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Day: April 26, 2023

The Future of Payments: Trends and Innovations in Fintech

Posted on by Imarticus Learning

The fintech industry is constantly changing, and these innovations have a revolutionary impact on the payments industry. Newer and speedier technologies are displacing the conventional methods of exchanging money, from mobile wallets to cryptocurrencies. 

As e-commerce has grown, so has the demand for quick and secure payment methods, making it crucial for financial institutions and entrepreneurs to stay on top of the most recent developments. 

This blog examines the future of payments, cutting-edge trends, and technology revolutionizing business. Join us as we investigate the possibilities of Fintech and the future of payments.

Let’s get started!

How will Fintech shape the future of payments?

There are bigger, more persistent changes already affecting the financial services sector and the whole global economy under the transformation to a cashless society.

Paper checks, analog invoices, and other traditional payment methods are about to undergo a major makeover. New business models are developing as the whole payments sector’s infrastructure transforms.

Two distinct and concurrent tendencies are involved in this restructuring of the payments sector and, in fact, the whole global payments ecosystem. Business is rising for financial companies and technology suppliers. 

The fintech sector has expanded rapidly during the past ten years. The industry had a value of US$3.56 trillion by the end of 2021, and between 2021 and 2025, it was projected to increase at a compound annual growth rate of 23.58%.

What are the latest payment trends in Fintech?

Financial technology (Fintech) has impacted the conventional payments business for many years. Customers now demand a uniform payment experience across platforms and devices due to the growth of e-commerce and mobile payments.

“Innovations in fintech” refers to cutting-edge products and technology upending the conventional financial sector. The term “fintech,” short for financial technology, describes the use of technology to automate financial services, including investment and banking, as well as payments and money transfers.

Here are some of the future payment trends: 

Trend #1: Contactless Payments

The market for contactless payments was valued at USD 34.55 billion in 2021, and from 2022 to 2030, it is projected to grow at a CAGR of 19.1%. The expansion is related to the expanding use of digital payment services intended to facilitate client payments more quickly. 

Intelligent hardware, cutting-edge software, and smart services are all components of contactless payments, which enhance conventional payment methods and bring about intelligent transactions. Card issuers are gradually integrating contactless payment card systems worldwide, helping the industry expand.

Since the client does not directly exchange invoicing or payment information with the seller, contactless payments are renowned for being safe. Instead, all correspondence is encrypted, and a unique transaction number is tokenized for each purchase. The one-time code used to identify a specific transaction will be the only information an attacker will obtain from a wireless communication if it is intercepted.

The COVID-19 epidemic and consumers’ desire to avoid direct human interaction when making in-store transactions increased the introduction of contactless payment. 

Trend #2: Embedded Payments

Embedded payments are another development that is altering how we make payments. Payments that are linked to other platforms or services are referred to as embedded payments. They let you make payments while still using the app or website you’re on.

Both consumers and businesses may profit greatly from embedded payments. They improve conversion and retention rates by generating a smooth and seamless user experience. Additionally, they open up previously inaccessible prospects and new business models.

Trend #3: Future of Payments and IoT

The payments environment is being impacted by the Internet of Things (IoT). According to payments and banking specialists Mercator Advisory Group, this industry expands by 15% annually. Businesses that accept IoT payments have a lot of sales prospects due to the exponential growth of linked items like refrigerators, cars, and machines. IoT payments can be made automatically or partially by particular ‘events.’ 

Trend #4: Emerging markets

 As one of the most desirable development regions, Asia’s inventive startups are increasingly challenging Western financial companies. Such markets are open to technological innovation because people accustomed to antiquated payment methods are keen to accept new ones better suited to their everyday economic demands. 

Omdia predicts that between 2020 and 2024, the number of debit and credit cardholders will increase by 5.8% in the Philippines and 5.50% in Indonesia. This demonstrates how nations with previous payment systems are moving away from using cash.

Trend #5: Digital currency

Digital tokens or electronic records known as Central Bank’s Digital Currencies (CBDCs) represent a country’s money virtually. Over the next 20 years, they are expected to have the largest disruptive influence and private-sector cryptocurrencies.

Financial organizations, including Mastercard, Visa, and BNY Mellon, are getting ready to make it easier to utilize CBDCs. Additionally, a recent poll by the Bank for International Settlements indicates that 14% of central banks are currently undertaking pilot testing, and 60% of central banks are investigating CBDCs.

The Final Words

The future of payments is intriguing and promising. Fintech technologies are revolutionizing the way we pay by enabling quicker, safer, and more open transactions than ever before. Staying current on the most recent trends and advances is crucial as we negotiate this quickly changing environment. 

We can stay educated and ready for what is ahead by doing this. Embracing these developments will help you remain ahead of the curve and reap the numerous rewards that Fintech offers, whether you’re a business owner or a regular consumer.  Innovations in Fintech include mobile payment apps, peer-to-peer lending platforms, digital currencies, blockchain technology, and robo-advisors.

Imarticus Learning and Geeta University have created a MBA in fintech program that intends to provide students with expertise in both technology and finance. This course provides practical experience with cutting-edge technologies, including API, Blockchain, Cloud Computing, AI, Machine Learning, RPA, IoT, and Big Data, as well as essential areas of the industry. 

So, let’s embrace future payments and see where it leads!

How are Financial Advisory and Risk Mitigation Related?

Posted on by Imarticus Learning

Financial management involves the strategic planning, organising, directing, and controlling of financial resources to achieve organisational goals and objectives. Financial planning, budgeting, investing, and risk management are essential components of financial management. Two essential elements of financial management are financial advisory and risk management.

Financial advisory and risk mitigation are closely related due to the important role that financial advisors play in helping individuals and organisations manage financial risks. The financial industry is inherently unpredictable, with numerous risks that could have an effect on investments, assets, and financial security. 

Financial Advisors

Financial advisors are experts who give individuals or organisations guidance and advice on financial matters. They might work as independent advisors or for a financial institution.

You typically need a bachelor’s degree in finance, economics, accounting, or a related field in order to work as a financial advisor. A professional certification can also help you become a financial advisor.

Financial consultants may charge their clients a fee or accept commissions for the financial products they suggest to their clients. People should do their research and pick a financial advisor who is reliable, knowledgeable, experienced, and who is looking out for their best interests.

Risk Mitigation

Risk mitigation is the process of identifying, evaluating, and reducing or eliminating risks to lessen the likelihood that unfavourable events will affect a person or organisation. It is a crucial component of risk management, which aims to safeguard investments and assets by spotting potential threats and taking action to lessen their likelihood and effects.

Several strategies can be used for risk mitigation, depending on the specific risks involved. Some common strategies include:

  • Avoidance: This involves completely avoiding the risk by not engaging in any activity that can potentially harm the institution. 
  • Reduction: This involves taking steps to reduce the likelihood or impact of the risk, such as implementing safety procedures or investing in backup systems.
  • Transfer: This involves transferring the risk to another party, such as through insurance or outsourcing.
  • Acceptance: This involves accepting the risk and its potential consequences, often when the cost of mitigation outweighs the benefits.

Effective risk mitigation requires ongoing monitoring and evaluation to ensure that the chosen strategies are working and to identify new risks as they emerge. By identifying and addressing potential risks, individuals and organisations can help protect their investments and assets, and improve their overall resilience to unexpected events.

Relation Between Financial Advisory and Risk Mitigation

Financial advisory and risk mitigation are closely related because financial advisors often provide advice and guidance on how to mitigate financial risks. Financial advisors help clients identify potential risks to their finances, such as market volatility, inflation, or unexpected expenses, and develop strategies to minimise the impact of those risks.

For example, a financial advisor may recommend diversifying investments across different asset classes to reduce the impact of market fluctuations or suggest purchasing insurance to protect against unexpected events such as accidents or illnesses. 

Additionally, financial advisors may help clients assess the risks associated with different investment options and make informed decisions based on their risk tolerance and financial goals. They may also monitor investments and adjust strategies as needed to minimise risk and maximise returns. 

Ultimately, financial advisory and risk mitigation go hand in hand, as both involve identifying potential risks and taking steps to minimise their impact. By working with a financial advisor, individuals and organisations can better understand and manage their financial risks, ultimately helping to protect their assets and investments.

Considerations for Choosing a Financial Advisor With Risk Mitigation Expertise

When choosing a financial advisor with risk mitigation expertise, companies keep several key considerations to keep in mind. These include: 

  • Professional credentials: Companies search for a financial advisor who has the appropriate professional certifications These certifications indicate that the advisor has completed the required education and training to provide sound financial advice and has demonstrated expertise in risk management. 
  • Relevant experience: Companies consider the advisor’s experience in risk mitigation and financial planning. They look for an advisor who has worked with clients in similar situations to your own and who has a proven track record of success in managing risk and achieving financial goals. 
  • Communication skills: Effective communication is essential in the financial advisory relationship. Companies look for an advisor who is a good listener and who can explain complex financial concepts in clear and simple terms. The advisor should also be responsive to your questions and concerns and be willing to work with you to develop a customised financial plan that meets your specific needs and goals.

Choosing a financial advisor with risk mitigation expertise requires careful consideration. By taking the time to evaluate potential advisors based on these key factors, firms can select an advisor who can help them achieve their financial goals while also minimising potential risks.

Conclusion

In the end, financial advisory and risk mitigation are closely related concepts that go hand in hand when it comes to managing personal or organisational finances. Financial advisors help clients achieve their financial goals by developing customised plans that take into account a range of factors and risk mitigation is an essential component of financial planning. 

As choosing a good financial advisor with risk-mitigating skills is crucial to the financial management of the firm, learning these skills from a trustworthy institution is as important.  Imarticus offers an IIM Calcutta executive programme in Investment Banking and Capital Markets which can help you learn more about financial advisory and risk management.

Cybersecurity Careers: Skills, Certifications and Job Opportunities

Posted on by Imarticus Learning

Cybersecurity is crucial in the modern digital era. Companies worldwide are putting more emphasis on cybersecurity due to the growth in cyberattacks and data breaches to safeguard their priceless assets. This has increased the demand for cybersecurity specialists, opening up many work prospects for people with the necessary qualifications. 

According to the University of Maryland, 2,244 daily hacker attacks occur every 39 seconds. This blog is for you if you’re considering a cybersecurity career path or want to grow in your current position. The abilities and credentials required for success in cybersecurity, as well as the present employment market and the most promising career options, will all be covered in this post. Let’s start now!

What is cybersecurity?

Cybersecurity aims to protect your digital information from those seeking to harm you. This covers safeguarding anything from your private information, such as your social media accounts and emails, to the private information of major corporations and governmental bodies.

Cybersecurity is similar to placing a digital lock on your data to prevent cybercriminals from stealing it or using it for nefarious purposes. To defend against dangers like viruses, malware, hacking, and phishing assaults, many tools and approaches must be used.

The field of cyber security is expanding and yet requires qualified personnel. Industry analysts predict the worldwide cybersecurity industry will increase from $170 billion in 2017 to $202 billion in 2023.

There has been a growth in the need for cybersecurity employment. By 2023, there will be more than 1 million open positions in the field of cybersecurity, but fewer than 400,000 people will have received cybersecurity training. The field of cyber security is constantly growing. In 2023 and 2025, respectively, it is predicted to expand by 11% and 20%. The median annual income for this fast-paced job is $81,000.

How to start a career in cybersecurity?

Qualified individuals must fill entry-level, mid-level, and advanced-level positions in the expanding cybersecurity field. Over the next five years, demand for cybersecurity professionals will increase by 18%.

Cybersecurity is essential for any organization that relies on IT systems to store, process, or transmit sensitive information. Cybersecurity helps prevent data breaches, identity theft, ransomware attacks, denial-of-service attacks, phishing scams, and other cyber threats that can cause financial losses, reputational damage, legal liabilities, or even physical harm.

Protecting computer networks and data against unwanted access, use, or destruction is the focus of the cybersecurity sector. Professionals in cybersecurity come in a wide range of specialties and skill sets. Entry-level cybersecurity jobs require a high school diploma or the GED equivalent and some on-the-job training.

An associate’s degree in computer science or a closely related discipline, one year of professional experience, plus a few specialized education courses are needed for mid-level roles. A bachelor’s degree in computer science, three years of experience, and specialized education courses are necessary for advanced-level roles.

What are some of the skills required for a career in cybersecurity?

Cybersecurity professionals need technical and workplace skills to perform their duties effectively. Some of the technical skills include:

Technical and practical skills are necessary for cybersecurity experts to carry out their jobs successfully. Among the technical abilities are:

  • Scripting: Scripting is a sort of coding that lets you use languages like Python or PowerShell to automate processes and develop tools. You may become more productive, save time, and improve your talents as a cybersecurity analyst by using scripting.
  • Networking: The cornerstone of cybersecurity is networking. You must comprehend how networks function, how data moves across servers and devices, how protocols and standards work, and how to protect network connections and devices.
  • Database: Most of the data is kept and retrieved through the database. You must be able to use languages like SQL to query databases, find and use database vulnerabilities, and safeguard databases from unwanted access.
  • Forensics: Digital evidence from cyber events is gathered, examined, and presented. To recover lost or encrypted data, track harmful activity, locate attackers, and preserve evidence for legal uses, you must be familiar with forensic tools and procedures.
  • Penetration testing: Penetration testing mimics actual cyberattacks on the networks or systems of a business to find and exploit weaknesses. You must understand how to use frameworks and tools for penetration testing, engage in ethical hacking, and present your conclusions and suggestions.

The Final Words

The need for qualified people is greater than ever as cybersecurity expands quickly. Any firm seeking to safeguard its digital assets may find you to be a useful asset if you have the necessary training and credentials. This industry has several work options, from security analysts to penetration testers, each with unique difficulties and rewards.

Information security careers can be ideal for you if you have a strong enthusiasm for technology and want to change the world. You can aid in preventing cyberattacks and defending yourself against digital dangers if you have the necessary skills and expertise. 

The cybersecurity certifications by Imarticus Learning are designed to equip you with the essential knowledge and skills required for a promising career in the field of cybersecurity. Through the cybersecurity program by IIT, roorkee, you will gain expertise in networking and information security basics, ethical hacking, cloud security, application security, and incident handling. Developed in collaboration with CEC, and IIT Roorkee, this program will provide you with the latest security tools and techniques highly sought after in the industry.

So why are you still waiting? Today, start along the path to a rewarding career in cybersecurity!

Email Marketing: How does it work?

Posted on by Imarticus Learning

Email marketing is one of the powerful tools for businesses to communicate directly with their customers and share information regarding new products, sales, and updates. With a high return on investment (ROI), it has become an integral part of several businesses’ inbound marketing strategies.

Unlike traditional mass mailings, modern email marketing is more specified and targeted, utilising consent and segmentation to ensure that the right message reaches the right audience.

Due to marketing automation, this process has become more streamlined, allowing businesses to focus on other important tasks. In addition to driving sales, a well-designed email marketing strategy can build a strong community around a brand.

How is Email Marketing Important?

In spite of 50 years of existence, Email marketing has experienced a surge in popularity in recent years. Email marketing makes room for greater personalisation of campaigns compared to social media marketing. The cost of Email marketing is significantly lower than that of other platforms. This is specifically relevant for small businesses. 

The profitability of Email marketing arises from the direct customer-specific access it offers to the inboxes of the audience. Email marketing encompasses everything from order confirmations to newsletters. The utility of email marketing can be categorised into three primary objectives: 

  • it can help increase conversations. Email campaigns can be sent to subscribers to help promote sales and discounts. Triggering abandoned cart emails can also remind visitors of their unpurchased items. 
  • Secondly, boosting brand awareness by directly reaching out to people is possible through email marketing. One of the added advantages of email marketing over social media posts is personalised emails. 

These are the curated space reserved for favourite brands and publications. This is one of the ways in which brand advertisements can be done efficiently and subscribers can stay in touch with their preferred brands.

  • Email marketing forms an effective way to drive customer loyalty. It can help assist in conversions, onboard new customers and retain existing ones. To streamline communication sales CRM systems work in conjunction with email marketing and help make it easier to build a community. 

How does Email Marketing work?

Email marketing is an important tool for businesses. Despite the various complexities, email marketing can be carried out efficiently by breaking it down into a few crucial steps. The steps are as follows:

  • In the first step, one needs to start with the list. Without having a list of subscribers, one cannot send out email campaigns. Alongside having a list, one needs the right people on the list to ensure successful marketing. Hence including genuinely interested people becomes necessary. 
  • After making the list, the next step forms adding an email service provider (ESP). An ESP helps manage the email list, segment the audience, and distribute email campaigns to the subscribers. It also helps in tracking the performance of the campaign and making data-driven decisions to further improve future campaigns. 

The mark of a good ESP is, it helps integrate with other marketing tools to enable automation. There is a myriad of email service providers that are available across the net, and selecting the right one can be a little challenging.

  • Once an ESP is selected it leaves one with refining the lists and messaging to reach out and connect with their target audience. This process may involve segmenting the list based on interests or a cart abandonment email to encourage subscribers who have abandoned their shopping carts to complete their purchases. 
  • Another critical aspect of email marketing is Automation. An automated email campaign can save time and ensure that the subscribers receive relevant messages at the right time.

How to grow the Email List?

To grow the Email list the provider needs to offer something of value that will entice the visitors to share their contact information. This is where lead magnets come in. 

A lead magnet is also known as an opt-in bribe. It is a free resource that is offered to website visitors in exchange for their email addresses. Lead magnets can take several forms, such as PDFs, audio files, or videos and they can be created at a very low cost.

Creating an effective lead magnet depends on a number of key factors. These are as follows:

  • Consumability of the lead magnet
  • The lead magnet should provide an actionable tool for it to be a good one.
  • The lead magnet should deliver a noticeable improvement in the lives of the audience
  • Relevance of the lead magnet
  • Availability of the lead magnet

Once a compelling lead magnet is created, the following step requires creating an opt-in form that will convert the visitors into subscribers. The opt-in form should include the following things:

  • A well-delineated headline that conveys clearly the benefits of the lead magnet
  • Well-enunciated description with lucid language that portrays the value of the lead magnet
  • Creative visuals including an image of the lead magnet or something like that can boost conversations
  • Precise and concise format that does not ask for too much information in the beginning. 
  • An enticing subscribe button having a contrasting and vibrant colour that will encourage immediate action

It is important to note that, one should keep tracking the results and make appropriate adjustments as needed to keep improving the email marketing strategy.

Conclusion

The significance and need of digital marketing in today’s fast-paced business world are indispensable. The never-so-ever prevalence of online technologies has made it necessary for businesses to adopt digital marketing strategies. Digital marketing provides a platform for individuals to communicate with a large audience and draw critical insights to hone their tactics.

There is a need for businesses to adapt to this increasingly digital world in order to adapt. By embracing digital marketing, companies can leverage the huge potential of the internet to promote their respective brands and appeal to new customers. Digital marketing also enables businesses to collect valuable information they need to build targeted campaigns that resonate with their target audience.

Digital marketing helps develop lasting relationships with their customers. With proper digital marketing strategies in place, businesses can establish a profound online presence and keep ahead of the competition. 

The modern digital age has revolutionised the way businesses work, making it crucial for individuals to harbour a strong digital marketing skill set. The IIT Roorkee digital marketing certification course is providing with a comprehensive online program that helps participants develop the necessary skills to excel in the digital marketing industry. This digital marketing course is targeted to aid individuals build a competitive advantage in the job market and also help businesses reach their marketing milestones.

Choosing the Right Path: Banking Courses After 12th for a Bright Career

Posted on by Imarticus Learning

After completing your 12th-grade education, choosing the right career path to your future success and happiness is important. Banking courses for students are now a common choice due to the industry’s growing need for qualified employees.

Banks, however, are crucial to the financial system and the economy. Banks are considered essential elements of the financial system, and they effectively and efficiently transfer cash from depositors to borrowers. 

 The eligibility requirements, duration, fees, syllabus, scope, and salary information for banking courses after 12th grade are all covered in this blog.

Overview of Banking Courses

A bank is a financial organization that lends money while taking deposits from the general public and producing demand deposits. One of the most well-liked and lucrative industries in India is banking. It provides a range of employment options for applicants with various backgrounds and skill sets. 

However, in the past, banking services were only available for making cash withdrawals, safeguarding deposits, and providing loans. But thanks to technological improvements, banking services have grown and now provide us with various convenient services that make life easier, like online cash transfers, rapid loans, immediate SMS and email services, insurance plans, online bill payments, ATM services, etc., and many more.

  • IPU CET, SET, and other entrance tests, among others, are used to determine admission to the appropriate undergraduate banking programs.
  • After the 12th grade, there is no upper age limit for enrollment in banking programs in private, central, state, regional, and other universities.
  • The UG programs indicated above last for three years.

Following high school, you can enroll in banking courses that will provide the essential information and abilities needed to operate in various banking sectors, including retail banking, corporate banking, investment banking, risk management, treasury operations, etc.

What are the best Banking Courses After 12th?

Depending on your interests and skills, you can select from various banking courses once you complete your 12th-grade education. 

Popular Banking Courses After 12th Commerce

The list of banking courses after 12th includes:

COURSES DURATION BENEFITS POPULAR COURSES
Certificate Banking Courses Short-term courses A career in banking. CFA, CPA, CBCA. FRM, MBA
Diploma Banking Courses Longer courses More expertise in a specific banking domain. Diploma in Banking and Finance, Diploma in Actuarial Science, Diploma in Banking, Finance and Insurance, Diploma in Risk Management
Bachelor’s Degree Banking Courses Full-time degree courses A strong foundation for their career in banking. BBA in Banking, B.Com in Banking and Finance, B.Sc in Banking and Finance
Master’s Degree Banking Courses Advanced degree courses Become leaders or managers in the banking sector MBA in Banking and Finance, M.Com in Banking, M.Sc in Banking and Finance

The Eligibility Criteria and Fees of Banking Courses

Depending on the degree of the course, different individuals may be eligible for banking courses after completing grade 12. The standard requirement is a minimum of 50% in your 12th-grade class from an accredited board. You might also need to take admission examinations or interview for some courses. 

A banking diploma program costs between INR 7,500 to INR 70,000, while the tuition fees for banking certificate programs vary from INR 3,000 to INR 20,000.

Investment Banking course

The syllabus for best banking courses for students after 12th covers various topics related to banking and finance, such as:

  • Banking Laws
  • Financial Management
  • Financial Markets
  • Foreign Exchange
  • Taxation
  • Accounting
  • Risk Management
  • Investment Banking
  • Treasury Operations
  • Business Communication
  • Business Ethics
  • Computer Applications

Career Opportunities After Completing a Banking Course

After high school, there is a strong need for qualified individuals in the banking industry. Thus the potential for banking courses is extremely great. Public sector banks, private sector banks, foreign banks, cooperative banks, regional rural banks, non-banking financial businesses (NBFCs), insurance firms, mutual funds, stock exchanges, etc., all provide various employment options.

After finishing banking courses after your 12th grade, you can apply for some of the following popular employment roles:

  • Bank Clerk
  • Bank PO
  • Bank Manager
  • Financial Analyst
  • Financial Advisor
  • Credit Manager
  • Risk Analyst
  • Business Analyst
  • Internal Auditor

Ending Note

After graduating from high school, taking the correct banking education may lead to countless options for a rewarding and successful career in the financial sector. Pursuing a banking education might give you a competitive edge and make you stand out in the job market due to the growing need for trained individuals. 

Banking courses may provide the information and skills you need to achieve whether you want to work as a bank clerk or an investment banker. The best Certified Investment Banking Operations Professional (CIBOP) curriculum is available at Imarticus Learning, with a 100% job interviews guarantee. 

This 150-hour course will provide a solid grounding in financial markets, the trade life cycle, risk management, and regulation so you can confidently enter the workforce. The CIBOP program may help you advance your career as an operations expert for investment banking, whether you’re a graduate or a professional with fewer than three years of experience.

Join the CIBOP program to give your career the push it needs if you’re interested in pursuing a career in banking!