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Professor Michael Imerman’s journey into the world of FinTech is a testament to the power of foresight, resilience, and an unyielding belief in innovation. Today, he serves as an Assistant Professor of Teaching at the Paul Merage School of Business at the University of California, Irvine, where he also runs the Master of Finance program. His recent keynote at the Future of Finance event, hosted by UC Irvine, not only celebrated his groundbreaking research but also marked the release of his new book, The Economics of FinTech: Understanding Digital Transformation in Financial Services.

The Path to FinTech

Born and raised in New Jersey, Imerman’s academic path began with a Ph.D. in Finance and Applied Economics from Rutgers University, followed by a prestigious NSF-funded postdoctoral fellowship at Princeton University. It was there that he first dived into what is now widely known as big data analytics and financial data science. “At the time, the NSF grant was actually for high-dimensional statistical learning and inference—a very long way of saying ‘Big Data Analytics,’” Imerman recalls.

His early career focused heavily on banking and risk management, with his dissertation exploring the regulatory and risk management implications of the 2008 financial crisis. However, it was during his tenure at Lehigh University that FinTech truly captured his interest. “FinTech just kind of fell in my lap. It was brand new at the time... and there was no academic interest in it at all,” Imerman shared. Despite skepticism from his colleagues, who warned him that it would not lead to publications or career advancement, he pushed forward. His persistence paid off when his research was first accepted at a sustainability conference in Cambridge in 2017.

This leap of faith would prove transformative. Imerman became one of the early academic voices championing the study of FinTech, leading to journal special issues, new academic programs, and global recognition. His decision to embrace FinTech has since been vindicated, with programs around the world now offering majors, minors, and master’s degrees in the field. “One of my former colleagues told me that I really put my stake in the right part of the ground when I opted to go into FinTech,” Imerman says.

The Economics of Technology

Released on April 22, 2025, his book, The Economics of FinTech encapsulates a decade-long journey of research and thought leadership. The book is positioned as a comprehensive guide to understanding the seismic shifts occurring across the financial services landscape. It explores FinTech verticals—like payments technology, digital banking, Insurtech, and PropTech—and horizontals, including cloud computing, AI, machine learning, and big data analytics. “These technologies are not merely enhancing financial services,” Imerman says, “they are fundamentally reshaping them.”

One of the most compelling aspects of the book discusses the impact of the COVID-19 pandemic. “The pandemic provided such a tailwind behind the adoption of these new technologies,” he says. “Things that we wrote about in the initial draft of the book in 2019 and 2020 had to be completely rewritten because they became quickly outdated.”

Future of Finance Event: Celebrating Innovation

Imerman’s keynote at the recent Future of Finance event expanded on this theme of rapid technological advancement, emphasizing how the pandemic accelerated the shift from cash to mobile and contactless payments, particularly in markets where digital transactions were lagging.

The Future of Finance event marked both the release of Imerman’s book and a significant gathering of business leaders, academics, and students. “The auditorium was packed... at one point there was standing room only,” Imerman says.

Imerman’s keynote, titled Digital Transformation Across the Ecosystem: Oh What a Difference a Pandemic Makes, was a detailed walkthrough of FinTech’s evolution over the past decade. He described FinTech as an ecosystem with distinct verticals and horizontals that span across financial services. From payments technology to PropTech, Imerman explored how digital transformation is not just a trend but a paradigm shift in financial operations.

He concluded his address with a forward-looking perspective, asking, What does the future hold? This question was handed off to a panel of industry experts. The panel, moderated by Dean Williamson, asked each panelist to share their insights into the next decade of financial innovation.

A Vision for the Future

Reflecting on his journey, Imerman emphasizes the importance of seizing unexpected opportunities. “Sometimes, you really can't predict where your career is going to go. You’ve really got to keep your eyes and ears open because an opportunity can present itself when you least expect it,” he says.

As FinTech continues to evolve, Michael Imerman remains at the forefront of academic exploration and practical application. With his new book, The Economics of FinTech, he hopes to inspire the next generation of financial innovators, equipping them with the knowledge to navigate and lead in a rapidly transforming landscape.