Now more than ever, technology has enabled us to have access to a multitude of services at our fingertips. Rather than going to a restaurant to order your food, you can choose which dish you want on your phone and have it delivered to you. You also can perform banking transactions at all hours of the day without having to go to the bank.
FinTech, like a few other technology-driven fields, are one of the fastest growing job sectors in recent years. This is due to the demand for round-the-clock access to financial services.
Accounting too has seen rapid changes in recent years. Where bookkeeping knowledge has been the most sought-after skill of an accountant, being technology-savvy and customer-oriented are becoming just as important nowadays.
This is made possible through the wide acceptance of cloud accounting and AI, among many technology advances.
APU First University in Malaysia to Offer FinTech-related Programmes
In 2020, Market Data Forecast said that the market value of the global FinTech market will reach US$305 billion by 2025. The forecast and figures signify the bullish future of the FinTech industry.
For Asia Pacific University of Technology & Innovation (APU), the inclusion of FinTech strengthened its status as a Premier Digital Tech University.
Though all Accounting & Finance and Banking & Finance programmes carried modules in FinTech, in 2018 APU was the first university in Malaysia to offer an undergraduate programme related to FinTech, the Bachelor in Banking and Finance with a specialism in Financial Technology (FinTech).
As the pioneer educator in the field, APU worked with Fintech Association of Malaysia (FAOM) to curate the curriculum so that it aligned with industry requirements. Over the years both APU and FAOM have continously organised seminars and workshops to keep students up to date with the latest trends within FinTech.
Faculty Members, Industry Partners as Backbone of Programme
APU’s faculty members within the School of Accounting and Finance helped grow its presence in educating and training the next generation of FinTech professionals. The Head of School of Accounting and Finance, Prof Dr Nafis Alam, was ranked among the top 100 FinTech influencer for 2019 by Refinitiv and was ranked top 5 as Regtech Influencer by Planet Compliance. He is a research affiliate of Cambridge Centre of Alternative Finance (CCAF) at Judge Business School, University of Cambridge, UK. On top of that, Prof Alam also mentors FinTech platforms in Malaysia.
Other faculty members too have been invited to share their knowledge and views on financial planning and FinTech on AiFM, BFM, Minnal FM, and Astro.
Besides conventional finance modules that are still important today, several FinTech modules such as Python programming, Artificial Intelligence, Internet of Things, Cloud Computing, Blockchain, and data mining also are taught to equip the students with fundamental skills and knowledge to deliver financial services using technology.
Students can expect almost half of their final grade to come from assignments, presentations, and practical tests while the rest of the final grade will come from a final exam.
APU works with industry partners MyFinB, PayNet, Pentaip, and others to provide industry exposure to the students for their skills training and networking opportunities. Some students have secured internship placements with FinTech startups such as MyFinB, Pentaip, Ted Optimus, and Funding Societies, to name a few.
The FinTech industry is expected to grow significantly in the next 5 years as the global pandemic has caused a shift in the consumers’ expectation and perception of tech products. CCAF, World Bank and World Economic Forum (2020) revealed that FinTech firms in 169 jurisdictions have registered strong growth for the first half of 2020 compared with the same period in 2019. Students with the right FinTech knowledge and skill will be in demand, and APU will continue to produce graduates that can meet the requirements of fast-changing industries.
Want to know more about APU and their FinTech programme? Come ask our counsellors today and learn how you can secure your future!