Oxford preparing for FinTech
As advances in FinTech continue to garner interest and concern from long-standing financial institutions, the academic world is arming professionals with the knowledge they need to thrive. Oxford University has announced a new digital open enrolment programme on financial technology and innovation, Oxford Fintech.
The university's Saïd Business School is developing the programme in partnership with online education experts GetSmarter to address the challenges facing professionals in the financial sector as technology and digital solutions take over from traditional practices.
Oxford Fintech aims to prepare workers in the financial sector for the disruption FinTech will bring by providing the necessary knowledge to embrace and harness these changes. Course subjects include markets and consumer experience, RegTech (regulatory technology), PropTech (property technology), payment technology, artificial intelligence, blockchain and crowdfunding.
In a blog earlier this year, Deloitte's Kent Mackenzie outlined three reasons why FinTech is important at this point in time:
- Regulatory changes necessitate big data and analytics;
- Customer desire for convenient digital services;
- The pace of technological developments.
Professionals in the financial sector will, over the coming years, likely need a basic understanding of FinTech applications in order to keep up with the industry. A more in-depth level of knowledge and engagement will offer a distinct advantage as career prospects are inevitably affected by technological growth.
Research by Robert Half has suggested that employees with digital and financial expertise are better placed for higher salaries and job security, as business leaders look toward managing the risk presented by FinTech disruption.
To remain at the forefront of the business and financial world, future CAs should be prepared to adapt.