Financial Technology (Fintech) Industry and Career Opportunities

Financial technology (also known as Fintech), is a combination of "Finance" and "Technology", bringing optimal improvements and breakthroughs to help innovate traditional financial activities. In particular, the field of Fintech also applies advanced technological inventions such as artificial intelligence (AI), Big data analytics and blockchain technology help improve efficiency and user experience.

Some popular applications applying Fintech can be mentioned such as:

• Mobile payment: E-wallets, QR codes, contactless payments.

• Online banking and finance: Internet banking, mobile banking.

• Crowdfunding: Crowdfunding, peer-to-peer lending.

• Trade and invest online.

In addition to financial services, Fintech also promotes many aspects, including money transfers, payments, loans to investment, and financial management. Applications in the FinTech industry not only learn and develop user habits but also attract users to unconsciously plan their spending and savings more effectively.

When starting to pursue Financial Technology, you need to have an understanding of information technology knowledge, and at the same time equip yourself with professional skills in the financial field. You will be taught core subjects including:

• Big Data and Business Intelligence Studies: You will be taught in-depth about the technology platforms that support the deployment and maintenance of databases, as well as data warehouse access services.

• Techniques in Intelligent Programming Languages (Python) and Machine Learning (Machine Learning): Learn how to apply all techniques of building algorithms and flexible adaptive systems, applying computational techniques to many cases at work.

• Digital Business: Discover the benefits and impacts of digital technology on companies, the commercial sector, and the financial platform.

• User needs and experience: FinTech learns the skills of software prototyping and user experience design to improve services appropriately.

When choosing a Fintech field, you also need to have the basic qualities to achieve long-term success in this industry. Fintech will be an ideal field of study for those who possess the following qualities:

• Have a passion for finance, technology, and engineering

• Ability to adapt to innovations and flexibility to come up with coping situations

• Creative and problem-solving skills

• Analytical and critical thinking skills to find creative solutions to any problem

• Equipped with basic knowledge of mathematics and computer skills

Facing the strong development of the information technology 4.0 era and the field of Fintech, many universities have expanded the teaching of this group of disciplines, typically the National Economics University, the Institute of Post and Telecommunications Technology, the University of Economics and Law of Ho Chi Minh City, and the University of Economics and Finance of Ho Chi Minh City. Ho Chi Minh City (UEF), Ho Chi Minh City Banking University.

In addition, the Financial Technology industry has also been invested in teaching a lot in developing countries. If you intend to study abroad in this major. you can choose to study in Australia, the UK, the US, Canada, and New Zealand.

When you study Financial Technology, you will have the opportunity to experience a variety of working positions. Here are a few jobs you can refer to to orient your career for yourself in the future:

Software Engineer/Programmer

Software engineers are one of the key roles when it comes to bringing new technologies to life. Typically, software engineers will be trained in artificial intelligence (AI), big data or blockchain. Their jobs often revolve around processing financial data, developing software, and optimizing financial performance.

Financial Analyst

Financial analysts will help companies grasp market trends and opportunities based on the information they are provided or researched. Thereby, they will be able to make predictions or recommendations on financial strategies for organizations or individuals.

Cybersecurity Expert

When working in the field of Fintech, you will have to deal with quite a lot of sensitive financial data that needs to be kept safe. Most cybersecurity professionals are responsible for ensuring that applications, systems, and software are secured in order to prevent critical data from being stolen.

You can become a cybersecurity expert by studying financial technology

Designer user interface and experience

UX designers and UI designers define how a software application will look and function from the customer's perspective. Apps should be easy to use and navigate to maximize user engagement.

• If you're a software development engineer in financial technology, you can expect to earn about $97,000 a year.

• If you're an IT entrepreneur or analyst, you can earn about $77,000 a year. Note that these are starting positions, and they may vary depending on the organization. (according to a report from Glassdoor.sg)

If you choose to work at banks, they will often offer a higher salary while startups will usually pay less cash, however, you may receive other perks such as the right to split shares.

Search for the Financial Technology (Fintech) key at IDP!

Hopefully, the above article will help you understand more about the Financial Technology (Fintech) industry as well as the skills needed to develop a job in this field. To refer to schools that teach this field in different countries, you can find out on the IDP website - Study Abroad Advice or contact IDP for all information.

In addition to chatting with consultants, IDP always organizes IDP Study Abroad Seminars throughout the year, creating opportunities for students and parents to meet directly with school representatives, Hunt for scholarships to study abroad, and consider the dossier on the spot. To easily estimate the fees when studying Psychology abroad, you can actively calculate through the Cost of Living Calculator of IDP.

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