Finance technology – FinTech – is a refined innovation and technology to deliver enhanced financial services, put simply FinTech is an advanced financial technique from the traditional financial approaches.
FinTech is among the modern trends as banks have embraced being online after undergoing a gradual evolution. With great history, FinTech can be traced back to the late 19th century whereby its foundation was laid. The finance innovators are doing a great job of changing interactions between money and people. The first electronic money transfers were made successful by the use of technologies such as Morse code and telegrams. This was enabled by the USA in 1866 and 1918 by the use of transatlantic telegraph cable and Fedwire. This period was marked as FinTech 1.0. This innovation promoted considerable financial transactions over a fair distance. In 1967, a great achievement was made by Barclays through the invention of the ATM. This facilitated a new money transfer method with fast and safer services. In 1980, online banking was introduced in which by 1990 it was modified to effective digital banking. This was made easier in FinTech phase 3 by the use of smartphones to transact money online. FinTech today has greatly improved its services, as they are so passionate about offering the best products to their customers. PayPal is one of the large companies with such trade activities.
Studying FinTech at PG level
The finance sector has advanced massively and its provisions are very different from what they were before. In today’s world, improved technology has made it easier to avail of FinTech studies. This is to provide solutions to real-world financial issues. Masters in Financial Technology are offered for a better future, to enhance innovation and accommodate financially and markets trending issues. If you want to pursue financial technology studies, there are great choices of universities and law schools that offer quality education in this sector. FinTech education involves a great selection of postgraduate programs to study. They include an MSc in Financial Markets and FinTech at the University of Nottingham, an MSc in Financial Technology at the University of Birmingham, UCL and Imperial College London. Other prestigious UK universities – such as the University of Edinburgh – offer MSc in Finance, Technology and Policy. In Europe, the University of Amsterdam offers an executive masters with developing FinTech specialism. These are among the best schools that specialise in FinTech education postgraduate programs.
Why study FinTech?
FinTech covers a broad scope when it comes to financial operations. It provides a lot of services, including better management of finances, as it has shaped and simplified financial operations. FinTech gives a better understanding of how finances should be carried out and transacted. It’s a fascinating field of study with plenty of opportunities for further exploration, research and development.
Areas covered by FinTech
FinTech covers areas involved with payments, digital wealth management, blockchain network and digital lending. The areas covered are to simplify customers’ financial handles when using FinTech money methods. Studying a masters degree in this field will open up a world of career options, including:
- Cyber security
- Blockchain development
- Investment apps
- Mobile banking
- Artificial science
- Data science