Best Fintech Courses in 2022-23

Fintech is the field that employs technology for innovating and delivering value in the financial services industry. Companies in the banking, financial services and insurance (BFSI) space rely a lot on fintech to develop cutting-edge applications and programs that improve the BFSI industry’s ability to serve their customers better. The online payments business, mobile banking and crypto currency space are some of the big beneficiaries of fintech.

Resultantly, jobs in fintech are in great demand. And so, the courses that prepare people for these jobs are much sought after too.

The online education platforms that offer courses in fintech include Coursera, edX and Udemy. In India, the premium institutes that offer these programs include all the IIMs, other recognized B-Schools and BITS-Pilani. The course fees are in the region of Rs.2 Lakh to Rs.3 Lakh.

The future is very bright for people who are qualified in fintech. According to industry estimates, there are over 2000 fintech companies in India. These include trail-blazing, fast-growing, companies like Paytm, Mobikwiq, CRED and Policy Bazaar. The industry is presently valued at US $60 billion. By 2025, the valuation is set to grow three-fold.

Let’s look at the courses in fintech that can prepare you for a lucrative career in this space.

The value of a fintech course

The whole idea of innovative technology solutions improving the services and offerings in the BFSI industry has caught the imagination of investors, companies and customers alike.

Both established, brick-and-mortar, institutions and freshly-minted startups have embraced fintech. From digital book-keeping to online payments to digital money, the financial services industry is witnessing a huge revolution.

Fintech encompasses applications and programs used to automate processes in insurance, banking, trading, finance and risk management. Fintech has brought almost all of these processes to applications that can be accessed by pressing a few buttons on a smartphone.

Skilled and talented people, who have the ability to develop and implement IT solutions, or who can contribute to such development and deployment, in the fintech space are already in great demand.

A majority of the professionals of the future are likely to be from fintech. Therefore, any course that helps people skill themselves in the fintech space is invaluable.

Why qualify in fintech?

The answer is simple. The number of fintech companies has grown by 61 percent in the last five years In India ?. So, there are a lot of jobs on offer in this sector.

Although the pandemic slowed down some sectors, fintech companies grew in valuation. In India, over 50 fintech companies are valued at over US $100 million.

The fact that this is the sector to watch out for is reiterated by the way top global educational institutions are offering programs in this space. From Stanford to Harvard to MIT (Massachusetts Institute of Technology) to NYU (New York University), every premier institution is offering a slew of certificate, diploma and degree programs in fintech. Some of these schools are also offering MBA programs in fintech.

With a qualification in fintech, a world of opportunity opens up in online banking, digital payments, asset management, insurance, loans and mortgages, and in traditional finance and banking.

Who should join a fintech course?

Join a course in fintech if you are:

• Creative, innovative and like a lot of fast-paced action.
• A value creator who likes to build something new that impacts the lives of people.
• Having a keen interest in finance and technology.
• Good at math and a computer science enthusiast.
• Having knowledge of, or experience in, coding and programming.

Top fintech courses

Most courses in fintech are available online. Here’s a quick listing.

What gets covered in a fintech course

A good fintech course typically has the following content:

• Introduction to fintech.
• Programming skills.
• Digital and alternative finance.
• Artificial intelligence and machine learning.
• Fintech regulations
• Data and fintech.
• Cryptocurrencies, payments and blockchain.
• Cybersecurity.

The skills required

The following skills are required to pursue a course and to qualify in fintech:

• Complete understanding and knowledge of blockchain technology.
• Problem-solving skills.
• Communication skills.
• Wholesome knowledge of cybersecurity.
• Coding and programming skills.
• Soft skills.
• Knowledge of finance.
• Analytical skills.
• Ability to work in a team.
• A genuine interest in math and in numbers.
•  Leadership skills.

Job and career prospects in fintech

When you qualify with a fintech certificate, diploma or degree, you are getting on the road to a high-growth career.

• Blockchain Developer: You can join the fintech space as a blockchain developer and work your way up to becoming an expert. The annual salary package averages at over Rs.6.00 Lakh.
• Financial Analyst: forecasting incoming and managing budgets. The annual salary package averages at over Rs.5.00 Lakh.
• Product Manager: You get to manage the entire life cycle of a product. And, with some initiative and leadership, you can also conceive new products. The annual salary package is premium; it averages at over Rs.16.00 Lakh.
• App Developer: The annual salary package averages at over Rs.4.50 Lakh.
• Cybersecurity Expert: You will learn the fine art of risk assessment and evaluating vulnerabilities. The annual salary package is high; it averages at over Rs.11.00 Lakh.
• Data Scientist: You will gain expertise in converting raw data into insightful information that drives decision-making. The annual salary package is high; it averages at over Rs.10.00 Lakh.
• Compliance Expert: Compliance expert can be a risk control manager, a business development manager or a data specialist. The annual salary package averages at between Rs.4.00 Lakh and Rs.12.00 Lakh in these roles.

Typically, junior-level salaries are at Rs.4.5 Lakh annually. At the middle level they are at Rs.8.75 Lakh annually. And at the senior level they are at Rs.23.50 Lakh annually.