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Are you interested to know about what is FinTech and want to know how I can get into it and make a career in FinTech then you should definitely read this article?
In this article, we will shed some light on FinTech and what are the things you need to know to make your career in it.
These are the following information you will get through in this article of “How to Make Your Career in FinTech”
- Education Qualification
- Best FinTech Online Courses
- Skills needed to be in FinTech
- Various Career Paths
- Future of Financial Technology
What is FinTech and What it means?
FinTech is a blend of the words “financial” and “technology”. Being a comparatively new concept, this rising technology has extensively been assisting banks or financial institutions in rendering financial services in various ways that are considered to be unique and rapid.
Gone are the days when financial institutions used to deliver services relying on those unwanted traditional methods.
With the emergence of new technology, these institutions have not only learnt about but comprehended the way how things work digitally.
With a plethora of ways available, FinTech has rapidly been giving a new dimension to the world of finance for consumers.
Who knew that they would be able to make the most of their smartphone turning it into a “digital wallet” one day? This digital wallet lets consumers shell out for things with the money lying in their account.
FinTech, regarded as one of the fastest booming sectors of the current economy, uses the technology that has made one’s life an easier affair. For instance, anyone can open their bank account over the internet, without having to walk into a bank in person.
No need to interact with the person at the other end anymore. Furthermore, you get your balance in real-time on your smartphone with the help of FinTech. Can it get any better?
Education required to get into the FinTech Industry
Are you looking to make a career in FinTech? Then getting a basic graduation degree will serve you better. As far as operations and marketing are concerned, possessing a minimum graduation degree is a good idea.
If you have a degree in computer science or mathematics, then it would make easier to understand financial technology. The technical and analytical background of yours would definitely provide some advantage.
You would surely understand the importance of an essential role played by formal qualifications. Not only do they assist us in learning and adapting, but growing as well.
However, it is essential that you have the complete information of the FinTech industry before you choose to embark on your journey.
Being a part of this industry can put you in a dilemma if you lack much-needed knowledge. But don’t you fret? You need to understand the combination of advanced finance and complex technology.
A qualification in this vast industry will give you an idea of what FinTech is all about.
What are the Skills Needed to Make a Career in FinTech?
FinTech is a unique domain that has been booming consistently and new improvements take place every minute.
If you’re looking to make your career in FinTech, there are multiple job opportunities that can excite you.
For becoming a Software Developer or Finance Assistant or dealing with IT Support, there are skills and knowledge every aspiring candidate must possess. They can be
- Soft Skills
- Problem-solving Skills
- Analytical skills
- Team working Skills
- Programming knowledge
- Finance knowledge
Varying from operations and marketing to engineering, different disciplines available in this domain can give you a good hands-on experience of this trending industry.
Tools and Software / Application Used by FinTech Professional
These are some of the most crucial tools/software used by FinTech professionals.
- Peer-To-Peer and Apple Pay
- Artificial Intelligence
- Accounting Software
- Faster Payment Rails
- PeerStreet and WorldRemit
- Peer-To-Peer Lending
- Decision Logic
Colleges/ Institutes to Learn Finance Technology (FinTech)
These are some of the most reputable colleges or institutes where one can learn about and understand financial technology (FinTech)
- MIT (Massachusetts Institute of Technology)
- University of Hong Kong (HKUx)
- Stanford University
- Georgetown University
- University of Pennsylvania
- University of California Berkeley
- Columbia University
- University of Southern California’s Marshall School of Business
- Duke University’s Fuqua School of Business
- New York University Stern School of Business
Instead of joining long duration programs in the colleges to get into FinTech you can achieve your goal by joining online courses of top-notch Universities. This will save your time and money.
Know the 7 Best FinTech Online Courses, which help you to get into FinTech.
Is Certification Needed to Make a Career in FinTech ?
Looking to get into the FinTech industry? What you need is the Certificate in Finance and Technology – one of the only providers of FinTech qualifications on an international level.
The CFT (Certificate in Finance and Technology) is a leading institute that provides unique qualification which is designed by highly qualified industry professionals.
With offices in New York, London and Hong Kong, the CFT uses innovative methods that help one acquire the right skills and necessary knowledge you need to achieve success in the industry you are dealing with.
In the knowledge base Professional Certificate program in FinTech, not only will you take a plunge into the massive pool of FinTech, but you will also get to learn about a plethora of great opportunities and challenges as well.
This professional program will serve you with much-needed tools which will give you an insight into the FinTech world. Furthermore, they will make you comprehend the interaction between finance and technology.
Also, you will get to learn about the major technologies involved as well as growing business models.
To get the CFT certification you have to pass their exam. However there are many institutions which provides the course completion certification and you don’t have to sit for an exam. Those institution courses even cost you way cheaper than CFT which we will talk next on this article.
Now come to our question; Is certification really needed to be in FinTech? Not really! Your knowledge and skills of Financial Technology matter the most.
Best Online Courses for FinTech
These courses help you to learn all the required skill set that you need to know to get into FinTech.
Why are these FinTech courses best?
[Reason 1] These courses are risk-free means after joining the class if you are not happy with the course you could get your money back without any question ask.
[Reason 2] The Instructors in these courses are industry experts and have been taught hundreds and thousands of students.
This is one of the best FinTech online course available on the Internet. I would highly recommend you to enroll in this course.
After successful completion of these online FinTech courses, you will get a course completion certificate that states you have substantial knowledge in Financial Technology.
For Whom these Online Courses are Designed for?
All those individuals that seem to be working in finance, technology or FinTech or those who’re studying subjects with respect to FinTech or those who express their keen interest in understanding about one of the most adopted processes.
Each course makes way for the premier experts in FinTech ranging from diverse backgrounds. These consist of entrepreneurs, professors and market professionals. All the courses related to FinTech will provide the budding candidates with the tools required to make their career in this industry.
People willing to transform future in FinTech will be able to get the most out of each week of the course. They will get to expand their knowledge about the major trends in finance, technology as well as regulation.
These courses prepare will them in the most systematic way not only for the opportunities but those risks and challenges they may face in the times to come.
The University of Hong Kong is one of the top-notch universities in the world maintaining a great reputation in finance, technology and law. This university offers not only undergraduate but postgraduate degrees in FinTech.
Who can Sign Up for the online course? Eligibility Criteria
There is no prerequisite to take online courses. Anyone who is in college or has just pass their college degree good to go for online courses.
What are the Things You’ll learn in FinTech Programme?
- Introduction to FinTech and the major areas in FinTech including Money and Payment, Digital Finance and Alternative Finance.
- FinTech Regulation and RegTech (Regulatory Technology) and how to apply
- Impact of new technologies on markets, companies, economies, and individuals
- Cryptocurrencies, Blockchain, AI and Big Data
- How AI (Artificial Intelligence) and Machine Learning is Transforming the Future of FinTech
- Data and the importance of security in data-driven finance
- Cloud Computing Fundamentals and its advantages and disadvantage
How to Get into FinTech Industry [5 Steps]
With tons of money in the FinTech industry, many out there are on the lookout to land a decent job. Their one and only goal are to reap a plethora of excellent benefits sustaining in this industry but in order to sustain, they need embark on their journey leading to FinTech.
Let us take a look at five steps that will help you land the job you are looking to in every possible way.
[Step 1] Make Sure Do Your Homework
FinTech seems more like a buzzword these days as more and more people can be heard having a conversation about this rewarding industry. Even I ran into some students at job fairs who were exchanging their views on FinTech.
With several various segments available within it, it is very important that you search for the right job depending upon your education and abilities. Prior to making your search for the job, researching the history of the industry you’re likely to penetrate into will be the smartest move you will make.
Besides, it is crucial for you to know how the industry has developed and what its future is going to be.
If the research on your chosen industry creates an interest in FinTech, then focusing on diverse needs of the consumers and other companies driving the industry is a wise decision you will ever make.
There has been a number of start-up companies that are a part of Fintech industry. You need to search for the companies that can give you an opportunity to make your way through this industry.
Making a research will make you learn all that the company does, how they do and who is the person responsible for leading the team.
Is the company a start-up? If so, then you need to ensure that the company has a strong financial background. They should also have a management team. Being a college grad will make you choosy about the companies that match your interests.
[Step 2] Be Devoted to Your Motivations
Passed out from college? What next? You will look for jobs, won’t you? Well, you may feel enthusiastic and think that you are loaded with the necessary knowledge. At the same time, you may feel anxious worried about yourself that you do not have the required skills and/or experience to put up tough competition with other applicants.
Don’t you forget motivation is the main key to land that job you are hunting in the FinTech industry? Once you are determined that you want to make your career in FinTech, then you need to strike when the time seems right and make it work in your favour.
[Step 3] Display Your Ability to Work in FinTech
Looking to work in FinTech? If you want a suitable job in the FinTech industry, you must have relevant experience under your belt because that’s what companies want to see.
These companies want to make sure that hiring you is the smartest move they have made and that you will serve them better making them stand out from the competition sooner or later.
FinTech can be regarded as the advanced form of finance. Keeping this in mind, it’s crucial for you to know not only about the money but about tech as well. These two entities go hand in hand.
If you want to make it to the top, you need to prove that you have the ability to work within the environment that changes steadily. Well, getting the desired experience in an industry like Fintech seems quite tough, but it is certainly not something that cannot be achieved.
It is important for you to know that a qualification in Fintech will work to your advantage. It will help you understand how the industry functions and what all you need to learn to work within the industry.
When you are done with the Fintech training course, it lets you demonstrate to prospective employers that you have the desired skills to prove your worth in the job.
[Step 4] Describe Skills and Experience
Have you comprehended that FinTech is an industry that takes immense pride on its innovation? If so, it’s time you describe your skills and experience you have attained through things like projects, coursework, trainings and so on.
I’d recommend you to make a list of all the projects undertaken at the school level and work experiences you have been earned.
If you do not have any Financial and Technological skills get Sign Up with one of the online courses I recommend in this article; Best FinTech Online Courses
[Step 5] Get Hold of the Industry in a Proper Way
FinTech is a rewarding industry that merges two complicated worlds: finance and technology into a confusing combination of modernization and creativeness. Considering this, it seems so clear why it is imperative for you to understand the industry you’re striving to get into.
On being interviewed, the person on the other side of the table will show their keen interest in seeing some knowledge from your end.
A start-up company would never be interested in hiring the candidate whom they need to explain the ins and outs of the FinTech industry without a break.
If they do, the entire process will not only become a time-consuming but a boring affair. Well, a start-up company will not expect to know everything and anything, but make sure you know something about the industry significantly.
Top 10 FinTech Companies in the World?
Here is a list of top 10 FinTech companies in the world that can give banks a run for their money:
What are the Job Roles You’ll get in FinTech? (Career Paths)
The FinTech sector is really booming with each passing minute. Below is a list of various new roles in the industry. You can go with any of the Job roles according to interest.
- Financial Analyst
- Blockchain Developer
- Risk Manager
- Apps Developer
- Compliance Expert
- Product Manager
- Software architect
- Quantitative Analyst
- Cybersecurity Analyst
- Business Development Manager
- Data Specialist
Future of Financial Technology and Career Scope
Well, there are seven things that are likely to shape the future of FinTech. These include:
- Enhancing Diversity
- Boosting Collaboration
- Enlarging Scope
- Shifting Regulations
- Developing Ecosystems
- Controlling Valuations
- Approaching Alliance
While the FinTech industry has made an abrupt change over the past few years, it is crucial for you to remember that this lucrative industry is still in the early days. There are financial institutions that are making good use of data for establishing a connection and interacting with customers scattered in every nook and cranny of the world.
84% of insurers will increase FinTech partnerships over the next 3-5 years. (Source: PwC)
So if you are looking for better career option which includes your both interest ‘finance’ and ‘technology’ then you should definitely go ahead and make your career in FinTech.