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Financial Engineering and ICT in the Past

In: The Palgrave Handbook of FinTech and Blockchain

Author

Listed:
  • Rupesh Regmi

    (Nanjing University of Aeronautics and Astronautics (NUAA))

  • Zhuo Zhang

    (Nanjing University of Aeronautics and Astronautics (NUAA))

Abstract

In a holistic approach, the term “Financial engineering” implies integrating applied econometrics and advanced computation to devise tools, models, and strategies for addressing finance-related problems. Information and Communication Technology (Technologies) or ICT is the infrastructure and components that enable people and institutions such as businesses and governments to interact in the digital world. This chapter consists of five sections. An informative overview of the discipline, including the conceptualization of both financial engineering and computational finance, is discussed in the first section. The second section provides a synopsis of the evolution of financial engineering from the early 1700s to present-day Fintech. An overview of algorithm concepts and software implementation and their significance in financial engineering is in the third section. The fourth section delves into ICT, discussing the rise of modern computers and the digital revolution. The final subsection explores the importance of ICT in finance.

Suggested Citation

  • Rupesh Regmi & Zhuo Zhang, 2021. "Financial Engineering and ICT in the Past," Springer Books, in: Maurizio Pompella & Roman Matousek (ed.), The Palgrave Handbook of FinTech and Blockchain, edition 1, chapter 0, pages 53-70, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-66433-6_3
    DOI: 10.1007/978-3-030-66433-6_3
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