FinTech, also known as Financial Technology, refers to financial services delivered and utilized by using technology. For example, it includes digital payments, cryptocurrency, and peer-to-peer (P2P) lending. Learning FinTech means understanding financial concepts, gaining technological proficiency, practicing ethical and legal means of business according to the industry’s regulations, and understanding trends in FinTech. 

An important factor that goes into deciding to learn a new skill is researching complementary and related skills. Doing so will help you make more informed decisions about what you want to learn, and it will help you decide whether or not learning a specific skill is the right decision for you. You will also learn what kind of skills you may want to learn to complement your training later on. Read on to learn more about related FinTech training options such as data science and analysis, user experience design, and project management. 

What is FinTech?

FinTech is the convergence of financial services and technology. FinTech includes software aimed at delivering financial services and processes to consumers in a way that’s faster and more secure than previously possible. FinTech aims to make everyday financial decisions more efficient while innovating how people make financial transactions through applications or websites. Additionally, FinTech makes use of data analysis and applies it to the creation of FinTech software to ensure the innovation of efficient, secure, and easy-to-use solutions. 

The advent of FinTech dates back to the 1950s and 1960s, with the popularization of credit cards and electronic payment systems in the US. The FinTech industry of today has greatly evolved from what it once was alongside technology and the country’s economic growth. By the late 20th century, the landscape of FinTech had significantly altered, and today, the industry continues to evolve by leaps and bounds, with the advancement of regulatory systems and the development of contemporary technology. 

What Can You Do with FinTech Skills?

Career paths associated with FinTech offer individuals with a broad range of skills entry into the industry. Within FinTech, you’ll find Data Scientists, Software Engineers, Financial Analysts, Product Managers, and even Customer Service Representatives. 

Data Scientist

Data Scientists work with large sets of data which they analyze to help their company or client make business decisions. You can find Data Scientists working for the government, non-profits, financial services organizations, and other businesses. In the FinTech industry, Data Scientists navigate and manipulate financial data which is then used to make financial decisions. They may use data to predict risk, to evaluate investments, or to estimate the valuation of a company. 

Data Scientists must have analytical minds and excellent communication skills. Most companies expect them to have proficiency in languages such as R, SQL, and Python, file management, machine learning and algorithms, linear algebra, calculus, and statistics. An aspiring Data Scientist should consider earning a bachelor’s degree in mathematics or data science, or they can enroll in a data science bootcamp or certificate course such as the ones offered by Noble Desktop and similar training centers.

Software Engineer

Software Engineers develop software used for a variety of purposes, from gaming to operating systems, for companies or clients. Software Engineers need an understanding of several coding languages and know how to use frameworks, libraries, and developer tools. They often specialize in specific languages depending on the industry they work in. Coding languages frequently used by Software Engineers include Java, CSS, C++, and HTML. In addition to technical knowledge, a Software Engineer must possess other skills like problem-solving, critical thinking, process analysis, and communication. 

Software Engineers in the FinTech industry develop and maintain financial services software. Should you dive into a career as a Software Engineer, you may find yourself developing financial applications to facilitate transactions or manage data, building payment systems like mobile payment apps and online banking platforms, or predicting trends and detecting fraud with the use of data analytics and machine learning techniques. 

Financial Analyst

With their knowledge of business, finance, or accounting, Financial Analysts analyze data and make investment recommendations for their company or clients. They pay close attention to business and economic trends and manage this financial data to facilitate the decision-making process. Financial Analysts often specialize in a specific field, be it investment banking, equity, financial planning and analysis, or corporate development. They must have knowledge of industry jargon, understand how to manipulate and analyze financial data, and have the ability to communicate their findings with leadership. 

Financial Analysts in the FinTech industry provide key insights to help businesses make strategic financial decisions. Through their thorough analysis of financial data, they can ensure that their company or client makes logical and data-backed decisions. Financial Analysts interested in consumer behavior can lend their expertise to analyzing consumer behavior and feedback and offering recommendations to other teams on how to improve customer experience. 

Product Manager

Product Managers help develop business and development strategies for their company that will contribute to the success of a specific product or set of products produced by the company. This may include overseeing market analysis and product ideation. When working in the FinTech industry, Product Managers must use their market research skills to discern consumer trends and ensure that products meet customer experience expectations while staying up-to-date with the constantly innovating industry. They also work with stakeholders to ensure the alignment of priorities across departments and develop a clear vision for the product. 

Customer Service Representative

Like any business, FinTech companies depend on making their customers happy to maintain their business. Customer Service Representatives act as a bridge between consumers and the company, playing an integral part in representing the brand of their company and resolving customer concerns. They routinely handle transactions, educate consumers on how to use products correctly, and resolve consumer complaints. Their knowledge of the products and services in question is paramount, as many Customer Service Representatives provide technical support for a number of issues, including login problems, software glitches, and payment failures. 

Skills Related to FinTech

You can enter the FinTech industry in a variety of ways, meaning you’ll likely acquire a diverse skill set. If you’re interested in the finance side of the industry, you should take classes that emphasize financial literacy and analytical problem-solving. If you find yourself interested more in the technical side of FinTech, you may gravitate toward learning data science or software engineering. No matter which cornerstone of FinTech engages you the most, you can count on the opportunity to learn data science and data analysis, user experience design, and project management when enrolling in a FinTech program or exploring FinTech opportunities post-program or post-degree. 

Data Science and Data Analysis

In the FinTech industry professionals use data science and data analysis to organize and analyze data in the hopes of gleaning advanced insights into their services. These insights can range from customer experience when using products to the degree of efficiency of their services. From there, Data Scientists and Data Analysts in the field convey their findings and recommendations to other teams at their company working on these services and products, like production teams and marketing teams. Additionally, professionals use data science to evaluate risk and develop machine-learning models that detect fraud. 

Learning data science and data analysis skills can help you begin a career in FinTech or another related industry. Data science in particular can prove intensive to learn, but mastering data science for the field of FinTech can make the difference between you landing a high-salary position. If you’re interested in learning data analysis or data science, consider enrolling in Noble Desktop’s live online Data Analytics Certificate program or their Data Science Certificate program.

User Experience (UX) Design

UX Designers concern themselves with user satisfaction and ease of usability with products and services. The goal of a UX Designer is to design a product or service that visually appeals to customers and that they can use with no interruptions or misgivings. To successfully design appealing and easy-to-use products, UX Designers conduct user research to ensure that the products they develop correctly target the company’s audiences. Learning UX design skills means learning about consumer behavior and how to conduct user research, designing information architecture, working on product prototypes, and testing the usability of the product. 

Most beginner-level UX design classes focus on design theory before diving into consumer behavior and prototype creation. It’s important to understand the foundations of good design before diving headfirst into the world of UX design. UX design skills can help you land a role in the FinTech industry, designing applications, or as a freelance designer in another industry. Enroll in Noble Desktop’s UX and UI Design Certificate program to learn design concepts, industry tools, and research methodologies. 

Project Management

If you’re interested in overseeing FinTech projects, you may want to focus on developing project management skills. Project management involves overseeing a project every step of the way, from planning to organizing to budgeting. Project Managers ensure that every team member is on task and on schedule while also checking with leadership and key stakeholders and monitoring the overall development of the project. 

Project management classes help students develop not only the ability to multitask and oversee projects, but also interpersonal skills. It’s important that a Project Manager can effectively communicate with team members and stakeholders as they’re acting as the project’s figurehead, leader, and liaison. Noble Desktop’s Project Management Bootcamp will teach you the five phases of project management, project management tools and strategies, and the different project management methodologies. This bootcamp will help you understand how to effectively lead projects in both your professional and personal life. 

Learn FinTech Skills with Noble Desktop

Learn FinTech skills by enrolling in one of Noble Desktop’s FinTech programs. Noble Desktop offers most classes live online, where students will learn under the guidance of an instructor via a web conferencing platform, and in person at their NYC campus. 

Noble’s FinTech Bootcamp is an interactive program covering the essential skills needed to begin a career in the FinTech industry. Under the guidance of an instructor, you’ll learn Python programming, data science, financial analysis, data visualization, and machine learning. Noble Desktop offers the bootcamp in a 4-week full-time schedule on weekdays, or a 4-month part-time schedule on evenings and Saturdays. In addition to five units covering Python and SQL as used for FinTech, you’ll also have the option of choosing a bonus 18-hour elective unit on either Python or financial modeling. 

Students pursuing or currently in a finance-related profession, interested in using Python’s financial libraries to manipulate and analyze financial data, should enroll in Noble Desktop’s Python for Finance Bootcamp. Over the 18-hour live online course, students will learn how to use Python’s financial libraries and gain hands-on experience gathering and manipulating financial data, fetching APIs for company and economic data, analyzing SEC financial statements, building risk models, and applying linear regression for stock price predictions. Aside from a financial background, students should also have taken Noble’s Python for Data Science Bootcamp, or have equivalent knowledge. If you want to take the course but don’t think you have the financial background necessary, contact Noble after registration to access a free on-demand supplemental guide. 

Financial modeling plays an important role in the FinTech industry. Analysts working for a firm or taking on clients should understand how to use financial models to predict risk and evaluate and compare financial decisions. In Noble Desktop’s Financial Modeling Bootcamp, you’ll learn essential financial and accounting concepts as you work toward gaining the core skills required for a career handling equity research, financial planning and analysis, investment banking, private equity, or corporate finance. Prior financial experience is helpful when enrolling in the bootcamp, but not required. After completing the three-day course, you’ll receive a verified digital certificate of completion and have access to a retake for free within one year. 

Noble Desktop’s beginner-level Data Science Certificate program will provide you with the hands-on training needed to start an entry-level data science or Python engineering position. Spend four weeks full-time (weekdays) or 20 weeks part-time (evenings or Saturdays) learning how to program with Python, perform data analysis, query with SQL, and create predictive models. You’re guaranteed to succeed in this class as you spend 114 hours plus an additional six 1-on-1 mentoring sessions receiving professional advice, receiving detailed and personalized feedback, and mapping out your learning goals. No prior knowledge is required to enroll, making the class ideal for individuals looking to get started with data science, Analysts who want to transition to using Python and SQL, and Developers looking to gain additional skills.