Few industries have been more disrupted by technology over the past few decades than the financial sector. Financial technology (fintech) is simultaneously redefining legacy areas of finance while also creating brand new ones. Experts estimate the fintech market will be worth $305 billion by 2025, signaling an immense opportunity for emerging financial students.
Thanks to fintech, young professionals have significantly more career options than a decade ago. However, the world of finance is also evolving quickly. To stay up-to-date with the latest trends, young professionals should obtain a Master of Business Administration (MBA) concentration in Financial Management — such as the online program from Carleton University — before entering the workforce. Earning such a degree communicates to employers that graduates have a modernized skill set that’s ready to thrive in the ongoing fintech revolution.
What Is Fintech?
Financial technology describes new technology that both improves and automates the delivery of financial services. This applies to both improvements in the back-end systems of established financial institutions as well as the creation of entirely new consumer-facing products. Financial technology is redefining the financial industry in the following ways:
- Empowering consumers: New technology has helped create more consumer-friendly finance applications, like personal finance apps, digital wallets and easily accessible banking services. This has increased consumer expectations for the financial sector.
- Reshaping financial landscapes: Thanks to new technology, it’s now easier for nimble startups to compete with legacy institutions that previously had a stranglehold on certain industries. For young financial professionals, this means that they may enjoy more career flexibility than previous generations.
- Championing financial inclusion: Technology has made financial services more broadly available to previously underserved markets. With more financial products readily available, traditionally underserved markets can now receive financial services.
Financial technology is reshaping the financial services industry in more ways than one, which has far-reaching implications for those pursuing a career in finance.
How Is Fintech Impacting Jobs in the Financial Services Industry?
Perhaps the biggest impact financial technology has on the financial sector is the creation of new industries. These new industries can change quickly, which highlights the need for young professionals to embrace innovation as part of their careers. Some emerging branches of financial technology include:
- Digital payments
- Alternative lending
- Blockchain
- Cryptocurrency
- Distributed ledger technology
- Cybersecurity
- Digital assets and tokenization
- Generative artificial intelligence
- Open banking
- Regulatory technology
Each of these verticals presents a potential career path for young professionals, in addition to facets of finance that have existed for decades. Additionally, since many of these sectors are fairly new, younger professionals can potentially fast-track their careers by specializing in an emerging niche.
To communicate to employers that they’re ready to thrive in an innovative environment, professionals can pursue an advanced business degree. Carleton University’s MBA concentration in Financial Management gives students the base knowledge they need to excel in virtually any existing or emerging branch of modern finance.
The Future of Finance: MBA Concentration in Financial Management
Carleton University’s program helps students understand the core business functions of the modernized world such as accounting, capital budgeting, risk/return analysis and valuation forecasting. These skills remain as relevant as ever for modern businesses. Additionally, learning these skills separates MBA holders from their peers in the job market.
Carleton University’s program also uses a handful of strategies to educate students, including experiential learning, case studies and a curriculum honed by an advisory board of leading practitioners. Learning in these types of environments helps students hone their critical thinking and leadership capabilities. For this reason, obtaining an MBA in financial management communicates to employers that you have relevant experience to help them succeed.
Learn more about Carleton University’s online MBA concentration in Financial Management program.