A cutting-edge understanding of the implications of the rise of FinTech, coupled with strategic preparation through an appropriate professional pathway such as an MBA with a specialisation track in International Finance, will provide a springboard for sustained professional growth.
What is FinTech
FinTech is the term used to describe technology-based tools that support financial products and services. Its importance for organisations has grown exponentially over the last decade - from start-ups disrupting the way businesses operate by facilitating online and mobile payments, to long-established enterprises seeking to retain their relevance and competitive edge by leveraging big data.
By 2023 the global FinTech market had attained a value of approximately USD 305.7 billion. As this fusion of finance and technology continues to drive monumental shifts in the finance sector, today's leaders must embrace its inescapable significance – and the myriad of opportunities it can offer for their career.
How FinTech is disrupting the finance sector
Cloud computing, big data, evolving communication, and soaring client expectations are all reshaping financial products and services. With the challenges posed by increasing competition, agile disruptors, and global economic pressures, tech adoption is an imperative which places FinTech at the centre of the financial service industry.
FinTech's rise, encompassing digital banking, seamless e-commerce, P2P lending, blockchain and more, has delivered efficient and scalable alternatives to traditional finance. It continues to create value for customers and companies through the innovative application of advances in technology.
FinTech has become thoroughly integrated into our daily routines. From checking balances on mobile apps to frictionless transactions, it's woven into our financial lives. Its rapid growth has revolutionised the way we manage our money, replacing outdated practices and creating new possibilities.
For instance, we can expect the continued evolution of new tools to support activities that came to prominence during the pandemic, such as mobile working, entertainment streaming, and telehealth.
Enterprises that excel at leveraging economies of scale and scope and consolidating industries with too many players, are able to maximize opportunities in maturing fields such as cloud computing, software as a service(SaaS), and cybersecurity.
Finally, even those sectors that are showing signs of decline—including traditional retailing, branch banking, manufacturing, and distribution—will require a new generation of FinTech leaders who are adept at restructuring and reinvention.
Discover the Global MBA
What are the job opportunities in FinTech?
MBA alumni with a specialisation in Digital Innovation are in high demand on the global jobs market. For example, in Europe alone, there were an estimated 40,000 FinTech companies, with up to 8,000 job openings in 2021. These figures exclude organisations in other industries, which are increasingly adopting FinTech to gain and retain a competitive edge.
Yet many FinTech companies are struggling to find talent due in some part to the relative infancy of the technology and the recent emergence of the industry itself.
A survey by PWC reveals that 80% of TMT (Technology, Media and Telecom) and 75% of Financial Services organisations were seeking to fill skills gaps in FinTech, and 42% in both sectors were struggling to fill these roles.
Career opportunities span all sectors, ranging from disruptive start-ups to global corporations in virtually every sector. They require a comprehensive skill set that encompasses finance, investments, and cutting-edge technologies including AI, IoT, data analytics, cloud computing, and more.
Among the opportunities available for MBA alumni with FinTech expertise are
Product Manager: A mastery of both financial complexities and technological trends enables them to create innovative products that drive scalability and transform industries.
Business Analyst: FinTech-specialised MBA graduates, with their profound grasp of financial processes and the ability to harness emerging technologies, are well-placed to ensure that business strategies align with market dynamics.
Quantitative Analyst: MBA alumni have developed the skills required to leverage data analytics and modelling techniques in order to evaluate risk, predict market trends, and optimize investment strategies.
Advisory/Innovation Consultant: In the ever-evolving landscape of FinTech, leaders are required to help organisations make informed decisions and guide them to embrace disruption proactively.
Risk, Regulation, Compliance Specialist: As the FinTech sector navigates new regulatory frameworks and potential risks, specialized professionals are essential. FinTech MBA graduates bring a nuanced perspective to risk management by combining financial knowledge with insights into technology-driven vulnerabilities.
Consultants/Strategists: With a specialisation in FinTech, these experts offer a holistic perspective to business challenges, integrating Digital Innovation, insights and awareness of technological trends,to drive growth and establish a sustainable market presence.
MBAs choosing the International Finance track are well-equipped for an array of more senior roles that span the corporate, banking, and non-banking sectors. Their dual proficiency in finance and emerging technologies makes them sought-after catalysts for innovation, disruption, and strategic advancement within the FinTech landscape. As technology continues to reshape the financial industry, these professionals are well-placed to shape its future trajectory.
Transform your career with EDHEC’s Global MBA with a specialisation in International Finance
EDHEC’s Global MBA is a ten-month, full-time programme, delivered at our campus in Nice, in the stunning south of France.
Delivered in English to a cohort that comprises up to 27 nationalities, the programme is an ideal springboard for young professionals with a minimum of 3 years post-graduation work experience, and a strong GMAT, GRE, Tage Mage or Executive Assessment.
Whether you are seeking to take your career in finance to the next level, or to leverage the wider opportunities that FinTech can provide, a Global MBA that can be adapted to your specific career goals and objectives will include core modules, electives and a specialisation track in International Finance, EDHEC’s MBA specialisation tracks are intensive modules in smaller groups dealing with a specific subject or business aspect.
