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Tag: Fintech skills

Skills and Tools Which Are Required in Fintech Industry

Posted on by Imarticus Learning

FinTech which stands for Financial Technology is a rapidly growing but highly expansive field. FinTech’s areas of interest are many such as Net Banking, Cryptocurrency, Insurance, Trade, Application Design, and Online wallets. Since this interdisciplinary field is so widespread, it entails professionals from a wide variety of disciplines within its folds. A software designer and an accountant both can work in the field of financial technology, as this field caters to a large set of skills.

Some of the most sought after skills and tools in FinTech Course

● Cybersecurity expertise: One of the main threats that the FinTech industry faces is malware infections and hackers. If a financial technology system is infected and its data gets breached then, the corporation can face penalties; hence people who can secure the computer systems from virus invasion and prevent a breach of privacy are of great value in FinTech.

● Machine learning and Artificial Intelligence: FinTech works heavily with artificial intelligence. This field needs people who have apt statistical knowledge and instincts. One needs continuous analysis and study of data in FinTech. A candidate who knows how to use the machine learning to add, edit, remove, and study statistics will always be a useful addition in the FinTech industry. A person is needed to be proficient in Hive, SQL, and Pig. They are also expected to know how to work with toolkits like Weka, Python, NumPy, and MatLab.

● Soft Skills: The nature of FinTech industry is highly collaborative. A person is required to work closely with people who come from different backgrounds. This makes it necessary for a worker to have soft skills like teamwork, the ability to work in a group and be amicable. This industry also requires people to be highly open to ideas, edits, and suggestions so a person who is not receptive to feedback will not be a good fit for this industry. People with soft skills help in team-building and communicating ideas. They are useful in managing human resources and resolving conflicts that might arise in different groups due to the dense presence of workers from different disciplines.

What are the challenges and questions of the FinTech industry?

Like all industries in the world, FinTech also has its share of problems and challenges. FinTech is a relatively new industry; hence its challenges are still being explored. But over the years, government regulations and breach of data are the two main challenges faced by FinTech companies.These restrictions and lack of government support prevent these innovative companies from establishing themselves due to legal and bureaucratic hurdles. These problems are particularly harmful to start-ups than established companies.

Another major challenge that surrounds FinTech is that of hacking and breach of privacy. In the world of Big Data, information is gold, and hence hackers and cybercriminals are always on a lookout for profitable data. The breach of security by hackers or malware infection in FinTech brands does not just ruin the credibility of the company but it also leads to fines and penalties.
Some of the strictest penalties for FinTech corporations are made by the European Union (EU). All FinTech companies that are practicing in the European Union are mandated to adhere to the GDPR guidelines that deal with privacy and data protection. Any FinTech company that fails to protect the data of its users can face up to 20 million euros in fines or give up 4 per cent of their annual turnover in penalty. To prevent any intrusion by hackers, FinTech institutions end up splurging a copious sum of money into developing firewalls and other security systems such as anti-viruses. Not just money but time is also spent in ensuring that the information base is secure from all kinds of Trojans, malware, and snooping.

Conclusion

Contrary to popular belief, FinTech is not completely run by engineers or bankers only. Even people who are not particularly tech-savvy can work here in a highly collaborative space. In this cabalistic and digitalized world, by taking a Fintech Course you will be able to understand the immersion of financial technology which is in almost all kinds of fields and disciplines around the urban world.

The 5 Most In-Demand Skills In The FinTech Industry!

Posted on by Imarticus Learning

If there is one field that is growing at a rapid pace and which also has a lot of scope for students in India, it is fintech. Short for financial technology, it has revolutionized the way we manage our finances in a short span. Whether it is small-scale investments or corporate finance, fintech has managed to provide better solutions like mobile banking, wallets, UPI, and other IT-driven financial services.

This is the same reason why a fintech career is one of the most sought-after paths for aspiring students today. But with that aspiration comes the question of specialization. What skills to master? And what fintech courses to take?

Fintech online certification course in IndiaHere’s help in the form of a starter guide about the 5 most in-demand skills in the industry.

1.      Strong Understanding of Programming Languages

Knowing the basics of coding and having a working knowledge of at least one major programming language is essential to even enter the world of fintech.

And when you do enter, just knowing a language is not enough. A fintech career requires you to innovate in that language and come up with solutions to modern problems. This is only possible if you know the language (or languages) inside out.

Fintech certification courseSome of the most common languages used in fintech are JavaScript, Python, and SQL. You can learn more about them through easily available fintech courses online.

2.      Mathematical and Analytical Skills

You have to be very sharp with numbers.

Some people have a natural way with numbers and that is expected in any student who wants to make it big in the fintech industry. In addition to accountancy and bookkeeping skills, you also need to be strong with charts and graphs and mathematical analysis. Tech tools involved in fintech are extremely useful and knowing how to use them even more critical.

3.      Blockchain Skills

An intermediate-level expert in blockchain has a better chance of nailing a fintech job interview than a financial expert. Why?

Because fintech companies are looking for talent who have a bend with technology. Since blockchain is considered the next big thing in online security and privacy, experts in the subject are in demand.

This makes blockchain a hot skill and something that you should study on the side as you prepare for your fintech career.

4.      Cybersecurity Skills

Another in-demand skill for your fintech career is related to cybersecurity. This is obvious because security is one of the most crucial aspects of fintech. A company creates a mobile wallet app, and one of the most important things it needs to ensure is the safety of its users’ private information.

With the constant threat from hackers looming, companies need to make sure that their products are secured with top-notch technology. This is where your cybersecurity skills come into play.

Knowing existing security standards such as the FIDO alliance, two-step verification, strong authentication, and other related concepts then becomes paramount.

5.      Machine Learning and Deep Learning

Last on the list is machine learning, which is one of the most in-demand tech skills in general. The world is still trying to make communication between computers and humans free-flowing, and having one more expert getting involved in it is a welcome move.

If you are a finance student, it would be good to expose yourself to such tech concepts as you try to build a fintech career in India.

The recent change in the high school education framework of India further makes fintech an appealing path. This is because students can now take two more years to decide on their interests and start focusing on specific employable skills from early on. Start now and enroll in a fintech course today.