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How FinTech is Reshaping the Banking Industry?

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FinTech - IIM Nagpur

How FinTech is Reshaping the Banking Industry?

Over the last few years, the entire way of banking has been revamped due to the influx of technology. When organisations plan to revamp ideally, they mean to transform into their truest form. For instance, cashless transactions were not something everyone would be looking forward to around five to seven years ago. But today, that fiction of the past is the reality of the day. 

FinTech has made this possible. The rise of the Fintech sector has also increased the demand for FinTech courses in India. One such popular course is IIM Nagpur’s PG Certificate Programme in Financial Technologies (FinTech). The one-year direct-to-device course has been developed to give students a deep understanding of the technologies involved in FinTech, such as AI, machine learning, cryptocurrencies, and big data. The course will help build a solid foundation for individuals looking to start their professional journey in the FinTech domain.

Let’s have a look at how exactly FinTech is changing the way banking is conducted.

No More Physical

In this day and age, an individual does not need to visit a bank branch physically to get an account opened. They also don’t need to visit a bank to apply for a loan. All of this now possibly very easily through just one click on the mobile banking application.

Another aspect of how the physical has been replaced with digital is evident through the availability of banking facilities such as checking bank balance, applying for a cheque book or a debit/credit card, or connecting with customer care. 

Cross-platform Banking

The integrations of APIs have helped the entire banking sector in a way none of us would have thought it would. For instance, if you look at the current banking scenario, applications have installed APIs to support third-party applications. Some of the other things that have been facilitated because of APIs are loan applications, money transfer requests, and credit score checking, among others.

Improved Customer Experience

Fintech has made it possible for customers to access banking services 24/7. The services can also be accessed via multiple channels like social media, mobile apps, websites, and many more. The customer experience, too, has been elevated with FinTech as customers get solutions to their problems quickly and without any hassles. 

Increased Job Opportunities

The entire acceleration of digitization has also generated so many jobs. These jobs have ranged from software developers to consultants to marketers. Everyone has had the opportunity to have a say in the FinTech boom.

This has led to the rise in FinTech online courses and FinTech certification as young, aspiring candidates have realized the potential and career opportunities that lie ahead in the FinTech domain.

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Increased Job Opportunities

The entire acceleration of digitization has also generated so many jobs. These jobs have ranged from software developers to consultants to marketers. Everyone has had the opportunity to have a say in the FinTech boom.

This has led to the rise in FinTech online courses and FinTech certification as young, aspiring candidates have realized the potential and career opportunities that lie ahead in the FinTech domain.

Conclusion

These are just some of the ways FinTech has been revolutionizing the entire banking sector.. We believe that this is just the beginning of something huge, and there’s more to come in its truest form. 

If you want to be a part of the Fintech industry, you can consider completing a PG Certificate Programme in Financial Technologies (FinTech) from IIM Nagpur. The FinTech certification course helps you get a deeper understanding of FinTech technologies like blockchain, AI, cryptocurrencies, machine learning, and others. You also get to learn about different FinTech sectors like Payment Systems, InsureTech, Neo Banking, Lending Tech, and many others. The one-year course is guaranteed to set you on a prosperous and growth-oriented career path in the banking industry.

FAQs

  • Is FinTech a Good Course? 
      • Yes, looking at the current and future trends, FinTech is definitely a good course. The entire banking sector is changing drastically, and now is the time to become a part of the revolution. 
  • How Can I Join a FinTech Course?
      • There are multiple ways of joining FinTech courses in India. One of the ways is opting for an online FinTech certification course. You can also consider opting for a PG certificate programme in FinTech from IIM Nagpur.
  • What Subjects are Required For FinTech? 
      • There are no specific subjects that are necessary for a FinTech Master’s programme. But if you have good coding skills, combined with knowledge in finance and technology, it would help. 
      • The eligibility of the IIM Nagpur’s PG Certificate Programme in FinTech includes a minimum of fifty percent in graduation from a recognized university and a minimum of three years of experience in IT, IT services or the BFSI industry.
  • How Do I Join a FinTech Company? 

There are several ways of joining a FinTech company. after completing the PG Certificate Programme in FinTech, professionals will enhance their industry know-how and transcend into a manager or leadership profile. Another way of joining a FinTech company is to finish your PG course and then freely apply for a job in a FinTech company.

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