FinTech Certifications and Certificates

The financial services industry has embraced technology more than any other. From mobile banking apps and peer-to-peer payment services like CashApp and Venmo, to investing platforms like automated portfolio managers and trading applications, the majority of people do their banking online. According to Forbes.com, 78 percent of Americans preferred to use online financial services in 2022.

FinTech jobs pay well, offer many opportunities for professional development, and are expected to grow quickly into the next decade. If you want to explore the advantages of a career in FinTech and how to get started, read on. Find out what you need to do to switch to a career in FinTech, what’s the difference between a certificate and a certification, and how a certificate can help you get a job.

What is FinTech?

Financial technology, or FinTech, refers to using computers, or more specifically, the internet, to perform financial transactions. The FinTech revolution began in the early 21st century with the introduction of electronic banking and online stock trading platforms. As new products are introduced, more and more financial transactions have moved online. Some of these advances in financial technology include mobile payments, investment advisory services, blockchain technology and cryptocurrencies, Banking as a Service (BaaS), lending, and credit reporting services.

FinTech Industries

FinTech skills apply to virtually every industry, so you have many options when you choose a career in FinTech. Here are some different FinTech industries and how they use technology.

Accounting

No more paper ledgers and adding machines. FinTech has transformed the field of accounting with data analytics and automation. AI and machine learning are expected to play more prominent roles in accounting in the coming years. Accountants use FinTech to create spreadsheets to track cash flow, expenses, and revenue, and FinTech analytics help find inefficiencies and offer solutions. FinTech tools help Accountants offer more and better services to clients.

Banking/Finance

In the last thirty years, banking has benefited from technological developments more than any other industry. FinTech tools have made banking faster and safer. Online banking and mobile apps let people make online bill payments and money transfers faster and more securely. Loan management software speeds up application assessments and simplifies payments with automation. Payment platforms like PayPal, Venmo, and CashApp have revolutionized buying and selling, from buying a coffee to paying rent.

Cybersecurity

Keeping data and identity secure is a major concern in FinTech development. As new tools have made banking and investing faster and easier, they have come with challenges for developers. FinTech tools need to protect financial information, make sure transactions comply with regulations, and build and maintain trust in the online finance system. While consumers were wary of electronic banking when it was first introduced, FinTech tools have made doing business online much safer and more secure. Improvements in artificial intelligence and machine learning allow tools to analyze enormous amounts of data quickly. The tools recognize patterns and predict possible threats to make transactions safer.

Data Science

FinTech fits seamlessly into the data science industry. Data science uses machine learning to collect, analyze, and interpret large amounts of data from numerous sources to create artificial intelligence systems that produce insights analysts can use to make business decisions. FinTech tools can handle extremely large databases of transactions to look for fraud, analyze customer behavior, assess risk, and improve financial products. Another way that FinTech and data science improves financial services is through personalized marketing. Companies can use data to suggest products and services to consumers based on the data they collect.

Insurance

Technology is changing many traditional industries like insurance. Created to protect against physical and financial loss, today's insurance industry must also consider risks like cyber threats, online business disruption, and credit card fraud. FinTech tools provide advanced analytics to help companies improve services, reduce cost through data sharing, and automate claim processing. Data analytics, AI, and machine learning have made digital platforms and services like pay-as-you-go insurance possible.

Machine Learning

Machine learning relies on data analytics and computer algorithms to create models to predict different outcomes. FinTech tools can use this to analyze transactions, flag possible fraud, or identify behavior that is out of the ordinary to save companies money and ensure security. The ability to analyze large amounts of data helps to develop new products for customer support and algorithmic trading platforms.

Mobile App Development

To stay relevant, online financial applications must be accessible by any device, including phones, tablets, laptops, or desktop computers. FinTech Developers are in demand to create new products that allow customers to access accounts, manage money, and plan for their financial future. Mobile app development jobs are in great demand with new products coming all the time.

Software as a Service (SaaS)

Software as a Service (SaaS) refers to companies that produce software products including FinTech. Some FinTech SaaS categories are banking tech, investment tech, payment apps, regulatory programs, insurance IT, alternative lending, finance and accounting tech, and cryptocurrency. SaaS firms are looking for many Web Developers and FinTech Engineers to create new software tools and applications.

Wealth Management

The wealth management industry has used FinTech to create digital trading platforms, AI robo-advisors, and mobile money management tools. This allows users to manage their own portfolios and budgets without having to hire a financial advisor. Users enter financial data and goals and the robo-advisors use that information and algorithms to make and maintain investments.

FinTech Skills

If you are preparing for a career as a Financial Analyst or Data Scientist in the financial industry, you will need a collection of applicable skills. These include coding, financial knowledge, data analytics, and using data insights. You can gain these skills by going to college or by taking a certificate course. 

Coding

Programming is one of the most important skills for a career in FinTech. You will need to use languages like Python, Java, and SQL to work with financial data, build new software products, and create visualizations to explain what the data says. Coding is a fundamental skill for many career paths, but it is especially important for creating today's digital financial products.

Financial Modeling

FinTech Data Analysts also need to know how to compile financial models. These are summaries of a business's earnings and expenses on a spreadsheet like Excel that are used to predict what will happen with a business. Financial models are spreadsheets made from a company's income and expenses that are then used to make decisions for the future. FinTech has streamlined financial modeling thanks to AI and machine learning.

Data Analytics

Data analytics involves using software to collect, analyze, and visualize data. While data analytics skills are useful in many fields, they are crucial for financial technology careers. Financial Analysts use data from balance sheets, cash flow statements, income statements, financial ratios, and market trends to support predictions of market behavior. Today's data analytics tools allow analysts to isolate groups and study their behavior to make predictions and recommendations for future action.

Data Visualization

Visualization is what data analysis is all about. Data is just a collection of numbers and without these graphic representations it can be difficult to see what the data represent. Financial Analysts use data visualization tools like Tableau and Power BI to help people understand trends, patterns, and outliers in an easy to see form. This helps teams make solid data-supported decisions.

FinTech Tools

FinTech Data Analysts use several programming languages to handle financial data. These are used to develop new tools for analytics, banking software, database management, and cryptocurrency tracking. 

FinTech tools are object-oriented languages, which gives them an advantage in developing FinTech products. Object-oriented languages combine data and attributes into a single bundle to be acted upon. This is especially useful for the types of large data sets involved in FinTech operations. Some of the most common FinTech tools are Python, SQL, Ruby, Java, C++, C#, and Excel.

Python

Currently the most widely used programming language in the world, developers consider Python easy to learn and simple to use. Its many libraries streamline coding, especially for FinTech. Python is used to develop analytics tools that help banks provide credit scoring across different industries, develop software for online payments, and automate operations. Python is especially useful for blockchain development to make cryptocurrency transactions faster and easier.

One of Python's many advantages is that it is an open-source program which means it is free and anyone can use it without having to buy it or subscribe. This has led to a large collection of plug-ins and libraries that anyone can use to speed up the application production process. There is also a vibrant and active community of Python programmers who connect through forums and conferences.

SQL

FinTech involves using large databases and SQL allows analysts to create their own custom databases. SQL also works well with business intelligence tools to create visualizations and insights for analysts to share with customers and stakeholders.

SQL is specifically used for relational databases. These are collections of data that have some aspects in common. They could be a list of customers that includes account numbers and contact information. SQL allows you to find customers in a particular area, or those who have both a checking and savings account, and create a new list. The beauty of SQL is that it can be used across all databases.

Ruby

Ruby and Ruby on Rails are used to build online payment and ecommerce platforms. Ruby allows Web Developers to use modules, libraries, and plug-ins to speed up development and release products faster. One of Ruby's advantages is its portability, which means it can be used on many different operating systems, like Windows, macOS, UNIX, DOS, and others. This makes Ruby perfect for developing apps.

Ruby on Rails is prewritten code for communications and database queries that handles many of the repetitive aspects of coding. Ruby and Python are used for many of the same operations, and which to choose is often a matter of personal preference. Both are popular for developing financial software products.

Java

Java is one of the most widely used languages in FinTech. Java's main advantages for the banking industry are that it is very secure and it is easily scalable. It can create applications to run on any kind of device. It is stable and easy to maintain with a robust community of developers and numerous libraries and plug-ins. Java is dependable and fast, which are major plusses for FinTech development.

Java has a long history in FinTech, and is especially useful for developing chatbots. It also handles large data loads very well, making it perfect for blockchain and cloud computing applications. One of Java's biggest advantages is security and it is often used for encryption projects.

C++

C++ is another programming language used to develop financial products. It is especially useful for large, high-performance products like trading platforms and operating systems because it is efficient and fast. C++ is a versatile, object-oriented language that is preferred by many developers. If you want to move to a career in FinTech, C++ should be in your toolbox.

C#

C# is another programming language used for financial applications. It is easy to learn and is related to C and C++. The advantages of C# for FinTech are increased security, reliability, and scalability, and it can be used across Windows, Linux, and Mac platforms. C# allows you to create almost any kind of application, so it is worth taking the time to learn.

Excel

Microsoft's Excel spreadsheet application is not specifically a FinTech tools, but it is used so much in the financial sector that learning Excel should be one of the first skills to acquire. This is a spreadsheet application, not a programming language, but spreadsheets are so central to finance and investing that knowing Excel is often a prerequisite to FinTech classes.

What Can You Do with FinTech Skills?

FinTech skills can start you on the road to a lucrative and fascinating career. If your are good at math, enjoy using computers, and are interested in finance, a career in FinTech could be for you. Some of the careers in FinTech are Data Scientist or Data Analyst, AI and Machine Learning Specialist, Cyber Security Specialist, and Web Developer. Indeed.com predicts a 25 percent growth rate for FinTech jobs through 2030.

Data Scientist or Data Analyst

Financial Data Scientists and Analysts use various tools to collect, analyze, and interpret data in the financial industry. They make forecasts for the future using algorithms and financial models and present these insights to team members and clients. FinTech Data Scientists stay up-to-date on tools, innovations, and trends in financial markets. Glassdoor.com reports the median annual salary for a FinTech Data Scientist as $131,000. The finance industry, comprised of banking, investing, insurance, real estate, and fraud protection, hires more Data Scientists than any other.

AI and Machine Learning Specialist

FinTech AI and Machine Learning Specialists use artificial intelligence and machine learning solutions to create financial models, predictions, and visualizations to help clients and businesses make financial decisions. They need to stay current with innovations and developments in this fast-changing field. Glassdoor.com reports the median annual salary for a FinTech AI and Machine Learning Scientist as $158,000. The finance industry was one of the first to use AI and machine learning because of the large amounts of data involved and the need for tight security. These jobs are expected to increase in the coming years.

Cyber Security Specialist

Security is a major concern in the finance world, and some people with FinTech skills choose to become Cyber Security Specialists. They use AI, machine learning, and data analysis to safeguard financial data. Glassdoor.com reports the median annual salary for a FinTech Cyber Security Specialist as $113,000. The need for Cyber Security Specialists is growing rapidly, especially for credit and insurance companies. As threats to cyber security increase, the number jof jobs in this field goes up to keep pace.

FinTech Web Developer

FinTech Web Developers use coding languages to create financial websites and mobile applications. FinTech Developers build many different kinds of products to allow businesses and individuals to manage finances and investments. Glassdoor.com reports the median annual salary for a FinTech web Developer as $102,000. The job outlook for FinTech Web Developers is very goos with a projected growth rate of over 20 percent in the next ten years.

How to Get FinTech Training

To start a career in FinTech you will need training in coding and financial services methodology. There are two ways you can get this training: earning a college degree or taking a certificate course. When making your choice, consider your finances, the time you have available to study, how long you are willing to commit to your training, 

College Degree

One way to become a FinTech Data Analyst is to earn a bachelor's degree in business, computer science, finance, data analysis or a similar area. It takes four to five years to get a degree and costs between $50,000 and $200,000, depending on where you go to school. College can connect you with internship opportunities and also offer career exploration services.

College provides a well-rounded educational experience if you can afford it. You will take classes in subjects other than finance and technology, and you will have the opportunity to make friends and create a useful network. On the other hand, a bachelor's degree is very expensive and takes a years-long commitment. If a FinTech career is your goal, college isn't your only option. You can earn a certificate or certification in financial services technology from many reputable programs.

Certificate Course

If college isn't in your future, you can still have a FinTech career. FinTech certificate programs can provide the skills you will need and provide evidence of your abilities to prospective employers and clients. Certification courses are available through colleges–although you don't earn a degree–and technology training programs. 

FinTech bootcamps and certification courses cover training in Python and SQL coding, data visualization and dashboards, automation, and machine learning, plus courses specifically about financial modeling and services. Programs last from six to eight weeks of full-time study and eighteen to twenty-four weeks for part-time classes.

While FinTech training can be challenging, you will be more successful in class if you have some previous experience or training in mathematics, statistics, and computer programming. If you don't have previous experience, you can still learn FinTech skills, but you may have to take some introductory coding or finance classes first.

Certifications vs. Certificates: What’s the Difference?

If your goal is to switch to a career in FinTech, should you sign up for a certificate class or a certification course? What's the difference? Certificate programs are made up of several intensive classes on a few topics, while a certification is a document indicating that you passed a certification exam.

A FinTech certificate class or bootcamp might cover introductory classes in Python and SQL coding, artificial intelligence, machine learning, automation, and data visualization. There may also be a class on financial modeling and coding specific to finance. The course could take several weeks to months to complete, depending on whether you can attend full-time or part-time. When you complete the program, you will receive a certificate you can attach to your online resume or LinkedIn profile. This tells prospective employers that you have been trained in the latest FinTech methods and best practices. 

Certifications are documents indicating that you took a competency test to prove that you know how to use a particular software tool or process. Sometimes the test is given at the end of a training course, and some certifications have an expiration date and have to be renewed. The examinations are administered by a third party organization to demonstrate mastery of the subject. Examples of some of the best-known FinTech related tests include:

• Certified FinTech AnalystThis certification demonstrates that holders have mastered FinTech skills and are prepared for the roles of business and financial analysts. When someone passes the CFTA exam, they also become part of an international network of FinTech professionals, which connects them to career and development opportunities.
• Certified AML FinTech Compliance Associate (CAFCA) This certification qualifies financial professionals to work as Certified Anti-Money Laundering Specialists.
• Certified Public Accountant (CPA)This exam is part of the process of becoming a Certified Public Accountant. Financial professionals who want to work in the FinTech area could find CPA certification useful.
• Certified Business Analysis Professional (CBAP) - If a student’s FinTech training leads to a position as a Business Analyst, Product Manager, or Finance Analyst, the CBAP may be a critical designation.

• Certified Financial Planner (CFP) - Investment Advisors and Analysts, Wealth Managers, and Certified Public Accountants (CPAs) all benefit from this certification. FinTech pros may also be interested in another CFP designation, Certified FinTech Practitioner.

• CompTIA Security+ - According to CompTIA, Security+ is the first certification one should earn to become a cyber professional. Beginner students seeking FinTech roles in cybersecurity can begin their journey with Noble’s Cybersecurity Bootcamp.

How to Choose a FinTech Course

Once you decide to pursue FinTech training, you will need to choose a program. You can opt for in-person classes in your city–find classes here. These courses run like a traditional classroom, with an instructor and students in a computer lab. If you can't find an in-person option near you, you can still sign up for FinTech training online. 

Remote classes come in two formats: live online and on-demand. Live online classes usually run concurrently with an in-person class in another city. There is a live instructor with students in a room, but some participants attend on a laptop, tablet, or desktop through a video conferencing app. You can interact with the instructor and other students, ask questions, and get help if you need it. This type of class gives you the choice of where you want to log on for class. You can take the course from home, work, or any place with a stable internet where you won't be disturbed.

On-demand training classes are prerecorded and you can watch the sessions whenever or wherever you want. You can also repeat all or portions of the class if you need to. You don't have a live instructor with on-demand classes, but some programs provide a tutor you can contact if you need to. One drawback of on-demand classes is that they can quickly become out-of-date in the rapidly changing world of financial technology.

Top Certifications & Certificates for FinTech

When you have decided on your preferred educational environment, you will need to choose a school. Look over the curriculum to see if the topics you want are covered. Check out some alumni reviews to see what past students thought of the program. Also, take a look at repeat policies. Can you retake a class for free after you have completed it? Are recordings of the sessions made available to students for review? Does the course include any kind of job search assistance or portfolio instruction?

For certificate programs, Noble Desktop offers an in-depth FinTech Bootcamp. You can complete this course in four weeks full-time or four months on a part-time basis and prepare for an entry-level position in FinTech or data science. This bootcamp course provides the foundation for an in-demand career path.

Topics include SQL and Python for data science, automation, and machine learning. You'll learn about the different data types and structures and how to query large databases. The course also covers using Python to create visualizations to use in team presentations. You will also learn about the many financial analysis libraries available in Python.

Don't worry if you have never taken a coding course. This is a class for beginners with no previous FinTech experience, although some familiarity with financial concepts is recommended. This is a perfect choice for financial professionals who want to expand into FinTech.

Noble’s Python for Finance Bootcamp is another popular certificate among FinTech students. It focuses on the many free Python libraries created for financial analysis. This is a good course for finance professionals looking for a deep dive into using Python or anyone who wants to move into a career in FinTech.

Learn how to gather and manipulate data, perform regression analysis, fetch economic data and financial APIs for your company, build risk models, and analyze financial statements. Participants can take this course separately or save on tuition by taking it as part of the FinTech Bootcamp.

This course has a prerequisite. You should be familiar with Python and its libraries like Pandas and Matplotlib. If not, Python for Data Science Bootcamp is a good place to start. You should also be familiar with concepts like NPV, financial statements, IRR, and stock fundamentals.

If you are interested in more general data science training, consider the Data Science Certificate program from Noble Desktop. It includes the same modules as the FinTech Bootcamp, so you will be prepared for an entry-level position as a Data Analyst or Data Scientist, which are some of the jobs that rank highest in terms of pay and job satisfaction.

If a FinTech career is your goal, it's a good idea to take a look at Noble’s Python for Finance Bootcamp. This will put you in an even better position for a FinTech career.

The course covers programming fundamentals with Python and SQL, machine learning models for automation, and dashboards and visualizations. This certificate program also includes job search assistance, resume tips, one-on-one mentoring, and portfolio development.

Many colleges and universities offer FinTech certificate courses. These are not for credit classes for financial professionals who want to add technical skills to their financial experience or people who want to switch to FinTech from another field. The University of Miami Herbert Business School has a FinTech Bootcamp including hands-on learning to help students master both financial theory and technical skills.

Harvard Business School's online course in FinTech gives participants an up-to-date view of the rapidly changing FinTech industry. Gain insight into the current financial sector and an understanding of technology and innovations that are transforming banking and investing. 

The Financial Technology Professional Certificate program at the University of Texas at Austin McCombs Business School covers an overview of the FinTech sector. Topics include blockchain for business and finance, AI and machine learning in the financial industry, and the Internet of Things and Application Programming Interfaces in FinTech.

The Wharton School at the University of Pennsylvania offers Foundations and Applications of Financial Technologies Specialization. This is an asynchronous course covering FinTech investment strategies, how payment apps work, financial regulations, robo-advising, crowdfunding, cryptocurrency, peer-to-peer lending, and blockchain.

New York University's Continuing Education School of Professional Studies has a Certificate in FinTech for financial professionals and people seeking to change careers. Students will explore technology, financial markets, and regulations as they relate to data science, artificial intelligence, and algorithmic trading.

Should I Get Certified in FinTech?

What is the advantage of earning a FinTech certificate? Certificates demonstrate to employers and clients that you have the skills necessary to perform well in a FinTech position. This gives 

3you a competitive edge in your job search after the course ends. Many programs design class assignments to help you show your abilities when looking for a job, and some include job search assistance. Getting certified in FinTech can put you on the road to an exciting and well-paid position.

How to Get Certified in FinTech

Next to going to college, signing up for a FinTech certification course is the best way to prepare to launch a new FinTech career. Look for a course that offers classes in the FinTech area that interests you the most, like banking, investing, cryptocurrency, or regulation. 

When you are looking at courses, find out if you need previous training in other areas, like Microsoft Excel or Python, before you sign up. Note when the class meets and if the schedule fits your availability. What does the course cost, and does it fit into your budget? Are there scholarships and loans available to pay for your training? 

Another thing to consider is whether the program includes a mentoring or career counseling component. Some training programs help you prepare to take a test during a coding interview. Also, can you repeat classes later on if you feel the need to review? Some programs let students take a class over again for free within a year.

How Difficult Is it to Become Certified in FinTech?

The answer to this question depends on you–your interests, motivation, and talents. Learning FinTech skills requires an interest in finance and computing. If you like numbers, you are ahead of the game. If you are creative and enjoy a challenge, you will have an easier time learning the tools and techniques required for a FinTech career. It's always easier to learn something that interests you. The most important factor is motivation. If you are having difficulties with a topic, get help from your instructor and keep your goal of a FinTech career in mind.