If you're interested in a career in finance, you may be wondering which degree to pursue. A growing field that combines finance and technology is fintech. But what is a fintech degree and what can you expect to learn? We met Dr. Theo Owusu and Dr. Donald DeSormoux, two experts in the field, to discuss the basics of fintech and why a degree in fintech is worth it. So if you're ready to learn more about this exciting field, read on!
What is Fintech?
Fintech, short for financial technology, is a fast-growing industry that refers to the use of technology to streamline and improve traditional financial services. Fintech companies typically use innovative technology to provide consumers and businesses with more convenient, secure, and affordable services than conventional financial institutions. In recent years, fintech has been one of the fastest growing industries in the world, with new startups emerging all over the world.
Many experts believe that the global fintech industry will grow exponentially in the coming years and that fintech will revolutionize the financial sector as we know it. Fintech is already disrupting traditional financial institutions and offering new opportunities for both consumers and businesses. If you're interested in the future of the economy, fintech is definitely something you should keep an eye on. And as more and more people use digital devices and mobile apps for their daily banking needs, it's likely that fintech will only continue to grow in popularity.
Examples of Fintech
Some of the most common examples of fintech include:
- Mobile banking
- The peer-to-peer payment
- Investment management apps
- Digital currency
- Cryptocurrency exchange
- Budgeting and personal finance apps
Fintech startups are constantly developing new and innovative ways to improve financial services. As the sector continues to grow, we can expect to see even more notable examples of fintech in the coming years.
How Fintech can already influence you
You may not realize it, but fintech is already influencing your life. From mobile banking apps to cryptocurrency, fintech is changing the way we manage our money. Here are some ways fintech can already impact you:
- If you've ever made an online purchase, you've used fintech. Online payments are processed using electronic means, such as credit cards or PayPal. This is a convenient way to pay for goods and services without carrying cash.
- Mobile banking apps are one of the most popular applications of fintech. These apps allow you to check your balance, transfer money and pay bills from your smartphone. If you use a mobile banking app, you are using fintech.
- If you've ever used a rideshare app like Uber or Lyft, you've used fintech. Rideshare apps use GPS technology to connect drivers with passengers. The ticket is then calculated and paid electronically, without cash.
- Fintech is also being used to develop new types of currencies, such as Bitcoin. Bitcoin is a digital currency that allows users to conduct peer-to-peer transactions without the need for a central bank or intermediary.
And while some aspects of fintech are still in the early stages of development, this technology will likely continue to have a significant impact on our lives. As fintech continues to evolve, we're likely to see even more changes in the way we manage our finances.
Fintech companies
Fintech companies are rapidly changing the financial landscape. From mobile apps that help you budget your expenses to online platforms that make investing easy, fintech companies are offering new and convenient ways to manage your finances. By providing smart solutions to common problems, fintech companies are making it easier than ever for people to manage their money. Some fintech companies you may already be doing business with include:
- PayPalis a popular online payment system that allows users to securely make payments and send money over the Internet.
- Squareis a mobile payment system that allows businesses to process credit card payments via their smartphones or tablets.
- Muntis a popular budgeting and personal finance app that helps users track their expenses and save money.
- Robin Hoodis a commission-free stock trading app that allows users to buy and sell stocks without paying fees.
- The prosperity frontis an automated investment management service that helps users save money on investment fees.
- Jerkis a mobile app that allows users to save and invest their extra money.
- Improvementis an online investment platform that offers users a simple and convenient way to invest their money.
In many cases, fintech companies can offer these services at a fraction of the cost of traditional financial institutions. As a result, fintech companies are becoming increasingly popular and will continue to have a significant impact on the financial sector in the years to come.
Types of Fintech Degrees
If you want to enter the exciting fintech field, you need the right education. Whatever type of fintech degree you choose, make sure it is accredited by a reputable organization. This ensures that industry employers recognize your degree and that you receive the quality education you need to succeed in this competitive field. Here are some of the different types of fintech degrees that can help you find a job in this growing industry:
Undergrad
Students interested in a career in the fintech industry may be wondering whether they should pursue a bachelor's degree in fintech. The answer is that it depends. While a bachelor's degree in fintech can undoubtedly give you an edge in the job market, many colleges have yet to develop such a program, and there are many ways to break into the industry without one. Many fintech companies prefer to hire employees with a financial, computer science or technical background. The most important thing is to make sure you have the basic skills and knowledge in the financial and technology sectors that employers are looking for.
Docent
A fintech master's degree can provide students with the knowledge and skills they need to succeed in this rapidly changing industry. It will typically cover topics such as financial regulation, investment banking, risk management and data analytics. In addition, students are given the opportunity to gain practical experience, either through internships or laboratory assignments in the classroom.
According to Dr. Owusu, this hands-on experience is critical to developing the practical knowledge students need to thrive in a fintech career. For example, in the data analysis course at Keizer University of Applied SciencesMaster of Science in Financial Technologyprogram, students have the opportunity to perform data analysis using the types of tools they will use in their future careers. There is a big gap between reading about how data analysis and visualization work in theory and actually implementing it. A quality master's degree in fintech must therefore include these direct, active learning experiences.
Certificate
If you're interested in a career in fintech but don't want the time commitment of an education, consider getting a fintech certificate. There are a few different ways to earn a certificate in fintech, but one of the most popular are online courses. These courses can be taken at your own pace and typically cover topics such as financial technology, digital banking and blockchain. With a certificate in fintech you can demonstrate your knowledge of this fast-growing sector and show employers that you are ready to work in this exciting field.
A disadvantage of certifications in fintech is that they quickly become outdated. As Dr. Owusu pointed out, certificates can expire every five years, meaning you will then need to reapply for certification. A diploma, on the other hand, never expires. However, while the upfront commitment to a certificate program may be attractive, you must consider the long-term implications of this educational path.
Online vs. In-Person
There are a few important considerations to keep in mind when deciding whether to earn a fintech degree online or in person. One of the most important factors to consider is your learning style. If you prefer a more hands-on approach, a personalized program may suit you better. On the other hand, if you are the type of learner who prefers to work at your own pace, an online program may be a better option.
Another important consideration is your schedule. An online program may be more convenient if you have a full-time job or other commitments that make it difficult to attend classes in person. On the other hand, if you can spend the time attending classes on campus, an in-person program can provide a more immersive experience.
Finally, it is important to consider your budget when making your decision. In general, online programs are cheaper than in-person programs. However, there may be some additional costs associated with an online program, such as computer equipment and software. Ultimately, whether you should pursue an online or in-person fintech program depends on your individual needs and preferences.
Courses you can take in Fintech
A high-quality fintech program will offer courses that span the spectrum of current and emerging financial services technologies so that graduates are well-positioned for leadership roles in modern financial and digital currency environments. Standard courses you can expect in a fintech program include:
- Data analysis
- Artificial intelligence and machine learning
- Digital payments and marketplace lending
- Cryptocurrency en Blockchain
- Datavisualisering
- Fintech law and policy
- Technological innovation
- Financial security
Potential jobs for your Fintech education
The Fintech field is growing rapidly, resulting in an increasing demand for employees with skills in this field. Competition for jobs can be fierce, so it's important to prepare with a thorough understanding of technology and how it can be applied in the financial world. Fintech is a field that is constantly evolving, so you need to be comfortable with change and adapt to new technologies and trends. And many fintech companies are startups, so you need to be prepared for a fast-paced work environment. With these things in mind, if you think a career in fintech is a good fit for you, here are some common fintech roles you can apply for:
- Financial technology analyst
- Blockchain developer
- Quantitative analyst
- AI developer
- Technology Risk and Compliance Officer
- Head technology
- And more!
Is a Fintech Degree Worth It?
As companies become more dependent on technology, the need for employees with both financial and technical skills will only increase. A fintech diploma offers the perfect mix of training in both areas, making you an in-demand employee. As the financial and technology industries continue to merge, a fintech degree can be useful and lucrative.
There are many benefits to pursuing a fintech degree. Perhaps the most obvious is the earning potential. Fintech jobs are among the highest-paying jobs in both the financial and technology sectors, and as demand for fintech workers grows, so will salaries.
In addition to the earning potential, a fintech degree also offers excellent job security. As finance and technology converge, employees with fintech skills will be needed. Even if you lose your job, it will be easier to find another in the same field than in many other fields.
Finally, a fintech education can be extremely rewarding. If you are interested in both finance and technology, a fintech degree gives you the opportunity to combine your two passions into one career. What could be better than getting paid to do what you love?
Keizer University offers an excellentgraduate level financial technologyif you are ready to start your career in fintech. Graduates of our 100 percent online, hands-on graduate program are prepared to deliver enhanced financial services to clients and businesses by leveraging new technologies, helping financial firms manage various financial aspects of their business and providing strategic guidance relating new technologies to companies in a number of industries. Contact us today to learn more about ourmeester in fintech!
