What is FinTech?
Financial technology is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance.
FinTech For The Future
Financial Technology (FinTech) is gaining momentum year-on-year and creating a huge demand for professionals with specific FinTech skills. Traditional accounting and finance industry is getting digitally transformed. To cater to the skill gap in the Financial Services the technology application has become an essential part of the graduate skill.
Traditional financial institutions and FinTech start-ups alike are looking for more candidates who specialise in artificial intelligence, machine learning and data science. According to reporting by Bloomberg reporting and data from LinkedIn, job listings requiring these skills in the financial industry increased nearly 60% in the past year.
To cater to the increased demand for graduates with FinTech skills, APU’s FinTech programmes are designed to prepare our graduates with the necessary knowledge to be highly employable upon graduation. The programmes with FinTech specialism are listed as below:
- Bachelor of Science (Honours) in Information Technology with a specialism in Financial Technology (FinTech)
- Bachelor in Banking and Finance (Hons) with a specialism in Financial Technology
- Bachelor of Science (Honours) in Actuarial Studies with a specialism in Financial Technology
- Master of Finance with a specialism in FinTech
|"FinTech is massively popular. 96% of global consumers are aware of FinTech-driven money transfer and payment services. 3 out of 4 consumers have used an alternative money transfer and payment service."
- EY Global FinTech Adoption Index
60% of consumers want to transact business with financial institutions with a single platform, such as social media or mobile banking apps.
"Global FinTech market investments have seen a 28% year-on-year rise from 2018 to 2019." Tranglo
In 2017, 88% of incumbent financial institutions feared that they would lose money to the disruptive innovation of FinTech companies, but 82% plan to partner with FinTech startups in the next 3–5 years. (PwC)
In 2019, 64% of consumers worldwide have used one or more FinTech platforms, up from 33% in 2017.
|"Financial institutions are becoming more technology focused. We see it as the evolving intersection of financial services and technology. Looking forward, we expect FinTech disruptors to continue to expand into other areas within financial services."
- Pricewaterhouse Coopers (PwC)
|"FinTech is changing businesses and customers rapidly. Those that embrace FinTech will stay at the forefront of their markets; those that don't will lose out on opportunities, customers, and market share."
- Bernard Marr, Forbes