Top Financial Technology (FinTech) Courses in Malaysia and Related Career Opportunities
by StudyMalaysia.com on June 17, 2022 | Top Stories
What these providers of FinTech courses say...
- Asia Pacific University of Technology and Innovation (APU)
- Methodist College Kuala Lumpur
- Multimedia University (MMU)
Asia Pacific University of Technology and Innovation (APU)
Ms Ng Hui Chen
Programme Leader, Banking & Finance
A US-based global remote company connecting software engineer, designer and finance experts, Toptal predicts that the global FinTech market size will grow at a rate of 25% to USD309.98 billion by 2022 (The Edge Markets, 2022). The growing size of the global FinTech market signifies abundant job opportunities for FinTech graduates.
The graduates can choose to specialise in one of the FinTech areas namely payment technology, digital currencies and blockchain, insurance technology, wealth technology, banking technology, regulatory technology, etc. Apart from the tech-focused roles, graduates can also choose to work in the operations, marketing, strategy development, and customer services departments in the FinTech industry. Besides, graduates can also use the FinTech knowledge and skills acquired to transform the traditional financial industry into a more creative and efficient one or build their ventures to create cutting-edge FinTech solutions for society.
Finance is the core of any commerce in the world. When finance is indispensable to society at large, and people are looking for more efficient financial solutions, FinTech will definitely be the future of the financial industry.
Methodist College Kuala Lumpur
Mr Yap Haw Sim
Academic Director, Future Education
The wave of the Fourth Industrial Revolution (IR4.0) has caused the financial industry to swiftly evolve with technology leading to a new era of Financial Technology (FinTech). Talents with cross-discipline knowledge and skills in Finance and Information Technology are in demand for the coming years.
The Diploma in Financial Technology programme in MCKL will fully equip students with comprehensive knowledge and future-oriented skills in FinTech. Some of the key areas include Financial Accounting, Financial Technology, Principles of Investment and Blockchain.
Upon completion of this programme, students will gain exposure to theoretical and practical knowledge understand the disruptions in the FinTech industry across a broad cross-section of products and services, from traditional banking to blockchain. Students can join the workforce, become FinTech entrepreneurs or further their studies at our partner universities in any related field of specialisation.
Multimedia University (MMU)
Dr. Mohd Fairuz bin Abd Rahim
Dean, Faculty of Management
The rapid growth of the Finance Technology (Fintech) industry is creating higher demands for trained talents for the industry. Through programmes such as the Bachelor of Finance (Hons) and Bachelor of Financial Engineering (Hons), Multimedia University (MMU) aspires to groom students with the financial acumen and understanding of strategic technology in business finance.
Students will delve into fundamental financial subjects such as Principles of Finance, Investment, Financial Derivatives, Mathematics for Finance and others. The finance fundamentals are then supplemented with technologically related subjects such as Introduction to Fintech, Digital Transformation Technologies, Analytical Programming, and Financial Modelling to produce tech savvy and competitive graduates.
The Bachelor of Financial Engineering (Hons) students will also be equipped with advanced subjects such as Mathematical Programming, Monte Carlo Simulation Technique and Time Series Analysis and Forecasting. Through hands on practice with finance-related software and databases such as Datastream and Bloomberg for their Research Project, MMU students would have the knowledge and experience that would give them the competitive advantage in the eyes of potential employers.
Introducing Financial Technology (FinTech)
Financial technology (FinTech) is an innovation that is set to complement and eventually to replace traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance. It simplifies financial transactions for consumers or businesses making them more accessible and generally more affordable. It can also apply to companies and other services by utilising AI, big data and blockchain technology to facilitate highly secure transactions.
FinTech startups are competing with traditional financial services offering customer-centric services that combine speed and flexibility. Traditional financial organisations such as banks and insurance companies are also changing with the aim to narrow the technological gap between them and the FinTech startups.
FinTech has changed the way people think about transactions with money in a real-time, digital world. “Cashless”businesses are popping up everywhere, forcing reluctant consumers to adopt the habit of digital transactions. The use of non-cash transactions and settlement began during the 1990s and has been gathering momentum in recent times.
Requiring consumers to pay electronically for goods and services instead of using cash is just the first step. Now Tech giant Amazon is merging online shopping account with the traditional business experience where customers go into a store, grab what they need, leave the store and the items are automatically charged to their Amazon account. These concepts are undoubtedly going to shape the future of shopping. Payment transfers through smartphones or smartwatches are another example of FinTech advancements that consumers have adopted today.
The latest advancement is the rise of digital currencies like Bitcoin and the record-keeping technology known as Blockchain. This has yet to be well-integrated into our daily lives but it is certainly going to change how we pay, save, borrow money and manage financial risk.
FinTech is one of the most exciting and fastest growing areas in global business today. Companies are now adopting newly developed digital and online technologies in the banking and financial services industries. The emergence of a new generation of FinTech has greatly impacted how we do business, transact as consumers and think about the future of finances. The lines that separate business services are slowly but surely blurring out allowing bankers, advisers and technology providers to provide identical services. Thus it is no exaggeration to say that FinTech is literally changing our lives and habits by making it easy to trade, bank in and exchange money without the need for physical human interaction.
With big data, blockchain, AI and so many other technologies already in use, there is no limit to what FinTech has to offer. Thus forward-looking business leaders should adopt FinTech applications if they want to stay relevant and to win tomorrow’s consumers.
The advancement of FinTech is due to several factors:
- Technologies such as IoT (Internet of Things), AI (Artificial Intelligence), blockchain and cloud computing are driving FinTech forward.
- Consumer behaviour of Gen X, Y and Z has shifted as they find existing financial systems not keeping pace with changes in society.
- As barriers to entering the business world are lowered by new technologies, financial institutions have to change to keep up with others.
- Analytics, artificial intelligence and cloud computing give greater access to information allowing companies to see new trends quickly and to adjust accordingly.
- Huge investment in the field of FinTech speeds up its growth as more and more advancements are made.
Developing FinTech trends
- Banking Chatbots - These allow you to have a conversation with your bank without stepping up to a teller.
- Peer-to-Peer Insurance
- Real Estate Crowdfunding - Provides innovative approaches to real estate investing, greater transparency and opportunities for investors and sponsors
- AI Hedge Funds - These make use of Robo-advisors.
- Digital Banks
After all that has been said above, it doesn’t take an analytical mind to realise the importance of FinTech knowledge to harness yourself to be future-ready. FinTech is a lucrative industry offering innumerable career opportunities. With a degree in Fintech you can be offered jobs in the public as well as private sectors.
Why study Fintech?
- A greater range of career opportunities - FinTech talents have an extensive range of career opportunities in
banking and financial organisations, government departments, enterprises and other related financial fields.
Career opportunities in many areas:
- Application Specialist
- Data Analyst
- Compliance Expert
- Risk Management
- Retail Banking
- Online Payment & Transfer
- Loaning & Financing
- Wealth Management
- Strategy Analyst
- Product Developer
- Financial Analyst
- FinTech Quantitative Developer
- Banking Specialist
- Business Development Associate
- Blockchain Developer
- Dramatic change in traditional finances industries - As new technologies emerge, old-fashioned business skills are being weaned off. International financial centres are transforming, adapting themselves using fintech approaches.
- Boosts your creative thinking and strategise decision-making
- FinTech is a booming industry and is set to take the world by storm.
- Being up-to-date with technology.
- Competitive advantage when looking for a job.
- Career transformation - the ability to make better-informed decisions will contribute to the success of your organisation.
What does the FinTech course cover?
Many universities and colleges are offering Fintech courses through online learning modules, making it easier for students to pursue this programme alongside work or other full-time courses.
Most of the courses cover an overview of the future of FinTech from cryptocurrency to payment technology and expose students to innovations such as mobile money, tokenisation and mobile. The courses also teach students new payment technologies like B2B, C2C and C2B payments and expose students to the evolution of crowdfunding and how Robo-advisor and Machine Learning are working to make AI in finance successful. Students get to learn the latest technologies in payments and innovations like blockchain, AI, cryptocurrency, Big Data, Internet of Things and Machine Learning. Students can choose their specialisation according to their areas of interest. Simply select your preferred course and contact the respective college for online admission.
Course of study related to Fintech:
- Diploma in Financial Technology
- B.Sc (Hons) in Information Technology with specialism in FinTech
- Bachelor in Banking and Finance (Hons) with specialisation in Financial Technology
- B.Sc (Hons) in Actuarial Studies with specialism in Financial Technology
- Bachelor in Accounting (FinTech) (Hons)
- Bachelor of Financial Engineering (Hons)
- Bachelor of Financial Technology (Hons)
- Master of Finance with specialism in FinTech
Below are some of the education providers for FinTech courses in Malaysia:
- Asia Pacific University (APU)
- Methodist College Kuala Lumpur (MCKL)
- Multimedia University (MMU)
- Taylor’s University
- UCSI University
The basic entry requirement for the FinTech Degree course (MQA L6) is a pre-university qualification together with a credit in Mathematics at SPM/O Level or equivalent.
Good career opportunities
Whatever you are - a traditional financier, a beginner or somebody with your own startup, having a knowledge of FinTech is a necessity in this modern world. Armed with FinTech knowledge you will have numerous career opportunities at your feet.
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