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Category: FinTech

What Are Examples of Fintech?

Posted on by Imarticus Learning

Understanding Fintech

The 21st-century customers demand more and better, thankfully for businesses, technology has evolved to save the day. Every industry today has been going under a technological transformation to meet the needs of its consumers whose behaviour has been influenced by time and technological advancements. The brick and motor stores have got a dot com address to serve their customers online. Traditional banking services have been upgraded to digital banking services to cater to the needs of their customers on a 24*7 basis. This change has been possible only because of major technological advancements in the banking and financial services industry; this amalgamation of technology and finance has given birth to the Fintech industry.

The major emphasis of the Fintech industry is to provide more refined and targeted services to the customers and overcome the challenges faced by the traditional banking and finance segment. At the core of the Fintech industry lays the idea of leveraging technology to solve problems creatively, providing maximum customer satisfaction and creating a pool of loyal customers. Fintech also includes the development and utilisation of cutting-edge cryptocurrency. It’s a broad term that incorporates all progressive technological innovations in the given space.

Examples of Fintech Applications

Now that we have a basic understanding of the Fintech industry, let’s delve deeper into the subject and find out about the different applications of Fintech that are improving the world for better.

Mobile Payments

Today, it doesn’t seem like a big deal to transfer payments given the mobile payment solutions provided by various companies. A few decades ago it was just a dream, transferring payments was a challenge and it required you to visit your banks in some cases to do the drill. Now with the advent of progressive Fintech technology, you just need to use your smartphone to make a purchase and that too within a few seconds.

Robo-Advisors and Financial Management

Who would’ve thought that the 21st century will offer Robo-Advisors to guide a human on viable investment solutions and address finance related queries? Robo-advisors are the latest trend in the Fintech sphere. With the growth in Artificial Intelligence and Machine Learning technology, robots are being trained to do more complex tasks that earlier required human intervention. This technology provides leverages various algorithms to provide asset management solutions for different customers by assessing their needs and requirements.

Blockchain and Cryptocurrency

Cryptocurrency has been gaining widespread acceptance and popularity from the customers. There are cryptocurrency exchanges that facilitate the buying and selling of cryptocurrencies like Bitcoin. Blockchain is gaining widespread acceptance and being used for security purposes to maintain the privacy of data and keep it from being misused.

Crowdfunding Platforms

There are various crowdfunding platforms like Kickstart, GofundMe, etc. that became popular in the recent years. These crowdfunding platforms allow users on the internet to send and receive money from other users who visit the platform. The major applications of these portals have been realised while accumulating funds for a cause. People also use these portals to get funding for their business or project from investors across the globe.

Insurance

Fintech has also spread across the insurance industry, InsureTech has been the buzz word in the insurance sector that takes a holistic approach to insurance services and covers everything including car insurance, home insurance, data protection, etc. InsureTech and personal finance companies like Mint, LifeLock, etc. are gaining traction from investors in the Fintech space.

Conclusion

The word Fintech is an amalgamation of Finance and technology; it has revolutionized the financial services industry and has spread across other related sectors like insurance and banking providing maximum customer satisfaction.

What is the Next Big Thing in Fintech?

Posted on by Imarticus Learning

Breaking down the evolution

Have you ever wondered what would be the case if money wasn’t into the picture? To simplify even further imagine a world where the banking and finance industry is alien to people. Well, it was the case when money wasn’t used as a medium of exchange. The barter economy was running the whole game, exchanging goods for goods and finding people who needed them. It was a lot more complicated than it sounds.

It’s hard to imagine a time like the barter economy when we are sending money through smartphones using the Fintech companies.

When money was introduced as a medium of exchange, it simplified a lot of things that were no less than chaos earlier. From providing a unit of measurement to assigning a standard value for goods and services there was a lot that money solved. But there was still a whole lot that could be done with money as a medium of exchange.

Realizing the potential of this ultimate exchange medium, the bank started leveraging on the multiplier effect of money; there was no end to this revolution of wealth creation and wealth management. As we progressed further and became more technically advanced, technology was leveraged to create Fintech companies, an amalgamation of finance and technology that helped solved the loopholes of traditional banking methods.

Popular trends in Fintech

All the major economies which were earlier cash-oriented are going cashless; this observation is enough to say that the Fintech industry is thriving in the contemporary landscape. The introduction of the internet totally changed the game for almost every industry and the banking & finance industry were no exception to this chain of progressive evolution.

A few decades ago it was just a thought and now it has been the norm. The deep internet penetration and introduction of smartphones have paved the way for success for companies in the Fintech industry. The next big thing in the Fintech industry seems more in favor of digitisation and automation of financial services. The Fintech industry has been limitless so far, let’s look into some prominent developments within this sector that will come out as a game-changer.

Digital Lending Portals

There are companies in the Fintech domain whose main goal is to bring more transparency and convenience in the whole lending process. To minimize the cost of the loan and make it available for even the poorest individual has been the mission for these companies. All of this on a digital portal that can be accessed through your smartphones and laptops, it has been never this easy to get credit from the banks.

Robo-Advisors

The future is all about automation; it has been rightly proved with this big thing in the Fintech circle. No, it’s not a sci-fi movie; robots are here to guide humans on their investment decision. These cutting edge technologies use algorithms to find the best investment solutions for individuals and businesses. It covers all aspects of your investments; from rebalancing to asset allocation you can trust your Robo-advisor for maximizing your investment returns.

RegTech

Leveraging technology to solve regulatory challenges for financial institutions is what RegTech is all about. It’s a combination of the words ‘regulatory’ and ‘technology’. When you are dealing with financial products and services the risks are endless, RegTech is here to save you by mitigating the risks and providing solutions to challenges using technology.

Conclusion

The next big thing in the Fintech industry is not about payment solutions using smartphones but it takes into consideration the broader set of challenges like financial inclusion, regulatory barriers for businesses, credit for the remotest consumer, etc. There is a major scope for companies that are willing to solve these set of challenges.

What Are Fintech Jobs?

Posted on by Imarticus Learning

These days one of the most popular names that we hear in the technology industry is fintech. But what exactly is fintech and what are the responsibilities of a fintech job?

In this short article, we will explain to you what exactly fintech means and the responsibilities of a job in fintech bears. Let’s get started.

What Is Fintech?

As the name suggests FinTech stands for Financial Technology and simply broken down it translates to the use of technology in financial applications. Advanced technology such as AI and machine learning, among many more, are used in order to better optimize and automate the use as well as delivery of financial services. A quick example of this can be startups like PayPal which has come up with a payment portal for businesses as well as consumers in order to make online payments more seamless and reduce the consumer’s dependence on hard cash.

A Brief History

Fintech as an industry came into the spotlight in the early 21st century but was mainly used for optimising and developing back end financial systems. Slowly but steadily the popularity and capability of the industry spread and today fintech is used in almost all aspects of financial transactions. These days fintech uses a more consumer-oriented perspective and includes multiple industries such as education, hospitality, media, entertainment, fundraising, retail banking and many more.

What Are Fintech Jobs?

In order to better understand the implications of a fintech job, we first need to understand the fact that all fintech companies have one common objective in mind and that is to threaten, challenge and finally disrupt the traditional financial challenges by incorporating technology and encompassing a more consumer-friendly objective.

Now that you have an idea on what a fintech company does, let us explore the various job roles that are available in the industry.

Software

One of the most in-demand sectors within the fintech industry is for software developers. The reason behind this being, in order to disrupt traditional systems, new software and hardware need to be created. Under the software category, one can choose multiple job roles such as,

1. Technology Architects
2. Product Managers
3. Risk Analysis
4. Relations Manager (Analyst)
5. Engineers both Front End as well as Backend
6. Business Analyst
7. Legal Counsel

Almost all fintech companies these days have continuous openings for such roles as the demand for this industry is continuously growing.

Skills to acquire

If you want to secure a job in the fintech industry, mentioned below are the most in demand skills that you need to acquire.

1. Programming languages such as Java, Python and C.
2. Java integrations such as JSON, .js, Node.js.
3. In-depth knowledge of NoSQL as well as SQL.
4. Rust, Go, Solidity and other such enterprise languages.
5. HyperLedger Fabric.

Along with these there are specialised skills such as expertise in blockchain development and ledgers. Under this, you need to be skilled in the programming languages mentioned above as well as have in depth knowledge on how blockchain development takes place.

If you want to increase your chances of securing a job you can also undertake fintech courses in other areas of skill development such as machine learning, artificial intelligence and many more. Along with this, it is always advisable to undergo formal training in fintech courses as it will help you understand the intimacies of the business better.

Conclusion

The job market in the fintech space is at an all-time high. Along with this, experts predict that the demand for highly skilled professionals will continue to grow in the near future as well.

Now that you know what fintech is and the responsibilities a job role in fintech comes with, get started on developing the skills you need to acquire. All the best.

Scope of Fintech Courses in India

Posted on by Imarticus Learning

Also known as Financial Technology, the word Fintech is used to describe companies that give financial services to consumers and businesses using technology. Therefore making it a combination of finance and technology. Those who are engaged in this industry aim to create new technologies that can take over traditional institutions like banks and insurance companies.

Benefits of Fintech

● It gives you protection against risks that no other traditional insurance company will offer.
● You can save a lot of money since you do not have to spend money by hiring local rental staff.
● Helps in making quick decisions as it can compile the customer’s detailed profile along with the financial history, risk factors, and habits, all at once. It is hence helping in making lending decisions easier, quicker and more efficient.
● With the help of this technology, you do not have to contact the customer face to face, if they have a sales terminal near them with a wave of their phones, they can make contactless payments.
● Smooth transfer of money is one of the most essential features of fintech companies and you can always check your bank account details with a touch of your phone.
● The requirement to go to the bank to check your transactions is no more needed.
● Readily available loans to students as well as the public.

Scope of Fintech

Fintech has completely changed the way that companies and customers do payments and transactions on a day to day basis. This is also the reason why investments worldwide in Fintech is skyrocketing.
The best part about the financial industry in India is the fact that eighty-seven percent of the bills are made in cash, and almost forty percent of the population is not related to banks. Hence, it has a vast market place that is untapped for such startups.
Fintech companies use smartphones as a medium of interaction. Hence, with the booming industry of smartphones in India, the net penetration of this technology is also increasing steadily. The potential that Fintech has in India can’t be overstated.
Along with that, any existing financial institution or a traditional bank can use Fintech to create a healthy financial relationship between their present customers by introducing new digital products and enhance their service performance. It can also help in spreading modernization to traditional areas and educate many on technology thus facilitating a more easier way of transactions.
Things will continue to look good for the Indian Fintech market as technologies like blockchain, artificial intelligence, and intelligent automation can take Fintech to an altogether another level.

Scope for Fintech Courses in India

Courses on Fintech are widely provided in India. Some even include internships along with the course. If you are planning to get into the field of Fintech, it is much better if you do a crash course on it or have a certification for the same.
There are various courses like online courses, Fintech foundation programs, Fintech Prodegree, MBA in Fintech, etc. that are offered in multiple universities around India. To take up these courses, the candidate should have a bachelor’s degree or at least a background in computers.
With the increase in the market for Fintech technology, comes the rise in opportunity for people to work in the same field. Countless startups have entered the market and are looking for talented minds and workers to make their business a success.

Some of the examples of Fintech companies are:

● Paytm
● BHIM
● Mobikwik
● PhonePe
● PayU
● Shubh Loans
● Lazypay
● Policy Bazaar etc

Conclusion

Fintech startups have created a revolutionary change in the way payments are given and received. Businesses have an easier way of accepting payments. There is no need to worry about hard cash, and other applications use options like Ola money and their own software wallets for payments, which makes it even easier for people to facilitate transactions in their day to day lives.
With the increasing popularity of this trend in this technology and more fintech courses coming online, the requirement for experienced and trained individuals are increasing, making this a worthwhile investment.

Even students get to do internships for companies such as Paytm and BHIM, which says a lot about the scope for jobs in this field. Having a certification in Fintech will make sure that you can start your work in this field with a good post and a satisfying salary.

How Can I Start Career in Blockchain Technology

Posted on by Imarticus Learning

What’s trending today might be obsolete tomorrow that’s how fast-paced technology has made our lives. Every other day you hear some news about a new technological marvel that creates a benchmark. A decade ago nobody had even heard of Blockchain technology, let alone thinking about pursuing a career in the field. Today it is one of the most sought after fields and is counted among the industries with most rewarding career prospects given the growing demand for and acceptance of this technology. Before jumping over to how can you start a career in this domain let’s get a brief idea about what this technology actually is.

What is Blockchain?

The blockchain can be understood as a decentralized digital ledger that contains information related to transactions of economic significance. The blocks contain data related to the transaction like information about the parties involved, timestamp of the transaction, etc. One of the unique features of this technology is that the information stored in blocks can’t be altered later on, this makes it less vulnerable to the malpractices of corruption.
To simplify things it can be understood as a shared spreadsheet where changes are recorded from multiple users in the network who has the access to the document and there is a track of changes made by people within the network. It is not entirely the same as a spreadsheet, it is a form of the digital ledger and the security and sharing are a little more complex than a shared spreadsheet. The technology was initially developed to power cryptocurrencies but given its high utility, it was accepted across various other industries like healthcare, real estate, insurance, etc.

Building a Career in Blockchain Technology

The blockchain technology is still in the nascent stage and a lot is still unexplored in this domain. The technology has a plethora of opportunities for developers and other tech geeks, given its application across multiple industries, it is yet to reach its full potential in terms of employment generation. Since the field is comparatively new, there is no standardized formal education which is designed for people eying to pursue a career in this field.
What matters here more than a degree is the skillset you carry and the knowledge you have amassed, given your interest and curiosity in this technology. Blockchain course is designed to educate people who are eager and want to gain a holistic knowledge of the technology and its applications. The blockchain courses will give you kick-start as a beginner but since this technology is still in infancy you’ll need to be attentive towards the developments in the field and also you’ll need to upskill yourselves according to the changes in the industry.

One of the most important steps towards your career progression in this field is to understand the fundamentals of this technology. Every unique technology has a unique value proposition; the internet aimed to make an uninterrupted interconnected network, the core idea behind blockchain is to provide a method for exchange of value where no third party is involved. Understanding the essential elements of blockchain technology like decentralization, cryptography, smart contracts, etc. is vital.
Blockchain developer is an in-demand job role in this field, this requires technical expertise in the digital ledger technology to have a sound career. Learning JavaScript for web development and Solidity for Smart Contract would be a good start in the right direction. Having a background in computer science will give you a boost and programming knowledge is an added advantage.

Cryptography is at the core of the blockchain technology, applications of blockchain in areas of asset management is possible because of cryptography. Cryptography is proving to be helful in securing assets and is used by big corporations for the same. Training yourself in cryptography and opting for a blockchain course will increase your chances of landing a job in this domain given the growing demand for cryptography across multiple industries.

In addition to this, there are several cryptography projects in the market that also rewards you for completion, this will help you develop your skills and also help you to assess where your interest lies. You can be a part of blockchain communities where you’ll get the required exposure and guidance that will help you analyse and choose among the career options available in the blockchain domain.

Fintech: Combination That Has Changed The World

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One can say that today’s society, which is highly capitalistic in nature, revolves around two important areas: Finance and Technology. In the increasingly digitalised world of today, no one can escape technology. In a completely capitalistic society, no one can ignore the impact that money has on every aspect of our lives. An astute combination of finance and technology in today’s time can positively equip anyone to excel at life in an urban environment.

Many individuals and industries have over the years realised the powerful impact that the combination of finance and technology can have and have since tried to develop these two things simultaneously and in a way that compliments each other. Whenever these things have been developed alongside, marvellous things have happened such as net banking and continuous efforts are being made around the world to keep this combination or interdisciplinary of fields further developed.

What is FinTech?

In simple words, FinTech is made up of two words: Finance and Technology. Together these two words make FinTech. This stands for an aspirational innovation that aims to use the emerging technologies around the world and merge them with finance. Fin-Tech aims to challenge traditional financial ways and practices in a way that improves and elevates the quality of service. Over the years, FinTech has been used in fields such as banking, risk management, accounts, data mining, and software building.

A new area of study called Fintech Course has emerged that streamlines the aspirations and methodology that surrounds Fintech. Fintech Course is as much based on user experience as much as it is based on innovation. One of the main aims of the FinTech Course is to ease the way of conducting financial activities in a manner that is all-inclusive, easy, and non-intimidating so that more and more people are included in financial practices which will ultimately expand the market.

What are Some of the Examples of FinTech?

Some of the earliest examples of FinTech Course innovation are Net Banking and Mobile Banking. The brilliant combination of finance and internet technology has played smoothly on the phone. Mobile Banking has not only made the banking experience easy and accessible, but it has also led to more people who have opened bank accounts.

Once upon a time, making a simple transaction or something as basic as checking your current bank statement would mean spending hours in bank lines. Still, with net banking, people can check all details related to their finances and make transactions within a few clicks. This has increased the frequency with which people perform baking functions. The ease of doing business has increased with net banking and additionally, the overall consumer awareness levels have also improved, particularly amongst the youth.

Cryptocurrencies or digital currencies are other subjects that come under the FinTech Course. Cryptocurrency has in the last 10 years completely revolutionised how banking and global transactions work. Bitcoin ever since its launch in 2009 showed if money is mixed with internet technology then even the completely consolidated world of paper currency can be changed. By providing a legitimate alternative of paper currency through Bitcoin and other digital currencies, the FinTech industry proved that everything is possible with innovation. While cryptocurrencies were once treated as a fad and dismissed by officials, today transactions worth millions are held in Bitcoin and Altcoins.

Today digital currencies are an industry in themselves that has prompted governments to treat digital currency seriously. Many nations like Japan, the USA, and Russia are even considering of creating their own state-run cryptocurrency to counter the influence of privately owned digital currencies. These developments represent the world-changing power of FinTech and its many innovations which make the impossible seem possible.

Conclusion

Despite its noble intentions, common people are uncomfortable or intimidated by the notion of FinTech. The reason for this can be the hard language and terminology that surrounds this field. Most people use products and services that are a direct result of FinTech innovation, but they still maintain a distance from the technicalities of it. People and specifically students need to be informed about FinTech so that they join the field in the future. There is no doubt that FinTech has revolutionized the way this world works.

What is Blockchain

Posted on by Imarticus Learning

We are living in an era where any imagination can be brought to life with the help of technology. One of the most ingenious inventions of modern history stands in the form of blockchain technology.

Many of us have heard of the blockchain word through its application in the field of cryptocurrency but are unaware of other prominent aspects of this revolutionary technology.

There are Blockchain courses specially designed to help people comprehend this progressive technology. Let’s understand what it really is and how does it function.

Understanding the Blockchain Technology

If we go by the definition, the blockchain is a decentralized digital ledger that is spread among a network of people where everyone in the network has a copy of the ledger.

Cryptography is used to link the blocks and every block contains a hash that is cryptographic in nature of the previous block, a recording of the time and data of the transaction made.

The transactions recorded here is verifiable and permanent in nature, it can’t be altered later.

To simplify, the blockchain can be understood as digital information sets stored in public databases available to people in a given network. The blockchain stores transactions of value; it could be monetary or other economic transactions of high significance.

Digitalization, transparency and Immutability are the three pillars of this technology that together makes it revolutionary in nature, eliminating the flaws of the traditional ledgers that used to contain valuable information.

Every block stores information regarding the transactions like date, time, value or amount, information about parties relevant to the transaction.

Every block contains unique information and is given a unique code to distinguish them from other blocks in the chain. This unique code is termed as “Hash”.

How Does Blockchain Function

We have already established what blockchain is, all the new data recorded in a block is added to the existing chain of blocks.

Since we know that the blockchain records transaction of value, let’s take an example of an e-commerce purchase to understand the functioning in context.

So let’s say you saw a discount on your favorite smartphone and you rushed on to the e-commerce store for the purchase. The transaction that happened is verified in public records in order to check later if things don’t fall into place or even for general proof.

This process needs someone who can vet the entries from the new transaction. In the blockchain technology, this process of verification is left to the network of computers who vet the transaction and then record this entry into the digital ledger.

Information regarding the amount of transaction, the time of the transaction, digital signatures of parties involved, etc. are recorded in the block.

The block contains other transactions during the same time, after successful verification of all the transactions in a block; it is given the unique hash code for identification.

Applications of Blockchain

One of the most significant applications of Blockchain technology continues to be in the form of cryptocurrencies that are transforming the financial industry and changing the way people transact and exchange things of value.

It is also used in the field of asset management to process and settle the trade. Another application of the Blockchain technology that is very close to the finance industry is in the form of insurance claims processing, the insurance industry is using this technology to identify fraudulent claims and process the genuine claims faster.

Smart property has opened a new venue for Blockchain application. Reducing the chances of theft of smart property Blockchain will play a crucial role in protecting the ownership of tangible goods of value.

The supply chain industry is also the one that is benefitting from the use of Blockchain technology, the technology adds value in this aspect through sensors that give an end to end visibility of the items in supply by providing information related to live location and the state of goods being supplied.

Other than this Blockchain has also found its way to the healthcare industry that uses smart contracts to store and secure personal health records. The health records can be stored on Blockchain with a private key that would limit the access of this information to a particular individual who has the key.

Conclusion

The blockchain technology is the future, it helps to remove the middlemen in the process who don’t add much value but are prone to corrupt the system. In the most basic sense, it’s a decentralized digital ledger that records information which can’t be altered at a later date.

Blockchain has also opened a plethora of opportunities for people as it is being frequently adopted by organizations and has found its way in various industries including finance, healthcare, insurance, etc.

Blockchain courses are designed to train professionals in this field. The blockchain courses help to build an in-depth understanding about the technology and its applications.

How to ace that FinTech interview

Posted on by Imarticus Learning

[vc_row type=”in_container” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″ shape_divider_position=”bottom”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_link_target=”_self” column_shadow=”none” column_border_radius=”none” width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][vc_column_text]How to ace that FinTech interview

FinTech professionals are always in demand in the ever-evolving job market, however, employers are
often choosy about the candidates they decide to interview and the professionals they choose for the
designated job role. While understanding the candidate’s technical background and skills are a top
priority for most hiring managers, the candidate’s business skills and interpersonal communication
strengths are also taken into consideration by most. As an aspiring FinTech professional, you are
expected to understand the end-to-end working of a FinTech environment, perform over multiple
functions at once, exhibit your skills to your utmost confidence and multitask.

Here are a couple of tips to help you get through that impending Business Analytics interview:

Research the organisation

Walking into an interview without knowing details about the company, what it does and what sets them
apart from other companies in the same domain is perhaps one of the biggest blunders an interviewee
can make. Hence, always research first. Find their website and read up on their product and what kind
of services they offer. Understand what is it that they are offering to you and why do you want to take
up the opportunity, so that you can explain it to your interviewer.

Know about the job description

A job posting is extremely important for the candidate to understand what it is that the employer is
exactly looking for. Be clear what is the position you are applying for, if your interviews may be based on
technical knowledge or analytical skills. Identify the skills essential for the employer, brush them up if
you already have them; in case you don’t, be honest during the interview process.

Brush up your skills

You might have been working in the field of FinTech for quite some time now, however, it is important
to brush up your skills. Once you’re all set t go for a job interview, identify skills and techniques you
haven’t used in some time. Read up, gather as much knowledge as you can while you are at it, watch
videos on YouTube, take a certificate course or an online crash course if there’s dearth of time. It is
always useful to re-learn.

Prep for common interview questions related to your field

To avoid those sweat beads from appearing on your forehead every time you’re asked a question,
prepare in advance. Have a list of anticipated questions commonly asked during Fintech interviews. You
will be able to find online guides and blog posts on the internet that may help you with the same; also,
sometimes you come across tips that help you understand what kind of an answer a hiring manager
might be looking for to a particular question.

State the best of your professional abilities

While your technical knowledge is important along with the skill set you bring to the table, it is also
important to demonstrate your expertise as a FinTech professional. State examples of how you handled
difficult instances at work. It is important to showcase that you can function well as part of a team as
well as an individual.

Be confident even when you do not know an answer

In case you’ve been asked a difficult question to which you do not know the answer to, be confident and
admit that you do not know the same. Make sure that you don’t come across as arrogant but remember
to be confident to the best of your abilities.

Always remember that your role as a FinTech professional would be to ensure that your organisation is
running smoothly along with providing solutions to multiple problems, liaise with different departments,
exhibit exceptional management skills along with good communication abilities.[/vc_column_text][/vc_column][/vc_row]

How to Prepare for a Fintech Interview

Posted on by Imarticus Learning

How to Prepare for a Fintech Interview

Interviews and nervousness come hand in hand. The moment the term interview
pops up, the heart rate increases and the brain starts feeling unwanted stress. Even
the slightest thoughts of entering the interview room give us chills! It indeed requires
a lot of hard work to excel in something, and the same goes for an interview as well.
But unnecessarily worrying about something is not the solution. It's like wandering in
a jungle with no sense of direction.

In the fintech industry, an interviewee is supposed to have a good understanding of
not only the financial but also a technical domain. Following is an approach that will
help you guide in the preparation for a fintech interview.

Step 1:

Be very clear with the requirements including the necessary and preferred
qualifications in the job description. If not enough information is available, conduct
research about the company and the job requirements.
Financial technology is a vast domain, hence a clarification about the job role is a
must!

Step 2:

Make it a habit to follow the news every day to stay updated with the ongoing
changes in the fintech industry. Follow online portals dedicated to fintech and make it
a habit to practice different types of questions every day.
Be thorough with the basic concepts pertaining to fintech. Pay more attention on the
practical aspects and how it can be applied as a solution to the real-world problems.

Step 3:

After the first two steps are done, there comes the time to go deeper into the actual
concepts. A good understanding of technology domains such as blockchain,
cryptocurrency, artificial intelligence, machine learning, virtualisation is a must.
Concerning the finance domain, a good knowledge relating crowdsource funding,
traditional banking, insurance, budgets are highly appreciated.
Having a practical experience along with the theoretical knowledge serves as an
icing over the cake.

Step 4:

During the interview, an interviewee should portray an inherent willingness to adapt
to the changes according to the needs of the organisation. There should be a zeal in
the eyes of the individual to learn about fintech and its applications.

Step 5:

A resume is vital for any job role as it is the first impression offered to an
organisation about an individual. So, make sure that you have an effective resume

that suits the requirements of the job well. Also, quote work experiences from your
resume relating to the fintech role you are applying for.

Step 6:

Apart from the work experience, ensure that you have valuable certifications relating
to the fintech field. It is very important for a newbie who is about to enter the job
industry.

Step 7:

Refrain from being a jack of all trades but master of none. It is impossible to know
everything about something. So, it does not matter if you do not know about
everything in the applying domain. But make sure you have relevant skills to perform
the required operations if selected for the applied role in the fintech domain.

Fintech abbreviated as financial technology requires people to have a good and clear-cut understanding of the financial and technological fields. When it comes to job
opportunities in the industry, it is vast. Since it is related to both the finance sector
and technological sector, there is a need for developers, skilled technical
professionals and cybersecurity experts. An individual having a good understanding
of banking, ledgers and currency management is also required. Hence, it is a field of
numerous applications and opportunities that calls for a really good understanding of
the job roles and relevant concepts.

Is India The Best Fintech Destination?

Posted on by Imarticus Learning

The Indian Fintech industry witnessed a boom in the early 2000s, and it has shown no signs of slowing down. We take a deeper look at India’s Fintech industry

Since the beginning of 2010, India saw the dawn of the financial era. Banking institutions began seeing the advantages of technology and invested heavily in emerging technologies. This gave rise to a number of financial technology or Fintech courses start-ups in India. Technologies such as AI, Blockchain and cloud computing began to seep the financial market making it easy for transactions to be carried out easily with minimum human intervention. This resulted in e-commerce blossoming where consumers could make financial transactions such as online payments, shopping and paying bills without any worry.

There are six basic benefits that were highlighted during the Singapore Fintech Festival 2018 and these included access, inclusion, ease of living, connectivity and growth of opportunity and accountability by individuals and banks. Technology has now entered the mainstream and is creating opportunities like never before and has impacted the economy tremendously.

Prime Minister Narendra Modi spoke at length about the fintech industry at the Singapore Fintech Festival 2018. He spoke about the growth of fintech startups in the country, the impact of demonetization. He said that there is an eruption of fintech innovation and enterprise in India. The future of fintech and Industry 4.0 is emerging in India according to the Prime Minister.

In this article, we want to list down the top reasons why India is emerging as the IT capital of the world. Prime Minister Narendra Modi’s Digital India has seen success with many industries adopting technology at a rapid rate.

Combating Crime
When you deploy technologies such as blockchain and AI, it makes it easier for banking and financial institutions to address frauds and crime. Since all the data and transactions are well protected and human intervention is minimum, crimes are drastically reduced thereby decreasing costs. It also prevents money laundering to a great degree.

Aadhaar Card
The introduction of the Aaadhaar card in India has made it possible for marginalised parts of the society to open bank accounts with ease. It has ensured connectivity and ease of living with opportunities for 1.3 billion Indians. The Jan Dhan Yojana has enabled the opening of 330 million new bank accounts in the past three years.

Ease of Payments
Online payments and its accessibility have opened a gateway of possibilities thereby ensuring that there is high levels of productivity in the country and had a good impact on the economy.

Demonetization
It has been two years since the occurrence of demonetization in India, and the fintech industry has only grown at a rapid pace with the rise of digital payments and transactions. There is a 207% increase in the volume of transactions carried from 79.67 Cr transactions as recorded in October 2016.

Conclusion
The fintech revolution has only begun, and with banking institutions adopting newer technologies, it will give rise to more start-ups, making India a sought-after destination for financial innovation.