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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 your doorstep. You can even perform banking transactions at all hours of the day without having to go to the bank.
This is the story of FinTech and why it catches the public eye.
Why FinTech, you asked? FinTech injects technological applications into financial operations to give a better customer experience. Like a few other technology-driven fields, it is one of the life-changing industries of modern times. New to certain countries, the development in technology has unlocked unlimited possibilities to improve our ways of living. As such, it demands round-the-clock access to financial services due to its rapid growth within the job sectors of recent years.
Another field that has seen rapid changes in recent years is Accounting.
Accounting is the act and expertise of documenting financial transactions
While bookkeeping knowledge has been the most sought-after skill of an accountant, being technology-savvy and customer-oriented are becoming just as important nowadays. And so, efficient financial activity recording is made possible through the wide acceptance of cloud accounting and AI. Among many technological advances, these two digital tools are essential in ensuring the safety of all accounting data.
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Why FinTech at APU? The First University in Malaysia to Offer FinTech Course
In 2020, Market Data Forecast said that the market value of the global FinTech market will reach US$305 billion by 2025. Thus, the forecast and figures signify the bullish future of the FinTech industry. For the Asia Pacific University of Technology & Innovation (APU), the inclusion of FinTech strengthened its status as a Premier Digital Tech University.
At APU, all Accounting & Finance and Banking & Finance programmes carried modules in FinTech. Even so, this tech-savvy institution was the first university in Malaysia to offer a FinTech course that combines both disciplines, namely the Bachelor in Banking and Finance with a specialism in Financial Technology (FinTech).
As the pioneer educator in the field, APU worked with the Fintech Association of Malaysia (FAOM) to curate a curriculum that aligns with industry requirements. Over the years, both APU and FAOM have continuously organised seminars and workshops to keep students up to date with the latest trends within the FinTech world.
FinTech with APU: 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 the School of Accounting and Finance, Prof Dr Nafis Alam, ranks highly in this field of study. Refinitiv has ranked him among the top 100 FinTech influencers for 2019. Meanwhile, Planet Compliance has ranked Professor Dr Nafis top 5 as a Regtech Influencer.
He is a research affiliate of the 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.
Along with other faculty members, they too have been invited to share their knowledge and views on financial planning and FinTech on many platforms, such as
- Minnal FM, and
What APU Students Will Learn in This FinTech course?
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
Are also part of APU’s FinTech course. The school strives to equip students with fundamental skills and knowledge to deliver financial services using technology.
Moreover, APU students can expect almost half of their final grades to come from
- presentations, and
- practical tests
While the rest of the final grade will come from a final exam.
A Future in FinTech with APU
APU works with industry partners, such as MyFinB, PayNet and Pantaip, to provide industry exposure to the students for their skills training and networking opportunities.
Moreover, students who studied FinTech at APU have secured internship placements with renowned startups, including
- Ted Optimus, and
- Funding Societies, to name a few.
How to be part of APU’s FinTech Programme?
Now that you have an overview about the course, it is time to start taking steps towards your dream course. There are several alternatives that will take you to APU’s Bachelor in Banking and Finance (Hons) with a specialism in Financial Technology. Here is a list of alternative requirements for you to note before you join!
To enter Level 1 of the degree, you must have 1 of these certifications:
- 2 C+s ( A GP of 2.33) with a Credit in Mathematics and a Pass in English.
- 2 Passes in any 2 subjects with a Credit in Mathematics and a pass in English.
- 5 Grade Bs, including Mathematics and (A pass in) English.
To enter Level 2 of the, you must have a
- Diploma in Accounting
- Minimum CGPA: 2.5
- Credit in Mathematics (Level: SPM/ O-level/ IGSCE)
What will the Future in FinTech looks like?
The FinTech industry is expected to grow significantly in the next 5 years. With the global pandemic visiting the world, a shift in consumers’ expectations and perception of tech products can take place.
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. As such, students with the right FinTech knowledge and skill will be in demand.
Therefore, APU will continue to produce graduates that can meet the requirements of fast-changing industries.
Want to know more about APU and their FinTech course? Come ask our counsellors today and learn how you can secure your future!