FinTech Trends In Education for 2021
By James (Jiaqi) Wang, 1 Dec 2020
FinTech is everywhere and people can now see how technology is changing finance in all areas. The price of Bitcoin has doubled many times, Internet giants like Facebook are ready for a deep dive into payment services. In China, the Alipay can process more transactions per second than Mastercard. FinTech has impacted people's lives in various ways. With the rapid development of FinTech related industries, there is also a need for more people with knowledge of FinTech.
So what majors are you studying that will make you successful in the FinTech field? Here are some FinTech trends in education for 2021.
#1 Big Data and Data Analysis
It is not difficult for businesses to collect data, businesses have the ability to collect large amounts of data based on their loyalty programs, sales, website traffic, and numerous other data points. However, businesses need to know how to use this data in their favour in order for it to be useful for the operation. Big data and data analysis helps firms of all sizes understand and manage the data they gather, by creating tools and processes which convert it into meaningful data. In this way, firms can analyze patterns, trends or links. In addition, it can produce reports that will help them track new insights in order to then create effective plans in their industry.
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#2 FinTech, Security and Regulation
Many people argue how reliable FinTech is when it comes to security. For example, some Neobanks are deemed safer than traditional banking. Some traditional banks are quite slow when adopting cybersecurity measures. The foundation of FinTech companies is technology, but some traditional banks treat this as a simple necessary appendage to their current tested models. So for FinTech companies, security and regulation is very important. FinTech companies therefore also need a high demand of talent in this area.
>> Explore our Micro Credential Course: FinTech, Security and Regulation
#3 Blockchain
Blockchain is a very important part of FinTech. On one hand, it increases the security of transactions and on the other hand, it increases the speed of transactions. Blockchain’s use in digital identity management provides additional security for both institutions and customers. Further, blockchain will integrate with more devices in the world of the Internet of Things. Going forward, more firms will turn to blockchain to decrease fraud and manage both regulatory and audit concerns. Seamless transactions will not only benefit businesses but also consumers. Financial institutions also use blockchain to expedite asset and money transfers and payments.
>> Explore our Micro Credential Course: FinTech and Blockchain Basics
#4 FinTech Management
FinTech companies differ from traditional businesses in many ways. This requires the leaders of FinTech companies to be able to understand the FinTech industry and create the right management measures for the company. With the rapid growth of the FinTech industry, managers with background knowledge about FinTech are also rising with demand.
>> Explore our Graduate Certificate in Financial Technology Management (GCFT)
With the perpetual growth of FinTech in the near future are you looking to kickstart your career in FinTech? Explore our FinTech & Research Programs on offer or read our Frequently-Asked-Questions (FAQs) below.
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