Have you ever used online banking or QR pay? Shopped on online sites like Shopee or Lazada? Heard about the explosive growth of cryptocurrencies like Bitcoin and Ethereum?
The world as we know it today is shaped by fintech. But what exactly is fintech? And how does it differ from traditional finance?
This guide will provide you insight into fintech including what it is, what you will learn, the best fintech programmes in Malaysia and job prospects in the field.
So if you’re thinking about studying fintech (and really, why shouldn’t you?), keep reading.
#1. What is FinTech?
Short for financial technology, fintech is about the integration of technology into the finance sector (e.g. banking, investment, lending, insurance). The term covers many different areas, but often, it refers to any software, application or algorithm that digitalises, automates or streamlines traditional financial services. Fintech may sound a bit technical to you but it isn’t just for those working in finance. Online banking, e-wallets, roboadvisors and cryptocurrencies are just some of the many examples of how integral it is to your life now. If you have a smartphone, it’s highly likely that you’ve used fintech before.
By pursuing an education in fintech, you will learn about financial products, theories and concepts and how technology is transforming the delivery of financial services. You’ll also be exposed to new innovations in the banking and finance sector such as blockchain technologies, data mining and predictive modelling.
#2. Entry Requirements for FinTech
a) Subjects required to study fintech
To pursue a tertiary education in fintech, you must have studied the following subject for SPM or equivalent:
b) Requirements for Diploma in FinTech
To study a Diploma in FinTech, you must meet the following entry requirements:
- SPM (or equivalent): Minimum 3Cs including a credit in Mathematics and a pass in English
c) Requirements for Degree in FinTech
To pursue a Degree in FinTech, you need to complete a pre-university programme and meet the entry requirements.
- A Levels: Minimum 2Ds
- STPM: Minimum 2C+s
- Australian Matriculation: Minimum ATAR 60
- Foundation in Business: Minimum CGPA of 2.5
- Diploma: Minimum CGPA of 2.5
In addition to the above, you are also required to have a credit in Mathematics and a pass in English at SPM or equivalent.
#3. Studying a FinTech Course
a) What subjects will you study in fintech?
Fintech is a relatively new study field in the Malaysian education system. As such, you will often find it offered as a specialisation alongside a finance or business programme.
As part of your fintech studies, you will study finance and business-related modules that will give you a solid understanding of financial concepts, markets and systems. You’ll also learn about the various new technological innovations in finance. On top of that, you will also acquire technical skills such as quantitative finance skills and computer programming skills.
Here are some of the subjects you may encounter during your studies:
- Financial accounting
- Macroeconomics and microeconomics
- Financial derivatives
- Corporate finance
- Financial modelling
- Programming for fintech
- Data analytics, mining and machine learning
- Blockchain technologies and digital currencies
As part of your undergraduate degree, you will also need to undergo an internship or industrial attachment to gain work experience in the industry.
b) How long is a fintech course?
A Diploma in FinTech will take approximately 2 years to complete.
As for a Degree in FinTech, the duration of your studies will be about 3 years.
c) How much does it cost to study fintech in Malaysia?
A Diploma in FinTech costs around
A Degree in FinTech, on the other hand, is approximately RM40,500 to RM88,300.
#4. Your Education Pathway for FinTech
First, upon completing your SPM or equivalent qualification, you can start your fintech journey by enrolling into a pre-university (e.g. A Levels, STPM) or foundation programme (Foundation in Business, Foundation in Arts or even Foundation in Science).
With a pre-university or foundation qualification, you will be eligible to pursue a Degree in FinTech.
Alternatively, you can choose to take up a Diploma in FinTech instead after SPM. A diploma qualification will give you the option of either entering the workforce upon graduating or continuing with a Degree in FinTech, entering the second year.
#5. Should You Study FinTech?
a) Is fintech right for you?
If you’re wondering whether you should study fintech, here are some questions to think about:
- Do you consider yourself to be an analytical person?
- Are you good with numbers and data?
- Do you have a keen interest in the financial world?
- Do you consider yourself to be technologically savvy?
- Are you comfortable with picking up programming?
- How well can you adapt to constant technological changes?
If you answered yes to most of these questions, fintech may be right for you!
b) Skills required to work in the fintech field
Here are some key skills a good fintech professional should have:
- An in-depth and up-to-date knowledge on trends and development in the finance world
- A meticulous eye for detail
- An analytical and critical mind
- Knowledge on how to parse through information and form an analysis
- A working knowledge in technology
- A passion for solving complex problems
- Ability to work under pressure
- Good communication skills
#6. Career Options in FinTech
With the rise of technology and data analytics in the finance industry, there is a growing demand for professionals with cross-discipline knowledge and skills in finance and technology.
With a qualification in fintech, you can seek employment opportunities in various fintech companies. This includes digital banks and e-wallet companies, crowdfunding platforms, roboadvisors and cryptocurrency firms.
Here are some careers you can pursue with background in fintech:
- Financial Analyst
- Payment System Specialist
- Data Analyst
- Product Manager
- Quantitative Analyst
- Strategy Analyst
- App Developer
- Blockchain Developer
- Cybersecurity Analyst
- FinTech Quantitative Developer
- FinTech Systems Analyst
- FinTech Specialist
#7. Best Universities for FinTech in Malaysia
If you’re interested in fintech, here are some of the best colleges and universities for fintech in Malaysia.
Diploma in Financial Technology
Campus: Brickfields, Kuala Lumpur
Intakes: May & Aug
Estimated Fees: TBC
Internationally recognised programme with the opportunity to pursue a bachelor’s degree qualification at partner universities
12-week industrial training in the final semester provides real-life working experience and seamless transition to employment
Future-oriented curriculum with exposure to Introduction to Digital Marketing, Introduction to FinTech, Introduction to Blockchain and FinTech Governance
Opportunity to explore and obtain relevant business and marketing industry experience from Industrial Collaboration Programme (ICP)
View other colleges
Bachelor in Banking and Finance (Hons) with a specialism in Financial Technology
Campus: Bukit Jalil, Kuala Lumpur
Intakes: May, Jun & Sep
Estimated Fees: RM79,300
Dual award degree — one from De Montfort University (UK) and one from APU
One of the first universities in Malaysia to offer an industry-driven FinTech curriculum
Accredited by Asian Institute of Chartered Bankers (AICB) and empowered by FinTech Association of Malaysia (FAOM)
Bachelor in Accounting (Fintech) (Honours)
Campus: Subang Jaya, Selangor
Intakes: Jan, Mar & Aug
Estimated Fees: RM99,978
The 1st Accounting (Fintech) Degree in Malaysia
Option to take a 2+1 programme where you’ll receive Dual Award from University of Canterbury and Taylor’s University
Taylor’s Trading Room allows you to immerse yourself in an actual trading environment
Grow with the support of Taylor’sphere, a well-balanced learning ecosystem and community that nurtures your intellect, craft and practical wisdom
Universiti Tun Abdul Razak (UNIRAZAK)
Bachelor of Business Administration (Honours) Majoring in Financial Technology
Campus: Jalan Tun Razak, Kuala Lumpur
Intakes: Mar, Jul & Nov
Estimated Fees: RM40,500
Multi-disciplinary course that combines business, finance, technology management and innovation management
Highly qualified academic and professional staff with experience in various areas of entrepreneurship, business and management-related fields
Awarded SETARA 5-Stars by the Ministry of Higher Education
#8. More Resources About FinTech
Want to learn more about studying FinTech and being a finance professional? Here are some useful articles that you may like: