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Financial Technologies

Study Financial Technologies
Study Financial Technologies

Financial Technologies

From the advent of digital cash to double-entry bookkeeping, the term "financial technology" can be applied to any innovation in how people transact business. Financial technology has grown explosively since the internet revolution and the mobile internet/smartphone revolution, and fintech, which also referred initially to as digital technology applied to the backroom of banks or trading firms, now refers to a wide range of technological interventions into personal and commercial finance.
Fintech now refers to a variety of financial activities that can be performed without the assistance of a person, such as transfers of money, depositing a check with your smartphone, bypassing a local bank to apply for credit, raising funds for a business startup, or managing your investments.

Read further to know what important content will be covered under this topic?

  • History of Financial Technologies & its current relevance
  • Top Universities in Europe offering the Financial Technologies studies at Bachelors & Masters level
  • what is the eligibility criteria to get admission into Financial Technologies at Bachelor & master's level
  • scope of Financial Technologies concerning career demand
  • What career roles can one expect after studying the Financial Technologies field?
  • Salaries Graduates can expect after Financial Technologies studies
  • Top companies employing Financial Technologies in Europe
  • Conclusion
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History of Financial Technologies & its current relevance

Finance's technological advancement (1886-1967)

According to the definition of fintech, which is "new technology that seeks to automate production and use of financial services," the history of fintech can be traced back to the nineteenth century. Investment in communications networks, such as the Torygraph and transatlantic cables allowed financial information to be transmitted across borders from 1886 to 1967.
Since such types of financial technology may not be considered relevant today, they were appropriate at the time.

Finance's technological advancement (1886-1967)

Banks took part in the development of financial technology in the latter decades of the twentieth century, signalling a significant shift from analogue to digital. In 1967, the first touchscreen calculator and ATM were released.
In the 1970s, NASDAQ, the first digital stock exchange, and SWIFT were founded. Bank mainframe computers became popular in the 1980s, and the concept of conducting financial transactions online emerged in the 1990s.

Fintech in the 21st century (2008-present)

The digitalisation of banking services marked the beginning of the twenty-first century. The fintech industry was severely impacted by the financial crisis and the rise of smartphone usage. The global financial crisis of 2008 shattered trust in traditional financial institutions, igniting what is now known as the fintech industry, fueled by a broad-based rise in digitalization.
For example, the emergence of Bitcoin in 2009 had a significant impact on the financial world, and a slew of new cryptocurrencies followed. Various fintech business models began to emerge, including alternative credit scoring, digital wallets, and acceptable small loans, to name a few.

Top Universities in Europe offering the Financial Technologies studies

Bachelors Level

  • University of Sussex Business School at Brighton, United Kingdom
  • GBSB Global Business School at Barcelona, Spain
  • Bocconi University, Italy
  • University of Cambridge, the UK.
  • Delft University of Technology (TU Delft), The Netherlands.
  • ETH Zurich, Switzerland.
  • University of Amsterdam, Netherland.

Masters level

  • Harbour.Space University at Barcelona, Spain
  • Eötvös Loránd University at Budapest, Hungary
  • MIP Politecnico di Milano School of Management at Milan, Italy
  • University of Cambridge, the UK.
  • Delft University of Technology (TU Delft), The Netherlands.
  • ETH Zurich, Switzerland.
  • KU Leuven, Belgium
  • The University of Manchester, UK

What is the eligibility criteria to get admission into Financial Technologies?

Bachelors Level

  • You must achieve a 50% score on the 10+2 exam.
  • (TOEFL — 90 iBT/IELTS 7.0 or equivalent) English language skills**
  • With flying colours, you passed our admissions interview.
  • Basic coding and programming skills are advantageous.
  • Programming abilities
  • Relevant work experience

Masters level

  • A First Class Honours or Upper Second Class Honours degree from a reputable university is required.
  • Programming abilities
  • Relevant work experience
  • (TOEFL — 90 iBT/IELTS 7.0 or equivalent) English language skills**
Study Financial Technologies

Scope of Financial Technologies

Fintech has completely transformed the way businesses and consumers make payments and conduct transactions daily. This is also why Fintech investments are soaring around the world.
The best thing about India's financial industry is that 87 per cent of bills are written in cash, and nearly 40 per cent of the population is unconnected to banks. As a result, it has a large market for such startups that is currently untapped.
Fintech's potential in India cannot be underestimated. Fintech companies use smartphones as a means of communication. As a result of India's booming smartphone industry, the net penetration of this technology is steadily increased.

What career roles can one expect after studying the Financial Technologies field?

Here are a few of the exciting jobs available in this industry:

Blockchain programmer

The demand for blockchain talent is increasing, and so are the salaries. The popularity for job openings is ten to one, with ten representing open positions and one chosen to represent the blockchain developer who is trying to apply for the role.

App creators

Developers of mobile applications are still in high demand. In the financial sector, app developers who are fluent in multiple programming languages, such as Java, HTML5, Objective-C, C++, C#, Python, Swift, and UX and UI design skills, have a lot of success.

Business or financial analysts

Financial analysts examine financial data to identify trends and make projections to aid investment decisions. Similarly, business analysts examine a company's strategy, designs, procedures and workflows, and IT systems to find inefficiencies and areas where operations can be improved.

Product Manager

Product managers must combine out-of-the-box thinking with client empathy and unorthodox techniques to drive business growth, just as fintech is synonymous with quality.

Salaries Graduates can expect after Financial Technologies studies

In Germany, Financial Technologist earns between 30 and 100 thousand euros per year on average.
  • The salary of an Associate Project Manager is €37,198
  • The wages of Financial or business analysts is €28,754
  • The wages of a Compliance expert is €51,140

Top companies employing Financial Technologies in Europe

  • Adyen is the Netherlands
  • Nexi in Italy
  • Klarna in Sweden
  • Checkout in the U.K.
  • N26 in Germany
  • Ledger in France
  • Avaloq in Switzerland
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Conclusion

Fintech startups have ushered in a sea change in how money is sent and received. Businesses can now accept payments more efficiently. There's no need to worry about carrying cash, and other apps use payment methods such as Ola money and their software wallets, making it much easier for people to conduct transactions in their daily lives.
With the growing popularity of this technology and the availability of more fintech courses online, the demand for qualified and knowledgeable individuals is growing, making this an investment worth making.
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