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Everything A Finance Student Must Know About fintech Industry

This article is for students who are pursuing a PGDM in finance, especially those who are confused about their career once they have completed the course. As a business school, we have noticed that not all students have a clear goal when they select a course. Students either research while pursuing the course or ask faculty members for suggestions. 

Well, in this blog, we will be talking about the rise of ‘fintech’ and its future in the finance sector. We will talk about different sectors that have seen a massive boost thanks to the rise of technology in the finance world. 

Let’s get started.  

Table of Contents 

  1. Different Sectors Impacted by Fintech Solutions
    1.1. Banking
    1.2. Insurance
    1.3. Real estate
  2. Why Bet on a Job in the Fintech Industry?
  3.  PGDM in finance at TGBS
  4.  Conclusion

Different Sectors Impacted by Fintech Solutions 

Fintech is short for financial technology, which includes computer software and other tools used to support or improve banking and financial services. Rajat Agarwal, CCO at Cleo, said ‘The future of fintech to me is a world where financial services are more affordable and accessible to the majority of people. The traditional financial system is slow, complex to understand and designed for the 1%. Fintech companies have the potential to simplify it and to reduce costs, increase speed and expand accessibility by leveraging technologies such as AI to drive more financial inclusion.‘ This industry is rapidly evolving and has attracted attention from top VCs. You can also check at this blog to know what industry experts think about the future of the fintech industry but before that let’s look at some of the sectors that have been greatly impacted by financial technology.  

1.Banking

The emergence of fintech companies has seen a massive shift in the banking sector. The impact is so massive that traditional banking methods are finding it difficult to compete in the current market. 

Services provided by fintech companies in the banking sector
  • Payments 
  • Wealth Management 
  • Data Analytics 
  • Investment Banking 
Advantages  
  1. Increased efficiency: Technologies like AI and blockchains have helped banks by reducing costs, improving output, and generating a better customer experience. 
  2. More security: Fintech companies spend a lot of resources to ensure that their solutions are safe. They provide features like encryption and biometric authentication to ensure the safety of costumes. 
  3. Faster payments: Fintech technologies give banks the ability to handle transactions more quickly, allowing clients to send money securely and swiftly. 

2.Insurance 

Fintech solutions have also played an important role in transforming the insurance sector by improving efficiency, risk management, and customer satisfaction. These technologies are also commonly referred to as InsurTechs 

Services
  • Cyber Insurance 
  • Digital Insurance Platform 
  • Peer-to-peer Insurance 
  • InsurTech Bots 
Advantages
  1. Technological advancements, including AI and algorithms, will help with risk selection and pricing. This will help customers select the right product from a wide range of options. 
  2. It’s easier to win over the younger generation (millennials and Gen Zs), as they are more equipped with smartphones and PCs, and fintech solutions can help attract younger customers. 
  3. The major advantage lies in fintech solutions’ ability to eliminate any kind of challenge or difficulty that customers might face. 

3.Real Estate

The introduction of fintech in the real estate sector has transformed how we buy, sell, invest, and manage real estate. Let’s look at the services they provide and some of the advantages of fintech solutions in the real estate sector. 

Services
  • Property Management Software 
  • Crowdfunding for Real Estate 
  • Online Property Listing 
  • Automated Real Estate Investment 
Advantages
  1. Improved accessibility: The incorporation of fintech solutions has ensured participation and investment from both investors and common people. Crowdfunding is one such example where common people can now invest, which was not possible a few years ago.
  2. Investment portfolio diversification: Investors can reduce the risk by investing in different real estate properties. 
  3. Cost effectiveness: Fintech solutions often come at a lower cost. For instance, virtual real estate markets reduce administrative expenses by eliminating the requirement for a physical office. 

Why Bet on a Job in the Fintech Industry? 

Career Growth Opportunities  

Fintech is a growing and evolving sector, meaning there are many options for career progression. Fintech professionals frequently find themselves at the vanguard of emerging trends and technology. 

Impactful Work  

Fintech solutions are always introducing tools and software that can solve real-world problems. A career here can help you make a real difference in people’s financial. PGDM programmes in finance are a great way to set your foot in the financial aspect of the fintech world. You can check out our official website if you are interested in finance. 

Global Opportunities  

Many fintech businesses operate internationally, as the sector is a worldwide one. Professionals can take advantage of these opportunities to comprehend international marketplaces, collaborate with diverse teams, and possibly even look into employment alternatives abroad. 

Competitive Salary  

Due to the high demand for qualified workers in the fintech industry, pay and benefits are frequently competitive. Top talent is drawn to the industry as it grows, and businesses work hard to provide competitive benefits packages. 

Job Security  

The fintech industry will probably continue to play a significant role in the global economy because it is essential to the future of finance. For those who operate in the sector, this may help ensure job security. 

Job Opportunities in the Fintech Sector 
  1. Business Development Manager 
  2. Wealth Manager 
  3. Product Manager 
  4. Financial Analyst 
  5. Compliance and Risk Analyst 

If you are interested in the world of fintech, PGDM Courses in finance can help. PGDM usually focuses on the latest trends and can teach you a great deal about the real finance world. 

PGDM in Finance at TGBS 

Thakur Global Business School, or TGBS, is one of the best B-schools in Mumbai. What makes them unique is their annually upgraded curriculum. A PGDM in finance from our institute will bring you one step closer to a career in the fintech industry. As we mentioned, we update our curriculum annually, meaning you will be taught about the recent software and tools that are being used in top finance organisations. 

With an updated curriculum and knowledgeable faculty members, we organise many guest lectures and workshops that act as a cherry on top. We have conducted many guest lectures and workshops related to the fintech industries from top financial organisations. You can check out this blog, which beautifully explains the importance of workshops and guest lectures. 

If you are someone interested in a Post Graduate Diploma in Finance, you can visit our website. Here, you will also get information about our faculty members, admissions process, and eligibility criteria.  

Conclusion

Fintech has become a powerful force that is fundamentally changing the financial landscape. Financial services and technology have come together to provide new and creative ways to improve user experience, efficiency, and accessibility in a number of different industries. Fintech, which includes peer-to-peer lending, blockchain technology, digital banking, and robo-advisors, is transforming the financial industry and creating new opportunities for both individuals and enterprises. We hope that not just graduates who want to pursue a PGDM, but even students who are already pursuing a PGDM in finance and are confused about the future, have learned something about the fintech industry. Visit our website now. 

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Thakur Global Business School (TGBS), managed by Zagdu Singh Charitable Trust (ZCT) offers Post Graduate Diploma in Management (PGDM). PGDM is TGBS’s 2-year flagship program approved by AICTE, DTE & Govt. of Maharashtra.

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