Future Scope of Fintech in India for 2022 | Made Academy

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Future Scope of Fintech in India [2022]

December 2, 2021

Introduction

With the explosion in technology and its disruptive nature, the financial sector cannot remain the same. What has been the norm will eventually change. Over decades, technology has given rise to new trends and changes in almost every sector. Financial technology has been one of the major areas that have been on the rise lately.

It’s been a while that FinTech is constantly exploding on a global scale. Where technology has been a key component in the growth of the global economy, the growth of the fintech industry has been the result of several important changes in traditional financial systems. 

Today, Fintech is the new buzzword in the technology industry and it is one of the most important industries to watch. The industry is emerging as a global one and has the potential to change the financial services sector dramatically.

There are so many things to take into consideration and so many different aspects that need to be kept in mind. In a bid to make things easier for everyone involved, the best thing that you can do is to learn about it.

In this blog, we will explore what is Fintech, its different applications, some of the major areas of Fintech that are attracting a lot of attention, prominent FinTech companies in this domain and the benefits of Fintech. 

Recently, you must have observed, banking being an old-world industry is already feeling the pressure from newer and more innovative technologies. This makes it more important than ever to make sure that your bank is compatible with the new technologies. 

Also, in this blog, we will give a snapshot of one of the most exciting fields in business today and what the future may hold for Fintech and how it can transform the world of banking.

What Does Fintech Mean?

FinTech is a blanket term used to describe the many technological innovations that have a direct impact on the finance sector today. It is a global movement that aims to improve the financial services sector using technology. 

A fintech company integrates technology into its services to increase its efficiency and effectiveness. Generally, “financial technology” refers to technological innovations that improve the way people transact business, including electronic money and dual-entry accounting. However, financial technology has grown increasingly rapid since the internet revolution. 

Now, fintech encompasses an array of financial activities such as money transfers, checking your bank account via your smartphone, obtaining credit without visiting a bank branch, raising capital for a business start-up, and managing investments, all of which take place without human involvement.

What is Fintech Course All About?

Financial Technology is a revived and impending field. Therefore, more and more finance aspirants are heading towards pursuing a Fintech course. The fintech course will prepare an individual to gain an in-depth understanding and use of technological innovation in the finance industry. Fintech aims to make financial services faster, easier, and more secure. Hence, the course is designed to foster well-versed professionals to make financial services simpler, secure, and faster.

Nowadays, its implications are not limited to the financial sector alone. They also play an increasingly significant role in education, retail banking, fundraising and non-profit, and investment management. 

Moreover, any field has its terminologies, jargon and frameworks. Taking fintech courses could help you acquire inevitable skills and facilitate a variety of career opportunities. 

You can specialize in Fintech by taking courses at the postgraduate level. An MBA in Fintech may be the best course for anyone aspiring to a career in this field.

Future Scope of Fintech Course in India

The financial industry has been raving about fintech since the early 2000s, as the technology provides consumers with alternatives to conventional options. This trend is showing a positive outcome. Today, established companies are recognizing the benefits and needs of these new technologies.

In the last few years, technology firms have received an inundation of funding. According to the 2018 State of Venture Capital report, investments into start-ups through venture capital funds reached $254 billion worldwide in 2018, up 46% from 2017.

Fintech was worth $127.66 billion in 2018, and growth is predicted to reach $309.98 billion by 2022 at a rate of 25%. Further by 2024, it is expected to open 2.5 million potential career opportunities. 

Furthermore, nowadays, when it comes to managing funds, consumers demand a seamless digital experience. Due to this changing approach to processes, the total digital payment value increased from $4.1 trillion in 2019 to $5.2 trillion in 2020. 

To stay in business, financial companies must encourage digital services. This is why strategic partnerships between established firms and start-up fintech firms are becoming more prevalent. By doing so, it can provide technological support to larger companies and reach a huge pool of clients.

Why You Should Learn Fintech?

The fintech sector refers to innovative digital solutions that strive to optimize financial and banking operations. Today, modern technologies like blockchain and artificial intelligence are reshaping the financial industry. Therefore, you can witness digital transformation impacting fields such as electronic payments, banking, insurance, personal loans, and wealth management.

In this age of digitalization, the importance of finance, its application and its essence is rising in importance. It is a field that influences every other field in nature and has multiple applications in the day to day lives of people. 

So, if you are in the financial field, and especially in a start-up, you are going to come across Fintech now and then. Pursuing an MBA in Fintech course will not only make you an expert in areas of Fintech but will also help you to outsmart the competition. 

Here are a few reasons why you should learn Fintech:

  • The immense popularity of the course.
  • Solid certification to grip your position in the industry.
  • Help transform every aspect of traditional finance.
  • Keep your skills up to date in this fast-paced cutting-edge technological landscape.
  • Get acquainted with digital assets and blockchain technology.
  • Become a pro in the Fintech industry.
  • Understanding financial technology better will provide you with an edge over others.
  • Boost your creative thinking and strategies decisions making.
  • Can invite great change to your career due to plenty of job opportunities.
  • A greater range of career opportunities in India as well as overseas.

So, if you are trying to break into the FinTech industry, you need to know which essential skills you should learn. To help you get started, we have suggested the name of an institute offering an MBA in Fintech course (both Offline and Online mode). 

Made Academy for Best Fintech Courses in India

Whether you are a banking executive, venture capital professional, IT security consultant, an entrepreneur or a fresh finance graduate, MADE Academy has designed MBA in Fintech program exclusively for you!

Why Made Academy for Best Fintech Courses in India?

The Fintech program is uniquely designed by leading experts in the industry. The MBA in Fintech program gives a holistic perspective of the global Fintech markets to the learners. As well, the Best Fintech course at MADE Academy equips learners with the ability to identify opportunities in the financial services sectors and implement effective solutions during disrupted circumstances.

Unique 3’C of MADE Academy:

COLLOQUIUM-

It involves talks with industry professionals and entrepreneurs to encourage entrepreneurship in Fintech.

CEO Shadowing-

It includes mentoring and assisting students with interview preparations to build fruitful careers in Fintech.

CAPSTONE-

It encompasses live crowdfunding activities for economic and societal betterment.

Hope you have consumed a good amount of information that would have fuelled your passion to become a dictator in the Fintech sector.

 Thanks for reading and don’t forget to share your query for admissions!