In the previous module, we've looked at the key financial theories and emerging analytics in credit assessment, scoring and analysis. The next couple of modules are all about practice. About how innovators and incumbents are combining these methods with new technologies to provide better access to capital more efficiently and to a larger population of individuals and institutions. Let's use an example to illustrate our plan of action. As an individual or a company, think about the last time when you thought, well, I'm going to need some money for XYZ. Maybe to buy something, pay off some debt, or to invest in some new projects. Now, how would you go and get that capital? You're probably thinking about banks, borrowing from friends, etc., right? Just to formalize this, an entity could get capital in two ways. One is debt, that is borrowing money. The other is equity that is selling some control or other rights for money. On the debt side, we can borrow from banks with a loan, mortgage, or credit card. Or if you're a company, you can also try to reach out directly to investors by issuing corporate bonds. On the equity side, there's public equity that is issuing stocks in an IPO or subsequent offering, and there's private equity and or venture capital. Where younger companies can privately sell stakes to investors. And these are the standard vehicles for you to get capital. In this and the next modules, we'll look at the new fintech vehicles that build upon these channels and enable new ways of capital raising. First, on the debt side, we'll talk about platform lending which directly connects the lenders and borrowers and allows individuals and companies to mostly bypass the bank and borrow directly from investors. Then on the equity side, we'll look at how private equity raising is being complemented by new crowdfunding platforms, which allow individual investors to directly access startup projects. Finally, on the public equity side, we'll look at Initial Coin Offerings or ICOs, which is a crypto-based take on fundraising. And particularly we'll compare and contrast this vehicle with are more familiar stock IPOs. After these modules, you'll have a good grasp of both the operations and the business models of the new credit tech innovations.