Technology now plays an important role in the financial lives of consumers. Compared with adults over the age of 35, research suggests that millennials are 67% more likely to find new technology exciting and use it as much as they can for banking and other tasks. In this first of a four-part podcast series on technology and personal finance, experts from Wharton and PwC help educators and their students identify the intersection between the two.
New ways of doing things, particularly involving something as intimate as finances, are often met with a degree of skepticism and paranoia. Consumers, financial institutions and others face challenges in the adoption of these various technologies that are changing how we handle our personal finances – everything from online credit card transactions to cryptocurrencies.
Technology is an important aspect of the changing financial landscape in the U.S., particularly as it applies to the skills, judgment and resources needed to manage money effectively. Do more high-tech solutions help students and others to become smarter about understanding and navigating their finances? In part three of our four-part audio podcast for educators on the intersection of finance and technology, Wharton professor Mauro Guillén and PwC’s Liz Diep talk about technology’s impact on financial capability and the socioeconomic challenges that accompany the increased use of financial technologies.
Technology is all about making life easier and faster, but that may not necessarily be a good thing when it comes to teaching comprehensive money management. For instance, technology can’t compensate for a poorly developed budget or cash-management plan. This section explores ways that the classroom learning experience must adapt to this changing fintech landscape.
Listen to the full podcast.
Mauro F. Guillén
Mauro F. Guillén is director of the Joseph H. Lauder Institute at Penn, a research-and-teaching program on management and international relations. His current research deals with the internationalization of the firm and the impact of globalization on patterns of organization. His most recent books include Global Turning Points (2012) and Emerging Markets Rule (2012).
He has been interviewed by numerous media outlets, including The Wall Street Journal, The New York Times, Entrepreneur Magazine, The Economist, Business Mexico, Bloomberg TV, BBC, Forbes, Hispanic Business and Foreign Policy, among others.
In addition to being a former Guggenheim and Fulbright Fellow and a member of the Institute for Advanced Study in Princeton, Guillén was a member of the University of Oviedo team that won the Spain National Basketball University championship in 1987. He holds a PhD in sociology from Yale University and a PhD in political economy from the University of Oviedo.
Liz Diep is a partner with PwC’s asset management practice in New York City, specializing in alternative investments. She is a recognized leader with a 13-year track record serving many of the firm’s most complex alternative-investment clients.
Diep provides assurance and advisory services to asset management clients, with extensive experience in hedge funds, private equity funds, fund of funds and endowments. Her experience ranges from serving start-up managers to serving large global managers. Diep’s client base encompasses funds with a broad array of trading styles, including long/short equity, credit derivatives, global macro, asset and mortgage-backed investing, distressed investing and other alternative investments, as well as funds of funds and private equity funds. Her clients include multibillion-dollar private hedge funds and private equity funds of varying structures and strategies.
Diep is very active in many of PwC’s recruiting and diversity efforts. She serves as the assurance-recruiting champion for New York University and the co-chair of the Latino Inclusion Network.
Diep is also active in many nonprofit organizations and has served as a board member for the Pace University Lubin School of Business Alumni Board and the New York State Society of CPA’s Career Opportunities on the accounting profession board. Currently, Diep serves on the board of directors of the Association of Latino Professionals in Finance and Accounting (“ALPFA”).
Diep, who is fluent in Spanish, earned her undergraduate degree in accounting with a minor in Latin American Studies from Pace University. She is a Certified Public Accountant licensed in New York and Connecticut. She is a member of the American Institute of Certified Public Accountants and the New York State Society of CPAs.
- Investopedia: What Is FinTech?
- U.S. News & World Report: 3 Ways to Engage High Schoolers in Personal Finance
- 10 Personal Finance Apps for Teens
- Financial Literacy & Education Commission
- Global Financial Literacy Excellence Center
- USA Today: In Financial Literacy, U.S. Teens Score Below Latvia
- Huffington Post: The Euro in Flames
- New York Times Topic: Identity Theft
- KWHS: A New Kind of Money: Bitcoin Basics
- KWHS: Digital-age Danger: Learn to Protect Your Identity
- CNBC: Cybersecurity