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5 Reasons to Study Fintech Management

Wednesday, August 3rd, 2022

Close up of Man with computer data reflected in glasses, pondering why study fintech at Ulster

Despite over a decade of exponential growth, the Fintech revolution is only just beginning. The global Fintech industry is worth around £150 billion and climbing, a figure that has doubled since 2017. Today, developments in Fintech continue to shake up traditional models, revolutionising and speeding up processes across industries and consumer markets. 

As the scope of financial technology grows, so too does employer demand for skilled professionals with sound knowledge of the Fintech industry. With an understanding of how to drive Fintech innovation, you’ll open yourself up to a wealth of Fintech career opportunities. There has never been a better time to upskill and become a Fintech professional.

What is Fintech?

Broadly speaking, Fintech refers to any emerging technology that helps innovate financial services. The impact is as significant for customers as it is for organisations.

Why study Fintech?

Ulster University Business School’s MSc in FinTech Management is designed to help meet this industry demand and equip Fintech professionals with the latest management skills needed to shape the future of an emerging sector.  

Here are our top 5 reasons to study Fintech at Masters level:

1. The Fintech boom is set to continue

According to a Deloitte report, the number of FinTech venture companies in the UK has risen threefold between 2013 (1,080) and 2020 (3,485) and continues to see expansion. In Northern Ireland alone, the FinTech industry contributes £392 million to the economy with the potential to generate ‘thousands more jobs and over £25 million in Foreign Direct Investment over the next three years’ (Finextra). 

Owing to its ongoing evolution and lucrative nature, the sector provides both a challenging and exciting opportunity for professionals willing to take the  leap into unknown territory. 

2. Fintech professionals are in high demand

Perhaps the biggest challenge the sector currently faces is the lack of experienced managers with financial and technical understanding. The UK Treasury-commissioned Kalifa Review, an independent report on the UK Fintech market published in 2021, highlights this demand: 

“Fintech not only requires technology and data specialists but, in order to support successful and sustainable growth, scaling Fintechs are also looking for experienced managers and financial services specific knowledge”.   

According to the report, 43% of job adverts from UK Fintech scaleups looked for proficiency in data, 44% prioritised technology skills and 35% focused on business acumen. The report suggested higher education institutes should be doing more to equip students with these skills and future-proof their careers. 

Ulster University’s Masters in FinTech Management is designed to do exactly that, providing solid foundations for skills in data analytics, financial technology and business, setting graduates up for progression in a transforming industry. 

3. Fintech careers and graduate job opportunities are everywhere

There’s no limit to the job opportunities for recent Fintech graduates, particularly those demonstrating business skills alongside their financial and technical expertise. 

Work in Fintech spans traditional financial organisations as well as digital-first start-ups, sometimes known as ‘Fintechs’. Fintech graduates may also go on to work for big tech firms, launch their own businesses or switch industries by leveraging their in-demand skill sets. 

Some of the top careers in Fintech include: 

  • Data scientist/statistician
  • Quantitative analyst 
  • Blockchain developer 
  • Cybersecurity specialist 
  • Risk and compliance officer 
  • App developer 
  • Machine learning engineer/analyst 
  • AI developer 

Specialised candidates, such as those with experience in machine learning or AI development, will be valued across a wide range of roles. 

Skilled managers with expertise in Fintech will inevitably have a choice of the most lucrative positions, such as those for leaders, strategists and consultants. The highest paying roles are usually found at director, vice president or equivalent level. 

Business analysis big data screen and economic growth with financial graph. Concept of metaverse virtual dashboard technology - study financial management

4. Opportunities to shake up the traditional finance sector

Disrupting an established sector is never easy, but someone’s got to do it. Those that have the courage to overhaul the traditional processes of their sector will reap the rewards, whereas those financial organisations that fail to adopt Fintech will fall behind. 

For example, it’s clear that traditional banks are struggling to keep up with their digital competitors when it comes to customer satisfaction. The 100% online UK bank Monzo won the title of ‘Best British Bank’ in the British Bank Awards 2022, defeating more established banks such as Barclays, Halifax and Nationwide.  

Despite being in competition, digital providers and banks often work in partnership to diversify their services and increase profits. To illustrate this, a 2019 PwC report showed that 48% of financial services organisations have incorporated Fintech into their strategic operating model, while 37% have utilised emerging technologies in their products and services.  

With this percentage set to increase, having experienced Fintech managers to implement future goals is more essential than ever. 

5. Level up your career while working

You don’t need to quit your current job in order to upskill into a Fintech management role. One of the positive outcomes of the global pandemic is that distance learning in the UK has made huge strides in both popularity and usability, offering savvy students and working professionals the flexibility to learn as and when it suits them. 

Online learning at Ulster

On the MSc FinTech Management you can take advantage of a 100% online programme while also benefitting from Ulster University Business School’s industry connections and collaborative learning methods. 

As an online student, you’ll have a great deal of autonomy in your projects but can also engage in discussions with a peer group of like-minded professionals from around the world. Materials can be accessed 24/7 from anywhere you like, and study hours are flexible.  

Why study Fintech at Ulster University?

The FinTech Management MSc is directed Daniel Broby and Claire McCann and provides specialist management training for the evolving sector of financial technology. You’ll gain the skills and confidence to take on high-level leadership careers in Fintech, around the world. 

Ulster Online has been an esteemed provider of distance learning programmes for over 20 years and is led by Ulster University’s most distinguished academics. All our online Masters programmes are designed to meet the latest industry demands and equip you with the relevant, practical skills to succeed in your career.  

Find out more about the Fintech career paths that could be an option for you after graduation. 

A curriculum designed in collaboration with industry

Ulster University Business School (UUBS) stands in good stead within the business and finance sectors across Northern Ireland and the rest of the UK.

A close connection to industry means that Ulster’s Masters in Fintech Management curriculum stays relevant, meeting industry demands and helping to bridge the theory-practice gap, through practical case studies that focus on real-world challenges.  

Northern Ireland: A global Fintech hub

Northern Ireland has been identified as one of the top 10 Fintech clusters in the UK by the Kalifa Review, due in no small part to the region’s highly competitive operating costs and pro-business environment alongside research excellence in collaboration with global names such as Citi, CME Group and Vela. 

While the MSc FinTech Management takes place 100% online, distance learning students directly benefit from the region’s position as a global Fintech hub, working closely with local Fintech firms in close connection with industry-expert programme leaders. 

If you’d like to learn more about Ulster University’s offerings, speak to an Enrolment Advisor today. 

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