Financial Technology (Fintech) Specialisation in Banking & Finance Degree Programme at the Best Private Universities in Malaysia
Due to changes brought on by digitalisation of the banking industry, there is a strong demand for fintech, risk, audit, and compliance professionals with exposure to analytics as banks sought to transform and enhance functions.
In 2024, Malaysia is set to see significant growth in its fintech industry. This is primarily due to increased digital adoption in the country, supported by government regulations, substantial funding, and a growing talent pool. These factors are vital contributors to the increase in demand for qualified Fintech professionals in Malaysia.
The Malaysia Fintech Market size in terms of transaction value is expected to grow from USD 46.63 billion in 2024 to USD 96.09 billion by 2029, at a CAGR of 15.56% during the forecast period (2024-2029). The fintech landscape in Malaysia is evolving dynamically, marked by the innovation of local startups and global players introducing new business models, products, and services.
With the advancement of new technology brings new challenges and opportunities, it is important that Malaysia’s higher education play a key role in producing graduates equipped with the skills that employers will need. The explosion of the internet and the mobile internet has catalyzed the rapid development of financial technology (Fintech). The Fintech industry covers businesses that use technology within financial services to improve a product or service for customers and this covers everything from payment methods to setting up bank accounts. Job demand for Fintech in Malaysia & globally is high and keep rising. Salaries and remuneration packages for Fintech graduates are very attractive as well.
The Financial Technology (Fintech) degree course will give students a mix of theory and practical skills and experience in order to support the growth of this vital sector in our economy. Now more than ever businesses need employees with the knowledge and skills to advise on how they can grow within the financial services sector.
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Studying the Financial Technology (Fintech) Course in Malaysia
What is Fintech?
Financial Technology (FinTech) is an emerging engineering discipline that focuses on employing technological innovations in financial practices. Leveraging on the cutting-edge developments of engineering, particularly information technology and data sciences, it demonstrates an unprecedented potential to revolutionize the nature of the traditional financial service industry in a fundamental way.
The advents of digital currencies, crowdfunding platforms, robot investment advisors, big data analytics, and algorithm-driven trading strategies profoundly impact the ways people make payments online and offline, store and manage their wealth, and finance their businesses.
On one hand, FinTech significantly improves end-users service experience, making the financial industry more inclusive and productive. On the other hand, it imposes a crucial challenge of understanding and analyzing its social benefits and risks economically, technologically, and legally, so as to foster its healthy developments. Nowadays FinTech has gained tremendous momentum and applicability in the finance industry, creating a great amount of employment opportunities to accommodate innovative young talents.
Study Fintech at a Top Private University in Malaysia
Bryan & Wen Kai, Fintech at Asia Pacific University (APU)
With the advancements in technology, the new generation of secondary school students are well versed in its usage. When it comes to payments and every day expenses, they are familiar with the convenience of e-wallets such as Touch‘n Go, GrabPay or Boost. These digital payment platforms have allowed them to make seamless transactions, pay bills, and even split expenses with friends. They are immersed in the world of Fintech without even realising it.
Fintech has revolutionised how we handle our finances, allowing for a secure and convenient alternative to traditional cash payments and banking. Students who desire to study Banking and Finance should not choose the traditional degree programmes which would not prepare you for a technologically advanced future in Financial Services.
Technology plays an important role in this transformation of finance and commerce. Advancements in artificial intelligence, blockchain, big data analytics, and cloud computing have provided avenues for innovative financial products, services and solutions. In addition, Artificial intelligence-powered chatbots provide personalised customer support, while blockchain technology ensures secure and transparent transactions. Big data analytics enables data-driven insights for risk assessment and fraud detection, and cloud computing facilitates efficient storage and processing of vast amounts of financial data. Therefore, when you study fintech, you will acquire a good grasp of these technologies and how they are applied in the financial world.
By studying fintech at a top private university in Malaysia, you gain a competitive edge in the job market. A degree programme in Fintech will equip you with the technical skills and knowledge while the environment will help develop your critical thinking abilities, and entrepreneurial mindset necessary to succeed in fintech. Upon graduation, you can pursue find work in digital banking, financial consulting, risk management, data analysis, cybersecurity, product development, and entrepreneurship.
Which are the Best Private Universities to Study Fintech in Malaysia?
Darren, Finance & Investment Graduate from UCSI University
In response to the technological advancements affecting the future jobs in Malaysia. These top private universities are the first to offer their one-of-a-kind Fintech degree specialisations. Students taking these courses will definitely be job ready and future proof when they graduate with the relevant skills of the future.
- Asia Pacific University (APU)
- Taylor’s University
- Monash University
Do I need to know Coding or Programming to work in Fintech?
You don’t really need to learn software programming to work in Fintech within the Banking and Financial Services sector. Learning Python software in the curriculum is enough for students to enter fintech, because it is easy to write and deploy and very user friendly.
You will understand the architecture; like how the algorithm works to give a solution. For example, within Banking and Financial services it is the application of Ai in financial decision making; application of machine learning that will produce a predictive analysis to assess if your customer that is coming onboard is good or bad customer.
What are the Fintech subjects that you will Study?
The Fintech modules will include subjects on data mining, predictive analytics, digital currencies, blockchain technologies, crowdfunding and alternative lending, robo-advisory, and entrepreneurial finance. Other subjects covered are financial accounting, management accounting, audit and assurance, corporate governance, taxation, corporate finance, and information systems.
What are the General Entry Requirements into the Fintech Course?
Note that entry requirements will vary from university to university. Below is just a guide:
- TPM
Pass STPM with a minimum Grade C+ (GPA 2.33) in any 2 subjects and pass SPM with credit in Mathematics and pass in English; OR - A-Level
Pass A-Level with minimum 2 D grades - UEC
Pass in UEC with minimum 5 credits (B6) including Mathematics and pass in English - International Baccalaureate
Pass International Baccalaureate (IB) with minimum score of 26 points in 6 subjects - AUSMAT/HSC/ SACE/TEE/WACE
ATAR score 60% OR minimum 60% average in 5 subjects - UCSI Foundation Year
Minimum CGPA of 2.50 out of 4.00, and pass SPM (or any equivalent qualification) with credit in Mathematics and pass in English - Local matriculation
CGPA 2.5 and pass SPM (or any equivalent qualification) with credit in Mathematics and pass in English. - Any qualification equivalent to Diploma in Finance, Banking, Insurance or related field
(Level 4, MQF) with minimum CGPA of 2.50; OR - Other equivalent qualifications
As recognised by the Government of Malaysia.
What is the Job in Fintech like?
Fintech graduates will be ideally suited for positions that require strong quantitative and technological skills in the financial services industry. Prospective career opportunities in Malaysia include investment and commercial banking, insurance, asset management, Internet finance, government regulatory agencies, FinTech startups, and so on. Graduates can also pursue further advanced studies in finance, management sciences and engineering, computer sciences, information engineering and related fields.
How to Pursue a Career in Fintech within the Banking & Financial Services Sector?
Students should look for a course that possess subjects related to Fintech within a Banking and Finance degree programme. The Financial Technology (Fintech) degree course will give students a mix of theory and practical skills and experience in order to support the growth of this vital sector in Malaysia’s economy. Now more than ever businesses need employees with the knowledge and skills to advise on how they can grow within the financial services sector.
When it comes to traditional degrees, some private universities are offering degrees with a focus on fintech as the field grows. These programs allow students to learn the specifics of a traditional finance major while developing the technical skills that may be potentially valuable in fintech. The degree programme at a private university in Malaysia will take 3 years to complete. Prepare yourself for a future where finance and technology converge by choosing the best private university for your degree studies