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Tag: career in Fintech

Exploring Top 7 FinTech Models

Posted on by Imarticus Learning
Reading Time: 3 minutes

In a world driven by digital innovation, financial technology (FinTech) has emerged as a transformative force, revolutionising the banking landscape and changing how we transact. As time continues to progress, FinTech is taking over the globe, converting traditional banking and transactional systems into convenient and efficient ones.

The dynamic fintech industry continues to evolve and advance, with 2023 poised to witness significant growth. Projections indicate that the fintech market is expected to expand and reach an impressive valuation of $174 billion in 2023! 

As FinTech continues gaining momentum, it transforms how we handle our money and creates new economic inclusion and financial empowerment opportunities. 

In this article, we’ll examine some of the top FinTech models reshaping the financial landscape and empowering individuals and businesses. We will also consider how to make a successful career in FinTech.

Top Seven Business Models for FinTech Companies

FinTech companies have introduced a myriad of revolutionary models that cater to the varied requirements of individuals and businesses alike. Let’s look at the top seven business models propelling the FinTech industry forward

Digital Banking 

This scenario is where traditional brick-and-mortar banks transition entirely to the digital realm, eliminating physical offices, bank tellers, and mail. Challenger banks like N26, Revolut, Tinkoff, Chime, etc., have exemplified this shift, providing straightforward individual and business bank accounts through a fully digital infrastructure. Customers can enjoy reduced rates and improved benefits by leveraging staff and real estate cost savings.

P2P Lending

Peer-to-peer (P2P) lending serves as a means for individuals to borrow money directly from other individuals, while businesses can also utilise this model to secure loans from other businesses. This approach facilitates lending for investors, who can potentially achieve superior returns compared to traditional debt markets.
FinTech companies can develop platforms that connect borrowers and lenders, charging fees based on repayment transactions.

Small Ticket Loans

FinTech companies like Affirm are addressing the obstacles the challenger banks and lenders face in underwriting smaller loans, which are often avoided due to low margins and high costs. These companies enable quick purchases without authentication or credit card details by offering impulse buy mechanisms, like buy now & pay later (BNPL) and one-click buy buttons.

These loans are often interest-free, with revenue generated through customer data sharing with original equipment manufacturers (OEMs), who benefit from increased affordability. Customised marketing offers are crafted using algorithms considering customer demographics, and data sharing can be seen as the “interest” on loan.

Alternative Credit Scoring

In certain instances, self-employed individuals with reliable income face challenges in meeting traditional bank loan requirements. This is due to stringent and outdated credit scoring criteria. 

FinTech companies are adopting a fresh approach by leveraging alternative data, such as social signals and scoring within comparable loan groups, combined with AI algorithms. This approach simplifies lending decisions and allows banks to potentially avoid loan recovery by identifying negative profiles before disbursing loans.

Digital Wallets

Digital wallets combine the functionalities of a simplified bank account and a payment gateway. Users can load virtual money into their wallets and utilise it for online or offline transactions with merchants accepting digital wallets. 

This business model offers convenience to users in their transactions, all while charging a small fee. These digital wallet providers generate revenue from merchant discount rates (MDR) and the float earned from unpaid balances. Popular wallet examples include Venmo, Square Cash, Apple Pay and Google Wallet.

Neo-banking

Neo-banking is a Fintech concept focused on creating agile and cost-effective digital platforms known as “neo-banks.” These neo-banks aim to provide faster, more efficient, and adaptable financial services. Neo-banks’ objectives can vary, with some focusing on online bank accounts while others assist in saving and budgeting.

API-based Bank-as-a-service Platform

Based on Application Programming Interface (APIs), the bank-as-a-service platform is a backend infrastructure that hosts independent FinTech startups and seamlessly integrates them with traditional banks. This enables financial institutions to launch products and expand into new markets efficiently. 

Non-banks can also leverage these platforms to introduce additional financial offerings and broaden their market presence cost-effectively.

Conclusion

From the rise of digital banking and P2P lending to the convenience of digital wallets and the innovation of neo-banks, FinTech companies are revolutionising how we access, manage, and invest our finances. With the potential for substantial growth, pursuing a career in FinTech has never been more enticing. 

Imarticus offers top-notch courses in FinTech by the Delhi School of Business, providing students with the knowledge and skills required for thriving in this dynamic industry. The course has future-oriented specialisation, an industry-aligned curriculum, expert guidance, and many more benefits to strengthen your career in the rapidly exploring FinTech domain. 

Embrace the future of finance and embark on a journey that merges innovation, technology, and financial expertise with the FinTech courses offered by Imarticus!

Decoding the Rise of Neobanks

Posted on by Imarticus Learning
Reading Time: 3 minutes

The global financial industry is under transformative siege by a phenomenon known as “neobanking.” These digital-first entities are redefining banking services, emphasising customer-centric solutions and challenging traditional banking norms. This rise of neobanks, in sync with the broader wave of digital disruption, is reshaping the landscape of financial services. 

As we proceed through this article, let’s unravel the world of neobanking and explore how a career in fintech could offer unparalleled opportunities in this evolving space.

An Era of Digital Disruption: The Advent of Neobanks

The neobanking phenomenon had its roots in the 2008 financial crisis when trust in traditional banks took a substantial hit. In parallel, the advent of smartphones and internet penetration paved the way for the digital revolution, making neobanks a reality. Today, neobanks have successfully carved out their niche in the financial ecosystem, with players like Revolut, Chime, and N26 leading the pack.

Unlike traditional banks, neobanks operate solely online, offering a gamut of services from money transfers to personal finance management and lending. They have managed to break free from the geographical constraints of brick-and-mortar branches and legacy IT systems, offering customer-focused solutions characterised by accessibility, simplicity, and personalisation.

Harnessing the Fintech Revolution: The Power of PGDM in Fintech

pgdm in fintech course

With neobanks and fintech firms revolutionising the industry, there’s an increased demand for professionals equipped with the right skills and knowledge. This requirement brings us to the significance of professional courses, such as a Post Graduate Diploma in Management (PGDM) in Fintech.

A PGDM in Fintech program is designed to bridge the skills gap in the ever-evolving fintech landscape. It provides comprehensive knowledge of financial products and services, technology’s role in finance, regulatory considerations, and much more. The course is structured to equip students with the required skill set to innovate, strategise, and manage fintech operations.

One such noteworthy course offering is the PGDM in Fintech by Delhi School of Business. This program, curated by industry veterans, integrates the latest developments in the fintech ecosystem, like neobanking, into its curriculum. It serves as a stepping stone for aspiring professionals aiming to navigate their careers in this dynamic landscape.

Building a Career in Fintech: Seizing the Neobanking Opportunity

The rise of neobanks has led to a surge in job opportunities within the fintech domain. From product managers and data analysts to compliance experts and software engineers, the sector has diverse roles to offer.

While technical skills form the core of these roles, what sets apart successful fintech professionals is a deep understanding of the business side of things – the understanding that courses like a PGDM in Fintech provide. This expertise facilitates better decision-making, a crucial aspect given the rapid developments and disruptions in the industry.

Moreover, fintech firms, including neobanks, value innovation and agility. Thus, being part of this industry opens up avenues to work on cutting-edge technologies, such as AI, blockchain, and big data, directly impacting the financial landscape.

The Future of Neobanking and Fintech

The world is only witnessing the dawn of neobanking. With customer preferences leaning towards digital experiences and regulators becoming more open to digital banking, the future looks bright for neobanks. From here on, the challenge for neobanks would be to maintain their momentum and continually innovate to retain their competitive edge.

In this dynamically evolving fintech environment, professionals must embody the spirit of lifelong learning. The terrain of fintech is in constant flux, and it’s a necessity for individuals who aim to succeed within it to adapt and upgrade their skills consistently. Taking a step towards a PGDM in Fintech could be the defining moment in this career progression, laying the groundwork for a fulfilling and successful journey in the realm of fintech.

In conclusion, the rise of neobanks and the broader fintech revolution offer tremendous opportunities for professionals and students alike. As we move towards an increasingly digital future, those equipped with the right skill set and knowledge, like those graduating from a well-structured fintech program, will undoubtedly have the upper hand in this exciting journey of financial innovation.

Fraud detection in credit card transactions

Posted on by Imarticus Learning
Reading Time: 4 minutes

In today’s globally interconnected world, the realm of financial transactions, though seemingly secure, harbors a menacing specter – the ominous threat of credit card fraud. Operating stealthily, it preys upon unsuspecting victims, wreaking havoc on their lives and finances. 

best Fintech course in India

As technology progresses at a rapid pace, the war against credit card fraud escalates in intensity. In this ongoing battle, the realm of fintech emerges as a pivotal force, combining the domains of finance and technology to combat this pervasive menace. Embarking on a career in fintech empowers professionals to tackle these threats on a profound and professional level.

Types of Credit Card Fraud

Here is a list of different types of credit card fraud:

  1. Lost or Stolen Cards: This sort of fraud occurs when the physical credit card is lost, lost, or taken, and another person utilises it without the proprietor’s approval. The fraudulent individual can make buys, pull out money, or manage different exchanges until the card is accounted for as lost or taken.
  2. Skimming: Skimming involves catching credit card data utilising a gadget introduced on an ATM, installment terminal, or other card perusers. The gadget is intended to peruse and store the card’s attractive stripe information, permitting fraudsters to make fake cards or utilise the taken data for online exchanges.
  3. Phishing: Phishing is a method where fraudsters stunt people into uncovering their credit card subtleties and other individual data. They frequently send fraudulent messages, make counterfeit sites, or settle on telephone decisions professing to be genuine associations like banks, retailers, or government offices. The objective is to delude casualties into giving their credit card numbers, passwords, or other delicate information.
  4. Information Breaks: Information breaks occur when programmers gain unapproved admittance to an organisation’s data set or organisation foundation and take credit card data alongside other individual information. These breaks can happen to huge partnerships, monetary establishments, or even private companies that store client installment subtleties. The taken information is then sold on the dim web or utilised straightforwardly for fraudulent purposes.
  5. Card-Not-Present (CNP) Fraud: CNP fraud occurs when a credit card is utilised on the web or for phone buys where the actual card is absent. Fraudsters get credit card data through different means and use it to make unapproved exchanges. This kind of fraud is especially difficult to forestall since the check cycle principally depends on the card subtleties as opposed to actual presence.
  6. Account Takeover: Record takeovers occur when fraudsters gain unapproved admittance to an individual’s credit card account by taking login certifications or individual data. When they have command over the record, they can make unapproved exchanges, change contact data, or request extra cards for their utilisation.
  7. Fake Cards: Fake cards are made utilising taken credit card data. Fraudsters encode the taken information onto clear or modified credit cards, repeating the first card’s subtleties. These fake cards are then utilised for fraudulent exchanges until the fraud is distinguished.
  8. Data fraud: Wholesale fraud involves the fraudulent utilisation of somebody’s very own data, including credit card subtleties, to lay out new credit accounts, make buys, or manage monetary exchanges. This kind of fraud can cause critical monetary and reputational harm to the person in question.

Circumvention of Credit Card Fraud Using Fintech

It is critical to take note that fraudsters are continually advancing their strategies, and new techniques might arise over the long run. Remaining informed about the most recent fraud patterns and playing it safe can assist people and associations in alleviating the dangers related to credit card fraud.

Here is how fintech helps in the detection of credit card fraud:

Real-time exchange checking:

  • Algorithmic examination: Algorithms are used in fintech technologies to analyse credit card transactions in real-time.
  • Assessment of the risk factors: Each transaction’s various risk factors are evaluated by these algorithms.
  • Detection of suspicious activity: A transaction that is flagged as suspicious can either be automatically blocked or investigated further.

AI and man-made brainpower (artificial intelligence):

  • Training with data: Fintech organisations train AI models on enormous datasets of genuine and fake exchanges.
  • Detection of patterns and anomalies: Patterns and anomalies that could indicate fraudulent activity can be identified by the trained models.
  • Versatile learning: The calculations can adjust to advancing extortion designs, further developing location precision over the long haul.

Analytics of behavior:

  • Establishing the baseline: A cardholder’s typical spending and usage patterns are established by fintech platforms.
  • Deviation identification: Alerts and additional security measures are triggered when there are deviations from the baseline, such as unusual transaction amounts or locations.
  • Assessment of risk: Based on previous data, behavioral analytics aid in determining the transaction’s risk.

Geolocation and gadget profiling:

  • Analyses of location: Fintech innovations break down the geological area of an exchange and contrast it with the cardholder’s typical examples.
  • Unusual detection of a location: Potentially suspicious transactions are flagged when they originate from a foreign location.
  • Particulars of the device: Gadget profiling inspects qualities like IP address, gadget type, and perusing conduct to recognise expected extortion.

Tokenisation and encryption:

  • Tokenisation: Tokenisation is a technique used by fintech technologies to substitute unique tokens without intrinsic value for actual card information.
  • Information insurance: Tokenisation limits the gamble of information robbery since the tokens hold no delicate data.
  • Encryption: When data is transmitted during online transactions, encryption ensures that it remains private and secure.

Data sharing and collaboration:

  • Collaboration among businesses: Banks, payment processors, and other financial institutions collaborate with fintech companies.
  • Information and bits of knowledge sharing: The sharing of data and insights into fraud patterns is made possible by collaboration.
  • Complete misrepresentation identification: The creation of more robust fraud detection systems is made possible by the sharing of information and collective intelligence.

Upgraded verification and biometrics:

  • Biometric incorporation: Biometric authentication methods like facial recognition or fingerprint recognition are incorporated into fintech technologies.
  • Character check: Biometrics add an additional layer of assurance in confirming the personality of the cardholder.

Conclusion

You can opt for a career in fintech if you wish to be a part of this highly promising domain that combines financial services and technology. To enhance skills in fintech and other related areas, professionals can enrol in a fintech course such as the Professional Certificate in Fintech offered by Imarticus in collaboration with the SP Jain School of Global Management.

Peer-to-Peer (P2P) Lending and Crowdfunding Platforms

Posted on by Imarticus Learning
Reading Time: 5 minutes

Platforms for peer-to-peer (P2P) lending and crowdfunding significantly changed how people borrow and invest money. In this clause, we will explore the concepts of P2P loaning and crowdfunding, and realise how financial technology, cloud computing, and blockchain technology play a significant role in defining these platforms.

How does Peer-to-Peer (P2P) Lending Work?

Explanation of Peer-to-Peer Lending

People can borrow money from one another through peer-to-peer lending, sometimes referred to as social lending, without utilising conventional banking institutions. In a P2P lending platform, borrowers make loan listings specifying the amount they need and the involvement rate they are very willing to pay. Then, investors may pursue these listings and decide to finance the loans that correspond to their investment objectives.

Benefits of Peer-to-Peer Lending

  • Access to Credit: P2P lending offers borrowers who would struggle to get loans from banks owing to a lack of credit accounts or other factors an additional source of credit. 
  • Competitive Interest Rates: Borrowers may feel more favourable interest rates on P2P lending platforms compared to traditional lenders. 
  • Diversification: Investors can spread their investment across multiple loans, reducing the risk associated with a single borrower defaulting. 
  • Ease of Use: P2P lending platforms offer user-friendly interfaces and streamlined processes, making it convenient for borrowers and investors to participate.

Crowdfunding Platforms and Their Features

Overview of Crowdfunding

Crowdfunding is a method of rearing funds from a big figure of people, typically through an online platform. It enables individuals or businesses to very present their projects or ideas to a full audience and cod contributions from interested individuals, known as backers or donors.

Different Types of Crowdfunding Platforms

  • Reward-Based Crowdfunding: Backers conduct finances in exchange for non-monetary rewards, such as a production taste or an item of appreciation. 
  • Equity-Based Crowdfunding: Investors invite equity or shares in the project or concern they are funding. 
  • Donation-Based Crowdfunding: Individuals donate money to support a reason or help someone in demand, without any outlook of financial returns. 
  • Debt-Based Crowdfunding: Similar to P2P lending, individuals lend money to others and receive a quittance with a stake over a specified point.

Benefits of Crowdfunding Platforms

  • Access to Capital: Crowdfunding allows entrepreneurs and individuals with innovative ideas to raise funds without the need for traditional funding sources. 
  • Market Validation: Successful crowdfunding campaigns can validate the product or service before its genuine launch. 
  • Community Engagement: Crowdfunding platforms facilitate interaction between external creators and backers, fostering a sentiency of community and support. 
  • Brand Exposure: A well-executed crowdfunding movement can generate extremely important media reportage and increase brand visibility.

The Role of Financial Technology in Peer-to-Peer (P2P) Lending and Crowdfunding

Introduction to Financial Technology

Financial technology, also very known as fintech, refers to the use of technology to raise and automate financial services. It encompasses a wide-cut straddle of applications, including roving banking, digital payments, robo-advisors, and more.

Impact of Financial Technology on P2P Lending

  • Efficiency and Automation: Fintech solutions have streamlined the loan origination process, reducing the time and paperwork required for loan approvals. 
  • Risk Assessment: Advanced algorithms and data analytics enable P2P loaning platforms to assess the creditworthiness of borrowers more accurately. 
  • Scalability: Fintech platforms can handle a large volume of loan transactions simultaneously, allowing for speedy growth and scalability.

Role of Financial Technology in Crowdfunding Platforms

  • User Experience: Fintech solutions enhance the user experience on crowdfunding platforms by providing easy-to-use interfaces and secure payment gateways. 
  • Investor Protection: Fintech tools help verify the identity of project creators and ensure compliance with regulatory requirements, reducing the risk of fraud. 
  • Marketplace Facilitation: Fintech platforms connect investors with suitable projects based on their preferences and risk appetite, facilitating efficient capital allocation.

The Influence of Cloud Computing in P2P Lending and Crowdfunding

Definition and Benefits of Cloud Computing

Cloud computing refers to the delivery of computing resources, such as storage, processing powerfulness, and package applications, over the internet, on demand. It offers various advantages, including:

  • Scalability: Cloud computing allows P2P lending and crowdfunding platforms to scale their operations easily as user demand increases. 
  • Cost Efficiency: By leveraging cloud infrastructure, platforms can avoid significant upfront investments in hardware and software. 
  • Reliability: Cloud providers offer high availability and redundancy, ensuring platforms remain accessible and functional even during peak periods.

Application of Cloud Computing in P2P Lending

  • Data Security: Cloud providers implement robust security measures to protect sensitive borrower and investor data from unauthorised access. 
  • Real-Time Data Processing: Cloud computing enables platforms to process and analyse large volumes of data in real-time, allowing for faster loan approvals and investment decisions. 
  • Collaboration: Cloud-based platforms facilitate seamless collaboration between borrowers, investors, and platform operators, enhancing communication and transparency.

Implementation of Cloud Computing in Crowdfunding Platforms

  • Scalable Infrastructure: Cloud-based infrastructure ensures crowdfunding platforms can handle a large number of simultaneous contributors without performance degradation. 
  • Geographical Reach: Cloud computing enables crowdfunding platforms to serve a global audience, breaking geographical barriers and expanding the potential donor pool. 
  • Data Storage and Backup: Cloud storage solutions provide reliable and secure storage for project-related documents, updates, and communications.

The Significance of Blockchain Technology in P2P Lending and Crowdfunding

Explanation of Blockchain Technology

Blockchain technology is a decentralised and transparent digital ledger that records transactions across multiple computers. It offers several benefits, including:

  • Trust and Transparency: Blockchain ensures the immutableness of dealings records, providing transparency and trust in the lending and crowdfunding process. 
  • Smart Contracts: Smart contracts, powered by blockchain, automate the execution of loan agreements and crowdfunding contracts, reducing the need for intermediaries. 
  • Fraud Prevention: Blockchain’s cryptographic algorithms make it difficult for malicious actors to tamper with transaction records or engage in fraudulent activities.

Benefits of Blockchain in P2P Lending

  • Identity Verification: Blockchain enables secure and efficient identity verification, reducing the risk of fraud and improving the accuracy of borrower assessments. 
  • Reduced Costs: By eliminating intermediaries, blockchain-powered P2P lending platforms can lower transaction costs and offer competitive interest rates. 
  • Faster Settlement: Blockchain’s ability to facilitate real-time settlement reduces the time required for loan disbursement and repayment.

The Utilisation of Blockchain in Crowdfunding Platforms

  • Tokenization: Blockchain enables the creation of digital tokens representing ownership or investment in crowdfunding projects, enhancing liquidity and tradability. 
  • Transparency in Fund Allocation: Blockchain allows backers to track the utilisation of funds raised, ensuring transparency and accountability. 
  • Global Accessibility: Blockchain-powered crowdfunding platforms provide an approach to a global investor network, expanding the contact of fundraising campaigns.

Conclusion

Fintech course

Platforms for peer-to-peer lending and crowdfunding have upended conventional finance methods, giving people and enterprises new chances to acquire cash and support their endeavours. The fusion of financial technology, cloud computing, and blockchain technology has enhanced the effectiveness, security, and accessibility of these platforms. As the fintech ecosystem grows and changes, P2P lending and crowdfunding are ideally positioned to further alter the financial industry.

If you’re interested to learn financial technology and know more related to blockchain course consider enrolling in Imarticus Learning’s Professional Certificate In Fintech to gain the skills and knowledge needed to succeed in this exciting field.

Visit Imarticus Learning to learn more.

The Fundamentals of Cloud Computing

Posted on by Imarticus Learning
Reading Time: 4 minutes

The cloud has transformed how businesses and individuals store, manage, and analyse data. It provides numerous advantages, including faster invention, more flexible resources, and economies of scale. 

This article will examine the fundamentals of cloud computing, its architecture, service classes, deployment methodologies, and some major public cloud service providers.

What is cloud computing?

Cloud computing refers to delivering computing services via the internet, colloquially known as “the cloud.” These services include servers, storage, databases, networking, software, analytics, and intelligence. In other words, it is a comprehensive solution delivering IT  as a service. 

As opposed to traditional computing models, which store data and applications on local servers or personal computers, cloud computing allows users to access their resources and apps from any location with an internet connection.

best fintech course in India

One of the most significant characteristics of cloud computing is its ability to provide flexible resources. Cloud service providers can distribute and reallocate computer resources dynamically based on demand, assuring optimal performance and cost efficiency. This adaptability enables firms to scale their infrastructure up or down as needed without requiring large upfront hardware or software investments.

The architecture of cloud computing

Cloud computing architecture is constructed using a network of remote servers situated in data centres managed by cloud service providers. These data centres store and process large amounts of data. The architecture has two components: front-end and back-end. 

The front end involves client devices or applications that users interact with, while the back end includes cloud servers, storage systems, and several software applications that form the cloud infrastructure.

The cloud is built on distinct layers, each offering different functionality. Cloud computing presents different service classes to suit various user needs, with the most popular options being Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS). 

SaaS – It is the topmost layer of the cloud. SaaS provides cloud-hosted software applications that prevent the need for local installations. A prime example of a SaaS provider is Google Pack. 

PaaS – Paas forms the intermediate layer and gives developers a platform to develop, deploy, and manage applications without worrying about the underlying infrastructure. It also gives clients access to operating systems and associated services. Amazon’s Elastic Compute Cloud (EC2) is an example of a PaaS provider.

IaaS – The cloud’s foundation lies in the infrastructure. IaaS provides virtualised computing resources, such as servers, storage, and networking, which offer users more control and flexibility over their infrastructure. An example of organisations benefitting from IaaS is POD (Print On Demand) services.

Types of cloud computing

The cloud has evolved into different types, models and services to cater to the changing needs of people. There are primarily 3 types of clouds ⎯ public, private and hybrid.

  • Public Cloud – A cloud owned and managed by third-party service providers to deliver IT services like servers and storage over the web to multiple clients is known as a public cloud. 

There are various notable participants in the industry when it comes to public cloud service providers. Microsoft Azure is a leading supplier, offering a wide range of cloud services such as computing power, storage, and analytics. 

Amazon Web Services (AWS), Google Cloud Platform (GCP), and IBM Cloud are some of the other prominent providers, each with its own set of services and capabilities to meet the demands of diverse customers.

  • Private Cloud – It is dedicated to a single organisation and can be located on-premises or hosted by a third-party provider. In this case, services and infrastructure are maintained on a private network.
  • Hybrid Cloud – A hybrid cloud combines public and private cloud models, allowing organisations to take advantage of both benefits. It facilitates sharing of data and applications between public and private clouds, offering companies greater flexibility and deployment options. It is ideal for optimising existing infrastructure, security and compliance.

Apart from the three above clouds, a fourth cloud, the community cloud, also exists. Multiple organisations share it with common interests, such as industry-specific regulatory requirements. 

Applications of cloud computing

Cloud computing pervades every layer of our digital existence. From watching movies, sending emails, and editing documents to playing your favourite music, cloud computing works behind the curtain to make everything seamless.

Some common applications of cloud computing include -: 

  • Using an offsite cloud storage system to store, recover and back up data to ensure easy accessibility from anywhere, anytime. 
  • Streaming audio and videos from any location or distributing the service to connect with audiences.
  • Using cloud infrastructure to test and build applications.
  • Creating, deploying and scaling cloud-based applications — mobile, web, API.
  • Unifying data across divisions, teams and locations in the cloud. Discover insights by using cloud services like machine learning and artificial intelligence.

Conclusion

Cloud computing is a robust and scalable solution for storing and processing data, driving innovation and enabling organisations to thrive in the digital age. It has transformed the way businesses and individuals leverage technology. Enrol in a reputable fintech course to learn the fundamentals of cloud computing and explore the job market.

Imarticus and SP Jain School of Global Management’s Professional Certificate in Fintech covers the basics of the fintech industry, including machine learning, cloud computing, artificial intelligence, and API, apart from core finance concepts. Check out their website now!

Emerging Fintech Trends to Watch Out in 2023

Posted on by Imarticus Learning
Reading Time: 3 minutes

Fintech has always continued evolving and acclimatising to the newest technological innovations. However, the pandemic fuelled its growth like never before. The fintech industry is still evolving, amassing the brilliance of rapidly evolving technological solutions to create a secure and accessible financial market.

Fintech Course

With rapid digitisation and a growing consumer base- the fintech market in India now stands as one of the fastest-growing financial markets in the world. The industry is speculated to grow to a $150 billion market size in the next two years. Therefore it is the perfect time for both fintech aspirants and professionals to start upskilling themselves with the growing trends of the industry. 

Whether it is through a certified fintech course, or hands-on experience, one must keep abreast of the innovations that are revamping the fintech market every day.

In this blog, we will read about the emerging trends in the Fintech industry in 2023. 

How India’s Fintech Sector Reached Unprecedented Heights

The Fintech sector in India has shown stark growth prospects, propelled by several key factors. One of them is the rapid digitisation of transactions, increasing technical awareness and smartphone penetration. Harnessing this opportunity, small, medium, and large-scale entrepreneurs crafted innovative financial solutions to adapt to growing consumer demands. 

Introducing these disruptive solutions has in turn attracted substantial investments and collaborations between fintech companies and traditional financial institutions. This has facilitated the seamless integration of digital services into established banking systems. 

At the same time, rising investments from venture capitalists and private equity firms have fuelled expansion and innovation within India’s fintech ecosystem. The industry further stresses crafting innovative fintech solutions owing to the building consumer demands for secure, accessible, and convenient financial services.

Therefore, this is the best time to take up a fintech course and kickstart a thriving career in the field.

Important Fintech Trends to Look Out for in 2023

In 2023, the fintech industry will experience significant trends that will shape the future of finance. These important trends to look out for include:-

Artificial Intelligence and Machine Learning 

The adoption of AI and ML technologies will enhance operational efficiency and personalise the customer experience. These advancements revolutionise fraud detection, risk assessment, and customer service in financial institutions. 

Decentralised finance 

The rise of DeFi platforms offers greater financial inclusion and eliminates the need for intermediaries. This disrupts conventional financial systems, thus enabling peer-to-peer borrowing, lending, and investing. The demand for DeFi platforms has constantly been on the rise, and the market is expected to reach a global valuation of more than $230 billion in 2030. 

Open banking and APIs 

Open banking initiatives will drive the collaboration between financial institutions and fintech firms to an estimated global market value of $48.13 by 2026. This will promote sharing financial data through secure APIs, enabling seamless integration of services and delivering personalised financial products.

Sustainable finance 

The focus on environmental, social, and governance (ESG) factors will drive the development of green finance solutions and impact investing. In less than five years, ESG assets are estimated to take over 21.5% of total global assets. To keep up with this, financial institutions will increasingly prioritise sustainable investments and align their strategies with ESG principles.

Quantum computing 

The emergence of quantum computing will have implications for data analysis, cryptography, and risk modelling in the financial industry. It uses the applications of quantum mechanics and functions beyond classic computational powers. This technology offers immense processing power, enabling more sophisticated financial analysis and enhanced security measures.

RegTech 

Regulatory technology (RegTech) will streamline compliance processes, helping financial institutions meet regulatory requirements more efficiently. The technology already caused a stir in the industry when its global market grew from $9.93 billion in 2022 to $12.37 billion in 2023. RegTech solutions will further automate compliance monitoring, reporting, and risk management, ensuring adherence to changing regulations.

Biometrics and authentication 

Biometric technologies, including facial recognition and fingerprint scanning, will enhance security and user authentication in financial transactions. These technologies provide more secure and convenient access to financial services.

Conclusion 

With the growing technological prowess in fintech, a wide range of services that are specifically tailored to the needs of each person will emerge as a result of sophisticated automation and integration. The industry is also expected to fully harness the power of these technological innovations to eventually eliminate the current challenges. 

While the fintech industry sets the roadmap for an ever-evolving financial market, a fintech course will be extremely beneficial for individuals and businesses who want to keep up with the game-changing trends in the market.

How to start a career in fintech – 5 things every fintech professional should know

Posted on by Imarticus Learning
Reading Time: 3 minutes

How to start a career in fintech – 5 things every fintech professional should know.

Financial technology, also known as Fintech, is an umbrella term to describe new technologies used to improve financial services. It can include everything from mobile payments and digital currencies to blockchain and AI. It’s one of the fastest-growing industries in India. 

The world of finance is constantly evolving and growing more complex. As a result, there is a growing demand for Fintech experts who can help businesses navigate the ever-changing landscape. 

And if you’re looking to start your career in Fintech, there are a few things you need to know. In this blog, we’ll look at 5 of these things.

  1. Understand The Basics Of Fintech

To start a career in Fintech, you must have a strong understanding of the basics of financial technology. It includes understanding how fintech companies use data and analytics to provide innovative financial services.

You can use financial technology to improve financial services in many ways, such as:

  • Making it easier for users to access banking services through mobile banking
  • Providing new and innovative products and services like digital currencies
  • Improving financial institutions’ efficiency by automating financial tasks. 
  • Blockchain creates a secure, decentralized ledger of transactions.

  1. Understanding The Regulatory Environment Surrounding Fintech

Every Fintech professional should know the regulations before starting their career in the industry. 

With the environment constantly changing and evolving, it’s essential to stay up-to-date on the latest developments. Several regulatory bodies oversee Fintech, so it’s essential to know which one applies to your specific area of interest. 

Understanding the regulatory environment will help you navigate the fintech landscape and make the best choices for your career in Fintech.

  1. Different Types Of Fintech Companies And Their Business Models

It’s vital for anyone starting a career in Fintech to understand the different types of Fintech companies and their business models.

There are mainly four types of fintech companies, each with its unique business model, and knowing the difference is essential for anyone looking to start a career in Fintech. 

  • Payments companies focus on providing a better way to make and receive payments. They provide the infrastructure that allows businesses to accept electronic payments, including mobile payments to peer-to-peer (P2P) payments. Common payment processors include PayPal and Stripe.
  • Lending companies use technology to streamline applying for and receiving loans. These companies connect borrowers with lenders, typically via an online marketplace. 
  • Investing companies use technology to make it easier for people to invest their money in various assets, including stocks, bonds, and cryptocurrency. This can include online investment platforms, like Zerodha, Groww, etc. 
  • Personal finance companies use technology to help people manage their finances, budget, and save money. This includes budgeting apps, money management tools, and financial advisory services.

There are also these Blockchain startups working to develop and commercialize blockchain technology, often for use in financial services. Coinbase is one of the well-known blockchain startups.

  1. Potential Benefits And Risks Associated With Fintech

Fintech is a rapidly growing industry with immense potential. It can provide various benefits, including financial rewards, personal satisfaction, and the chance to help shape an industry. However, there are associated risks that fintech professionals should be aware of before starting a career in the field. 

The potential benefits of Fintech include:

  • Ability to create new and innovative financial products and services.
  • Disrupt traditional financial models and create new jobs and opportunities.
  • Provide more efficient and convenient services.

However, there are also risks associated with Fintech, including:

  • Potential for fraud and scams.
  • Unexpected regulatory changes.
  • Data security breaches. 

  1. Consider Skills And Experience

There are a few things that every Fintech professional should know if they want to start a career in this field. 

  • It is vital to have a strong understanding of financial concepts and principles. 
  • Experience in using financial technology (Fintech) tools and platforms is also essential. It is always helpful to have experience working with financial data and software.
  • Finally, effectively communicating with clients and other financial professionals is key to success in this field. 

With these skills and attributes, any Fintech professional can have a successful career in this rapidly growing industry.

Conclusion

A career in Fintech can be enriching and exciting. 

There are many great fintech courses available in India, and a blockchain certification can help you stand out from the crowd.

If you’re interested in a career in Fintech, now is the best time to start. You can check out one of the best Fintech courses in India offered by Imarticus Learning in collaboration with SP Jain School of Global Management. You can check out the program webpage for chat support or visit one of the centers to learn more about the program.

Fintech and You: Demystifying the tech landscape

Posted on by Imarticus Learning
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Fintech is one of the most rapidly growing industries. The majority is still unknown about the potential a Fintech landscape holds. It combines finance and technology. The two most important sectors, coming together to empower services, can fuel significant growth in any field that leverages its power. Its biggest example can be seen through the growth of cryptocurrency, taking over the tech and finance world with its influence. 

Technological advancements are driving financial bodies like banks to restructure their framework to keep up with the digitized convenience for both customers and employees. The improvised tech advances make financial services more convenient and accessible to the general public, strengthening Fintech’s grip on the financial sector, and pushing it towards better opportunities.

A career in Fintech is gaining equal importance with growing understanding and opportunities. With Fintech being one of the fastest-growing industries, brands partner with fintech startups to stay relevant in the market. Fintech industries comprise rising startups and established brands adapting to digitized finances, raising fintech awareness among the strata still skeptical about acknowledging the trend.

So, how and where does Fintech exactly work? 

What is Fintech?

Fintech combines the current two most powerful sectors, finance, and technology, coming together to automate financial services for user convenience and growth. Tech advancements partnering with financial institutions can reap benefits for businesses as well as customers in numerous ways; banking facilities being available at your fingertips is the most relevant example. 

Along with fueling smoother processes, Fintech prioritizes financial safety, thus, incorporating various security measures for easy but secure transactions. Innovation is the key fueling power of fintech endeavors as the run to create new and better services is driving tech entities to provide services better than ever before. 

How does Fintech work?

Fintech is not created out of the blue; it has always been a part of the world, right from banks incorporating digital devices to manage money. Yet, the recent evolution in the fintech field and the growth of startups extending innovative projects have fueled it more than ever. However, the introduction of technology like Artificial Intelligence and Machine Learning has led fintech projects to reach the next level. 

With machines making use of enormous data flow, businesses can deliver more personalized services, improving customer satisfaction as a result. Fintech either works to enhance the services dealing with finances or partners with it to provide maximum security and convenience towards a well-rounded experience. Needless to say, its presence has drawn cost-effective and time-saving benefits. 

Fintech-run industries

Banking is the oldest financial sector, now seeking fintech services to strengthen its roots towards security, convenience, improved services, and most of all, time management. Customer interaction has been drastically improved through the years with the elaborate use of technology.

Cryptocurrency and trading is another widely known fintech sector gaining prominence among the masses through its innovative idea of creating digitized currency. It is a unique stratum of Fintech working to strengthen the use of decentralized currency. On the other hand, Fintech has powered the intricate field of trading to be a household affair, leading people to run, analyze and make informed trading decisions on their own.

What’s Ahead?

Fintech is going through a period of significant growth, with diverse sectors partnering with fintech startups to make their brands futureproof. Digitally-minded customers understand the requirement and reach of tech-driven endeavors, therefore prioritizing it in every service they work with.

Fintech is equally growing among IT and finance aspirants looking to be a part of the revolutionary industry. Fintech courses in India offering fintech certification programs are available for learners to take part in and gain knowledge of the ongoing innovation!

Why fintech certification courses are thriving right now

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The fintech revolution is nowhere, and it is here to stay. Several fintech certification programs are now gaining popularity as fintech is becoming a prevalent industry among the people who aspire to make a career in finance. If you want to build a career in fintech, you will have to have a degree or certification. A degree will give a professional standing that you are equipped enough to work in the industry.

India is known to be one of the fastest-growing economies. Therefore, the traditional financial space is getting smaller, and technology is taking precedence over everything else in the finance space. A fintech course will help you be a part of this growth where you can drive the industry by being at the helm of affairs.

Benefits of Doing a Fintech course

There are several benefits of doing a fintech course. Some of these benefits are listed below:

  • It gives you an edge.

While all the traditional banking professionals are figuring out their way around technology, you will have an edge if you are opt-in for a fintech course. You will have a better understanding of the implementation of technology in space, which will give you a competitive advantage over all of your colleagues. It will also open up a world of new possibilities for you.

  • Technological Awareness

Every day, there is an innovation in technology that can impact the fintech space. A course will keep you abreast of these upcoming innovations in space. Technological awareness will also help you in understanding the area better. You do not need any expertise in understanding these technological innovations. However, you will get a massive edge over others once you know them.

  • A big career move

A course in fintech can change the entire career ballgame for you. Only a few people in the market currently understand the industry pretty well. This is because the industry is relatively new, and many professionals do not have the technical know-how to manage the industry. A degree or a certification in fintech will help you in upskilling yourself, and it will also prepare you for the industry. You can explore all kinds of roles in the fintech space with the help of a degree.

  • Decentralization

The primary aim of any industry is to minimize the involvement of third-party vendors. Fintech is one space that is growing exponentially. Therefore, the use of third-party vendors inhibits the speed of this growth. Fintech aims at making companies self-reliant where they can manage everything at their end.

With fintech, the space of third-part vendors is now dwindling as it wants to make all the transactions smoother and better. This has also helped save money for the consumers who earlier used to pay an additional amount as all the transactions were processed using a mediator.

There are several benefits of doing a fintech course. It not only makes you ready for the industry but also helps build an understanding of how the economy is going to work from here on.

Conclusion

We at Imarticus are known for some of the best fintech courses in India. We have a professional certificate in fintech program for working professionals who aspire to make a career in fintech. We also have a Master of Business Administration (MBA) Specialisation in fintech for students and professionals who want to have a master’s in fintech.

The curriculum of these courses is designed by some best fintech experts in the country who know how the world of fintech is shaping. These courses will give you an in-depth understanding of how the fintech space works and the growth possibilities in the world of fintech.

What is SaaS in Cloud Computing?

Posted on by Imarticus Learning
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Cloud computing has opened up endless possibilities for businesses to implement in their operational activities or services. Before cloud computing, companies had to maintain the IT infrastructure themselves and use in-house hardware to support their services, which was both expensive and tiresome.

With cloud service providers like Google, Amazon, and Microsoft becoming increasingly lenient with the pricing in respect to the services they are offering, many companies have been shifting to cloud-based platforms. Notably, it is much more cost-effective for companies to use SaaS products from third-party providers instead of having their own architecture.

Cloud Computing courseSaaS stands for Software as a Service, fundamentally being applications, services, and platforms hosted by third-party companies. These are generally subscription-based and are accessible to users across the globe, being highly scalable, as compared to software that is bought and then installed in systems.

Further, a career in fintech or business technology requires individuals to know all about SaaS and other cloud computing solutions. Thus, good financial technology courses or well-reputed fintech courses online are definitely recommended for interested individuals. Read on to know more…

What Benefits does SaaS bring to Cloud Computing and Businesses?

SaaS has many advantages that it brings to the table for businesses across the globe. To understand how SaaS products truly work and how business processes benefit from them, one must join the best fintech courses in India. However, some of these benefits are common across all platforms and very valuable. Let us look at them one by one:

  • SaaS is cost-effective, not requiring maintenance, and being much cheaper. SaaS products, generally, are offered in pay-as-you-go subscriptions which only require businesses to pay as long as they use the service. There is no long-term commitment or massive investment required.Strategy analysis
  • SaaS training is scalable and provides many accessibility benefits. SaaS makes software and services mobile or portable, meaning that multiple employees or customers across the world can access them parallelly.
  • It provides support for integrations and constant upgrades. There is the easy availability of APIs.
  • The top cloud services provide data safety and security which ensure that your business processes or client/customer data is never compromised.
  • SaaS removes the need for IT infrastructure, IT departments, or even powerful hardware and servers.

Types of SaaS Products offered by Cloud Providers

From products that help manage finances to the ones that let teams collaborate and work on files, cloud services provide everything to users. If one wishes to learn more about cloud computing products that businesses can use, then the best fintech courses in India or other reputable fintech courses online can definitely help. Here are some of the types of services, software, and applications which cloud service providers offer as SaaS products:

  • Enterprise resource planning software
  • Customer relationship management software
  • Billing software
  • Sales management software
  • Document management software
  • E-mail services and integrations for marketing
  • Collaboration software or team services
  • E-commerce software

SaaS products open up more opportunities for smaller or more local companies, allowing them to enjoy the benefits and services that big companies experience. SaaS is also one of the most focused upon methods of providing services to multiple users. And, with cloud computing picking up pace incredibly fast globally, SaaS products are becoming one of the most preferred choices for many companies.

If one wishes to pursue a career in fintech, then good financial technology courses such as MBA in fintech offered by Imarticus can definitely help you move forward with your dreams.