Program Goals and Objectives
There is a growing demand for financial technology researchers capable of operating outside the world of structured financial data. This new financial technology research requires researchers to incorporate unstructured data, predictive analytics, artificial intelligence (A.I.), and machine learning insights to drive new financial thinking and processes that deliver innovative financial products and strategies for long-term productivity improvements and economic growth.
The Business School’s financial technology Ph.D. program will prepare a new set of researchers with the appropriate competencies in predictive analytics and programming applications for quantitative risk management, financial forecasting, corporate innovation, and financial modeling. Graduates from the Ph.D. program will possess the financial and applied technical skills to transform business and disrupts business practices through innovations that will undoubtedly shape the nature and boundaries of companies and global economies in the coming years.
The Ph.D. program in Financial Technology (FinTech) strives to educate researchers to:
- Lead in careers requiring educational, research and analytical skills
- Conduct high-quality basic and applied research
- Partner effectively in research initiatives with Business School faculty, and as appropriate, with faculty in other departments
- Disseminate research findings through publication
In our Financial Technology Ph.D. program, students will gain a deep appreciation for advancing knowledge and its practical applications in a technology-driven economy. Whether their goal is to pursue innovative academic research or to take on leadership roles within the rapidly evolving financial technology sector, WPI's Ph.D. program in financial technology provides specialized training for making a direct global impact.
Our students will have the opportunity to collaborate closely with our distinguished faculty members, who possess expertise that extends well beyond the classroom and into the highest echelons of the public and private sectors. Their prolific publishing record includes contributions to some of the most respected research outlets. As a result, our students will develop a robust understanding of finance theory, information technology, and quantitative research methods.
Admissions Requirements
No changes from admission requirements for other Business School’s PhD programs.
Program Requirements
Candidates must complete 90 credits beyond the bachelor's degree, including at least 60 credits beyond the equivalent of WPI’s MS in Financial Technology. Students entering with a Non-Financial Technology MS degree program will likely need to take the Financial Innovation specialization if their background is MA or CS or take the IS specialization in the case of a traditional finance masters.
For students proceeding from master’s (related to WPI’s MS in Financial Technology) to the Financial Technology Ph.D. degree, the 60 credits are distributed as follows:
The result of the dissertation research must be a completed doctoral dissertation. Only after admission to candidacy may a student receive credit toward dissertation research under BUS 699. Prior to admission to candidacy, a student may receive up to 18 credits of pre-dissertation research under FIN 698. All full-time students are required to register for the zero credit BUS 691 Graduate Seminar every semester. Students formally accepted as a doctoral candidate must select a concentration in which to pursue their dissertation research.
Academic Advising
The academic advising process is consistent with our existing PhD process within The Business School.
Upon admission to the Doctoral Program, each student is assigned or may select a temporary advisor to arrange an academic Plan of Study covering the first 9 credits of study. This plan should be arranged before the first day of registration. Prior to registering for any additional credits, the student must identify a permanent dissertation advisor who assumes the role of academic advisor and with whom a suitable dissertation topic and the remaining Plan of Study are arranged. Prior to completing 18 credits, the student must form a dissertation committee that consists of the dissertation advisor, at least two other business administration faculty members, and at least one member from outside the student’s area of concentration. These committee members should be selected because of their abilities to assist in the student’s dissertation research.
The schedule of advising is as follows:
- Dissertation advisor—selected by student prior to registering for more than 9 credits.
- Program of study—arranged with dissertation advisor prior to registering for more than 9 credits.
- Dissertation committee—formed by student prior to registering for more than 18 credits. Consists of dissertation advisor, at least two B.A. faculty members, and at least one outside member.
This schedule ensures that students are well advised and actively engaged in their research at the early stages of their programs.
Admission to Ph.D. Candidacy
Admission to candidacy will be granted when the student has satisfactorily passed a written exam intended to measure fundamental ability in financial technology and at least one additional business specialization developed by the student under the guidance of their advisor. The area of specialization is selected by the student and accomplished through directed research. The exam is administered in January of each year. For students who enter the program with a bachelor’s degree, the exam must be taken after three semesters if they began their studies in the fall, and after two semesters if they began in the spring. For students who enter the program with a master’s degree, the exam must be taken after one semester if they began in the fall, and after two semesters if they began in the spring.
Students in a WPI M.S. program who plan to apply for fall admission to the Ph.D. program are strongly advised to take the candidacy exam in January before that fall. The details of the examination procedure can be obtained from the School of Business Research Policy and Curriculum Committee.
Dissertation Proposal
Each student must prepare a brief written proposal and make an oral presentation that demonstrates a sound understanding of the dissertation topic, the relevant literature, the techniques to be employed, the issues to be addressed, and the work done on the topic by the student to date. The proposal must be made within a year of admission to candidacy. Both the written and oral proposals are presented to the dissertation committee and a representative from the School of Business Research Policy and Curriculum Committee. The prepared portion of the oral presentation should not exceed 30 minutes, and up to 90 minutes should be allowed for discussion. If the dissertation committee and the graduate committee representative have concerns about either the substance of the proposal or the student’s understanding of the topic, the student will have one month to prepare a second presentation that focuses on the areas of concern. This presentation will last 15 minutes with an additional 45 minutes allowed for discussion. Students can continue their research only if the proposal is approved.
Dissertation Defense
Each doctoral candidate is required to defend the originality, independence, and quality of research during an oral dissertation defense that is administered by an examining committee that consists of the dissertation committee and a representative of the School of Business Graduate Policy and Curriculum Committee who is not on the dissertation committee. The defense is open to public participation and consists of a 45-minute presentation followed by a 45-minute open discussion. At least one week prior to the defense, each member of the examining committee must receive a copy of the dissertation. At the same time, an additional copy must be made available for members of the WPI community wishing to read the dissertation prior to the defense, and public notification of the defense must be given by the School of Business School’s Research and PhD Policy and Curriculum Committee (RPCC). The examining committee will determine the acceptability of the student’s dissertation and oral performance. The dissertation advisor will determine the student’s grade.