Both the technological apps for financial applications and the very process of financial transactions have undergone a sea-change from manual to cutting-edge since the Fintech revolution took off globally. Closer to home, India has been promoting the fintech industry in several ways and has openly declared that it proposes to encourage the sector to develop to its full potential.
Singapore’s Latest Course on Fintech:
The latest fintech training course in Singapore started with 20 students to offer affordable quality Fintech training to bankers, executives and career-oriented individuals. The course is proposed to run monthly with a batch size of 30 participants. NTUC and SFA saw more than 100 participants and job hopefuls take part in the fintech career fair organized by the Institute for Employability and Employment at Singapore’s M-Hotel.
The course has developed with the help of multiple partners like Ngee Polytechnic, NTUC, BFS Union and the Singapore Association for Fintech-SFA. Since most quality Fintech courses are paid courses and need to provide the latest technical and industry-relevant training, the proposed fee is between 71 SGD to 321 SGD after subsidies. They are sponsored by the government for individuals below 40 yrs of age which brings the cost down significantly against the total 1070 SGD (Singaporean Dollars).
The Fintech Course benefits:
·The foundation level program will train new workers and young-career participants to be able to function in the fintech environment and will also help acclimatize them to the fintech environment.
- The fee is affordable, and participants could take loans from the credit agency SkillsFuture to finance the course.
- Singapore is expected to see a plethora of jobs and an anticipated sizeable demand-supply gap for personnel.
- Artificial Intelligence, blockchain, and Big-Data courses can be specialized in after doing the foundational level course on Fintech concepts and fundamentals.
The Indian Scenario:
The governmental curbs to end black-money, the demonetization, the introduction of cheap 4G services by Jio, the mushrooming of Fintech courses, the simplified GST norms, and the government setting aside budgeted funds to develop this sector have been a boost in the arm. QR scanning and app-based banking solutions are currently the norms. The Digital India movement just three years ago in 2016 saw a majority switch to the ease of the UPI platform payments.
India is today the startup leader with Mumbai, Delhi, and Bangalore being the mainstay fintech hubs. There are about 2700 startups and a72 percent adoption rate for solutions for payments with many fintech startups being incubated at Bangalore, the Vizag Valley for Fintech, the T-hub of YES bank and Star Tank by Paypal.
The measures put in place:
Some of the time-boxed initiatives on setting up the Mumbai Fintech hub recently are:
- Setting up a base for startups and a nation-wide live fintech registry to provide able mentors, best practices and a collaborative environment
- Setting up accelerators and incubators similar to the corporate accelerators with multi-partner collaborations from reputed agencies NPCI, PayU, Fino Payments Bank, Zone Startups, Kotak, ICICI and Barclay Bank
- On-boarding of global investors will be showcased at road-shows where small players can interact, tie-up and collaborate in a safe and moderated environment
- The proposed platform for investors will see buy-side investors and sell-side startups
- A 3-year scheme of grants has been proposed for fund-creation for such startups, and the fintech industry, where the fund created will be agile and jointly self-managed
- To ease rental burdens, rental reimbursements to the tune of 4 lac Rs for three years have been offered to 50 such firms already.
- Fintech education, polishing innovative ideas and talent, and developing excellent coding skills are being focused upon as the verticals of thrust and promotion in a bid to suit the demand for personnel.
- Innovative Fintech courses are the need of the hour.
In parting, the fintech industry is rightly at an inflection point. If you wish to have a career in the fintech industry, check out the excellent course on Fintech at Imarticus Learning. It is on-par and way ahead in terms of benefits offered. Certification, assured placements, soft-skill training, and skill-oriented practical syllabi are just some of the key takeaways. Act today!
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