Why Employee Training Is Central To Your Talent Acquisition Program?

As an organization, your employees are among your biggest assets. For the growth and success of your business, it is essential to invest in newer talents who bring varied qualities to the table. Organizations often go through painstaking processes to hire qualified employees who fit the bill and the role; additionally, the process can often be expensive and quite lengthy. Also, at certain times, the employee-organization compatibility does not work out.

Where the need for new talent cannot be undermined, it becomes crucial to retain some of the best minds you already have at work. Often regardless of what industry you’re in, you’d see that business is a constantly evolving cycle. Quite similarly there arises a need for more evolved job roles.

However, it is advisable not to limit your approach to new hires only. Why not train your existing staff with a set of fresh skills? It is a win-win for both parties, in the sense that, as an organization, it is beneficial since you’re already working with someone who is compatible with your work culture. For the employee, it acts as an opportunity for his career development to hone his existing skills further.

Statistics say, “76% of Employees Are Looking for Career Growth Opportunities”.

While the importance of technical skills is unparalleled, the zeal to overcome new challenges, increase one’s emotional quotient, looking out for the company’s benefit in every decision made, and more, are important attributes for you to look out among your existing employees. In this post, we shall understand more about why employee training is central to your talent acquisition program.

Benefits of employee training

Talent acquisition is synonymous to employee training because it covers all aspects, you’d possibly need to shape up your workforce into something that is more engaged, and efficient. Employee training includes performance management, leadership enhancement skills, recruitment, and succession, all of which make up an employee pie-chart. Here’s what more you can get out of it:

Increased engagement at the workplace

Frequent training programs at the workplace prevents monotony while establishing a scope for reinterpreting existing skills that employees possess, and how they can be enhanced. Training programs help understand, who is good at what and which employee has the possibility of bringing something more to the table.

As an organization, training programs help you understand what are the growth opportunities you can provide internally, instead of hiring fresh talent and training them from scratch. You can also plan future training programs after you understand where the gap needs to be bridged.

Workplace loyalty

Investing in a training model for your employees instill a sense of workplace loyalty and belonging among them, and makes them want to invest their skills in the company. The result of this is a give and take the cycle of codependency that drives loyalty as the end goal. And, as you may already know, this is directly proportional to productivity as well as employee retention.

Making leaders for the future

You need someone to hold the baton, and what better than passing it on to an employee you can vouch for. By training programs that hold leadership development as their goal, not only are you growing within the company but also promoting the fact that how the company is always on the lookout for talent in managerial or leadership roles.

Empowering the employees

Empower your employees to build their confidence. Training programs that are intended to help them hone their existing skills or develop new ones bring about a greater sense of confidence.

Fill in gaps in the business

Every business has at least one weak point which might be a major area of disfunction. This may arise from an insufficient workforce to service demand ratio, undertrained staff, or lack of planning. Identifying the weak points in your business, and building employee training programs around the same goes a long way for your benefit.

The endnote – Why training needs to be followed by implementation

 Employee training is the first step to talent acquisition. Training alone cannot push your entire workforce for excellence; implementation is equally important. After employees have picked on new skills, help them put them to practice. Assign challenging tasks out of their comfort zones, create support and feedback channels to assist them and arrange for follow-up training sessions if required.

Make sure though you give them enough time to rise and shine!

For more details, feel free to visit: https://www.linkedin.com/showcase/4821209/admin

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4 Advantages of Gamifying Your Curriculum and Educating Your Learners Better!

The modern work environment is rapidly changing and thus keeping your employees updated on the latest practices and compliances in the industry has become an utmost need. But one of the most common obstacles companies face is the lack of interest in their curriculum, as a result of which employees are not engaged enough to complete the entire course and even if they do, they don’t learn anything substantial from the course.

Research has shown that one of the most effective ways of boosting engagement in the curriculum is by gamifying them. Gamifying content, which is one of the latest innovations in EdTech is the process of converting the underlying content into a game environment, in order to boost learner engagement, interaction and overall retention with the platform.

Advantages of Gamifying Your Curriculum
Gamifying comes with several different advantages that benefit both, the learners and the company undertaking the course. Mentioned below are some of the most significant ones.

Makes the Content Interactive

One of the biggest disadvantages of a run-of-the-mill curriculum is the boring content that demotivates learners and thus they don’t feel compelled enough to sit through the entire course with rapt attention.

Gamifying your existing content will convert it from a page-turner curriculum to a two-way interface, where the learners can interact with the environment with more freedom and creativity. Two-way interaction will help them be more focused and research indicates that students will retain the information shared better and for longer if it is gamified. Not only this, but research has also shown that students are more inspired to complete the entire curriculum once it has been gamified and made interactive.

Acts as a Motivator
One of the best aspects of gamifying your content is that it takes both the internal as well as external motivators of the learners into account. It is a common understanding that not all your learners will be competitors. Leaderboards and score count will not act as motivators for them. Gamification takes this into account all these factors and thus includes motivators that are favorable for a larger audience. As a result of this, your learners will be hooked to the content and will take it up at their will, saving you the chase and oversight of finishing their coursework on time.

Scale at Large
If you undertake the gamification process with well thought out strategy and planning, then the platform will take into account all the learners currently enrolled, and store all their progress. This will help you scale the process in the future, and thus motivate more employees to enroll themselves in the program. But one aspect to keep in mind is the fact that you need to look at the gamification process like a long-term objective and not a one-off initiative.

Helps You in Partnering
Gamification is a relatively new concept in the field of EdTech has not yet been mastered at many. Thus, as an organization, you need to look for partners who hold expertise and knowledge in developing interactive gamified content. In the partner choosing process, you need to take into account their technical expertise, number of years of experience and most importantly the other organizations they have partnered with in the past. This will make the process much more efficient and as a result, you will have a partner who is competent enough to deliver a learning experience that is state-of-the-art and synchronous will all your employee’s objectives.

Conclusion
The workplace and business dynamics of today are one where constant innovation is called for. Long gone are the days, where just by learning one technology you could become a tycoon. These days, as an organization you need to be equipped with the latest talent and skills relevant to your industry and only then can you thrive and not just survive in this increasingly competitive world of business.

So, go ahead and discuss with your stakeholders about the process of gamification and incorporate the same in your learning curriculum today.

For more details, feel free to visit: https://www.linkedin.com/showcase/contact-imarticus-learning

Posted in COE

5 Benefits of Developing Your Soft Skills Today!

The modern business dynamics of today demand more of a prospective employee than technical hard skills. As the modes of conducting business continue to change and the world closely comes to being one, as an employee of an organization you need to develop your soft skills to an extent where communication becomes flawless and your technical skills shine at your workplace.

The Advantages of Soft Skills Development

Soft skills in the most basic of terms are defined as skills that are developed and fostered in an individual in order to let their hard skills shine both at work and outside. These days having impeccable soft skills leads to multiple opportunities and thus it has become a vital aspect of one’s core development. Mentioned below are the top 5 benefits of working on your soft skills now.

Hard Skills Shine In the Light of Soft Skills

In most workplaces, just having the hard skills necessary for a particular assignment won’t let you accomplish it successfully. The development of soft skills will not only allow you to communicate with your peers better, but it will also let you shine your hard skills better in front of your seniors.

Some cases where your soft skills will be tested are reporting to your manager, working closely with your teammates, reporting about progress and most importantly navigating obstacles in an efficient and effective way.

Soft Skills Are Harder to Acquire

At first glance, you might have the opinion that hard skills are easy to acquire and with practice, you will get a grasp over them. But this statement is only partially true. As a candidate, you can easily take courses, both online and offline and with time, you will be an expert in hard skills.

While on the other hand, the development of soft skills is harder as in most cases it has little to do with expertise and or knowledge and more with your character as a person. You have to consciously remind yourself at every turn to work on your soft skills and as a result, it will take more time to develop, thus making it harder than technical skills to develop.

Additionally, when applying for a job your soft skills will set you apart from other candidates who have the same technical skills as you, making it more important.

The Modern Workplace Is Constantly Evolving

A modern business ecosystem is a place, where there is a constant need for listening, talking and sharing perspectives with one another. Long gone are the days when you could sit in your silo and get done with your work. Now at every turn, you are expected to collaborate with your team members and get the assigned work done faster and better.

This calls for the development of soft skills as these will teach how to interact with your peers and colleagues better and in a more effective and efficient manner.

The End Customer Demands Soft Skills

In these times of rapid development, customers can easily come by a lower price and better offers in a moment’s instance thanks to the development of internet technology. Thus, as a company, if you want to retain your customers, soft skills will allow you to do so.

With impeccable soft skills, you can communicate with your clients better, understand their needs and thus deliver according to their expectations. If you lack soft skills, not only will your company lose valuable clients, but the consequences of this will go much further.

The Future Is for Soft Skills

In a recent research publication, Deloitte Access Economics predicted that almost 2/3rd of all jobs in Australia will rely heavily on soft skills by the year 2030. With the advent of technology, the dependency on hard skills to accomplish a task is decreasing and thus to future secure your career, you need to focus on the development of soft skills more than anything.

Conclusion

The development of soft skills is not an extremely hard process. All it calls for is your dedication and conscious effort towards getting better. Thus, start today and develop your soft skills one by one, you won’t regret it.

For more such details, feel free to visit: https://www.linkedin.com/showcase/4821209/admin

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EQ is the Secret to You Succeeding at Work

In our daily lives, one of the most important questions we struggle with on a regular basis is that if we are successful enough? While most of the time, our answer is negative in contrast to the big dreams we have set for ourselves, we often fail to realize the true essence behind being successful in life.

The great Winston Churchill once famously said, “Success is walking from failure to failure with no loss of enthusiasm”. A true stature of human success, Winston Churchill was a man full of passion and failures. But despite all the major setbacks he had in his career, he never let them overcome his passion and zeal for success and as a result, he led Britain to a new era post the war which devastated half the planet.

If you begin to analyze the lives of most successful men, you will be quick to realize that it is not only their zeal to be better which propels their success but also, their EQ or Emotional Quotient. Thus, in this short article, we will talk all about EQ and how you can use the same to propel yourself towards your dreams.

EQ Is the Secret to All Success

In a study published in the year 2000 by researcher Strickland, it was reported that for high performing individual’s EQ is twice as responsible for their motivation, zeal, and morale when compared to their technical skills and IQ.

Fortunately for all of us, there are five foundation pillars of Emotional Quotient that can be learned and fostered within all of us, to lead a happier and more fulfilled life. These were published in research by Daniel Goleman in the year 1995.

    • Self-Regulation: One of the most important aspects of the five foundation pillars, developing self-regulation within you will give you the capacity to manage conflicts, take more responsibility and be more accountable for all your actions.
    • Self-Awareness: Most of the time we are of the opinion that we understand our own emotions the best, but that is often not the case. We as individuals are biased when it comes to judging our own emotions and thus it leads to conflicts within our minds. The ability to understand our own emotions, analyze them, followed by changing them towards others in times of need is the process of raising self-awareness. While this might look trivial at first, it will go a long way in helping you reach your success faster and in a more efficient manner.
    • Empathy: As a child, I remember my parents teaching me how to be empathetic towards others. At a young age, I did not understand the essence of the process, but as I grew in life, I came to realize the huge importance of it in everyone’s life. Empathy can be defined as the ability of an individual to understand another person’s emotions and situations and thus be better able to help and assist them. As the famous saying goes, you reap what you sow and thus how you treat your peers, seniors and juniors will determine how they treat you back in due time.
    • Motivation: In order to achieve anything in life, be it small or big, we need to be able to motivate ourselves to act. The best way to motivate yourself regularly and stay on track to reaching your goals is to constantly remind yourself of the bigger picture and then take small steps towards reaching it every day.
    • Social Skills: Last but not least is the ability to develop better social skills as individuals. Practicing your social skills on a regular basis will give you the ability to connect with everyone better and help them in their journey of success. As a great man once said, if you want to walk fast, walk alone and if you want to walk far, walk together.

Conclusion
Success is a continuous process of development and thus you always need to remind yourself of the bigger picture and the purpose of your actions. Now that you know what EQ is and how you can develop them in yourself better, go ahead and try them out today.

For more such details, feel free to visit: 

https://www.linkedin.com/showcase/4821209/admin

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Blended Learning and Its Advantages

Educational Technology or EdTech as it is commonly referred to, is one of the hottest trends in the market today. Starting from startups like Udemy and Coursera to individuals starting their own courses on sharing the knowledge they have gathered over the years, almost everyone is directly invested or affected by the growth in this space.

As a corporation, there will be times when you need to invest in courses and curriculum to upskill your present workforce and then you will be faced with the choice of either going completely offline, completely online or using a mix of both, which is referred to as blended learning.

What Is Blended Learning?

In the simplest of terms, blended learning can be defined as a combination of online and offline learning, thus offering the best of both worlds.

For example, you choose to upskill your employees with the latest course in Digital Marketing. They take a few classes offline and then make up for the rest in terms of homework and assignments online. In this way, their investment of time is taken into account and research has shown that this method of imparting education especially in working professionals is more impactful.

Advantages of Blended Learning

Blended learning comes with a lot of advantages when compared with other means such as online or offline. Mentioned below are some of the most significant ones.

Benefits for Patrons

  1. One of the most significant advantages of blended learning for patrons is the amount of flexibility and freedom it offers. Not only does the patrons have a greater amount of scheduling flexibility when it is needed, but also the freedom to learn remotely and at their own pace.
  2. Recent research conducted on students taking various forms of eLearning (online, offline and blended) reported that blended learning students have a more comprehensive understanding of the course content and thus tend to learn better in comparison to their peers.
  3. One of the most crucial gaps in online learning is the absence of interaction between students and their peers. Research has shown that in most cases interactions between peers and instructors lead to better retention of the course material. Since blended learning offers the best of both worlds, social learning is favored among all the pupils.

Benefits for Businesses

  1. One of the most significant advantages of undertaking blended learning from a company’s perspective is the reduction in the overall cost. Expenses such as those of face to face interactions, traveling costs, accommodation and even printed transcripts and course material are severely reduced, thus leading to more profits.
  2. In blended learning, companies have the leeway to make use of several different delivery methods for the content, which can be in the form of gamification and webinars, both of which are proven to increase efficiency of course delivery by instructors and also better retention among students.
  3. In lieu of the points mentioned above, blended learning is a more effective and efficient way of upskilling your workforce meaning which your company will see a greater return on investment much faster.
  4. Another advantage of blended learning is the easy accessibility of tracking all the pupil’s progress effectively so that you have a grasp on the progress of your employees. In a situation, if you find that one of your employees is falling behind, you can figure out new means of encouraging them, so that the whole batch learns in sync.

Mistakes to Avoid

Now that you know all about the benefits of blended learning, we are sure that you are immensely excited to try them out, but before you go ahead with your plan, mentioned below are some mistakes you need to avoid.

  1. Make sure that the LMS platform meets your exact requirements. Understand what each LMS is capable of and accordingly make an informed decision on which one to choose.
  2. Before you instruct your employees to finish the remaining course content online, analyze their progress offline. In a few instances, some employees might fall behind and thus it is important to analyze and understand their progress and make amendments to the course material before you proceed.

Conclusion

Blended learning is one of the latest additions in the world of EdTech and companies who have invested in it so far have reported significant results. Now that you know what it means and are aware of its benefits, go ahead and make an informed decision if this is best suited to meet your unique requirements.

To know more about this, feel free to visit: https://www.linkedin.com/showcase/contact-imarticus-learning/

Posted in COE

Scope of Fintech Courses in India

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.

Skill Acquisition vs Talent Acquisition: Which One to Choose?

As a recruiter, one of the most important questions we tend to ask ourselves is the difference between skill acquisition vs talent acquisition. At a moment’s glance, this might look like synonymous terms, but there is an underlying difference between both.

Skill acquisition is a short term fix and is chosen when companies need to address a challenge quickly, while on the other hand talent acquisition is a long term approach and is planned strategically so that the long term vision of the company can be addressed.

Being a professional recruiter, just by understanding the key differences between both these terms you can understand the needs of the company you are serving and thus fulfill its needs better.

In this short article, we will describe to you the difference between both these terms and how you can better use them to increase your efficiency. Let’s begin!

Skill Acquisition

Skill acquisition can be defined as the process of internal hiring where current employees of the organization are engaged in activities to up their current skills and thus bridge the current gap in the organization.

Talent Acquisition

Talent acquisition, on the other hand, can be defined as the process of external hiring where new talent is recruited in the organization to bridge the gap in the current ecosystem.

Now that you understand the underlying differences of skill acquisition vs talent acquisition, let us understand which one to choose when and which can be leveraged better.

Skill Acquisition vs Talent Acquisition: Which One to Choose

If you are looking to fulfill a current gap in the organization, hiring fresh candidates with the latest skills might sound appealing at first, but it also affects certain other aspects of the organization. Thus, it is necessary to realize which option to choose when.

Scale & Sustainability

If you are thinking about upskilling your present employees with up to date skills for the market, it all comes down to affordability. One of the most important aspects to understand before you take any decision is to analyze the present workforce and which skill will help them be better.

If you choose to upskill your present talent, not only will your reputation increase in the market, but it will also help you in better retention.

On the other hand, if you choose to hire new employees, you will get a name for favoring new talent over those that are already present.

Thus, both of these options have pros and cons and depending on the current state of your organization, you need to make an informed decision.

Keep Your Current Employees Motivated

One of the biggest downsides of hiring fresh talent is to keep your current employees motivated. Once your employees get the wind that new talent is coming, it is common for them to panic and starts applying to other jobs. This will result in severe effects on employee retention, which is disastrous for any company.

One of the best ways to overcome this obstacle is to keep your current employees motivated while hiring fresh new talent. When you are engaging them in any curriculum make sure to make it fun and interesting, instead of serving the same monotonous material.

Tell your employees about the benefits and prospects of undertaking this course and how it will equip them with better skills for the future. Show them that you care for them and that they are an asset to the organization. Only tying them legally to be in the company for a set amount of time after course completion, won’t restrict them from choosing a different organization over yours.

Creme Da La Creme

One of the biggest challenges organization’s face is to motivate the resistant learners in the workforce to learn new skills and upskill them. One of the best ways to overcome this challenge is to make the learning material interesting and incentivize it so that everyone takes it up.

Conclusion

As a recruiter, there often will be times when you are faced with the challenge of deciding between talent and skill acquisition. In these situations, look at the present scenario of the organization and understand its need and accordingly make an informed decision.

To know more, feel free to visit: https://www.linkedin.com/showcase/contact-imarticus-learning/

Posted in COE

How Can I Start Career in Blockchain Technology

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

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

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.