international network of learners
- Share ideas with your peers and course educators on every step of the course
- Join the conversation by reading, @ing, liking, bookmarking, and replying to comments from others
Map your progress
- As you work through the course, use notifications and the Progress page to guide your learning
- Whenever you’re ready, mark each step as complete, you’re in control
- Complete 90% of course steps and all of the assessments to earn your certificate
Want to know more about learning on FutureLearn? Using FutureLearn
Learner reviews
Learner reviews cannot be loaded due to your cookie settings. Please and refresh the page to view this content.
Do you know someone who'd love this course? Tell them about it...
You can use the hashtag #FLBFbanking to talk about this course on social media.
More courses you might like
Learners who joined this course have also enjoyed these courses.
Browse more in Business & Management
