FinTech Cost

The cost of FinTech products and services varies from product to product and company to company. Many companies reward customers for using their free product or service: Starbucks and other retailers provide rewards points after multiple purchases, and even banks and credit cards provide point systems in many instances.

On the other hand, companies like PayPal have historically charged processing fees, and banks make up their interest and points costs by charging overdraft fees, minimum monthly balance fees, or other surcharges for their service.

Learning FinTech can cost little on the front end—open-source languages like Python are free to use, and many online seminars and tutorials can be found free of charge—but training for a FinTech career will inevitably have a price. Consider first what area of FinTech you want to learn.

What is FinTech?

FinTech stands for financial technology. Multinational corporations like Apple and Google offer FinTech services, but many smaller companies specialize in FinTech products and services. Some companies classify themselves as FinTechs, such as Venmo, Stripe, and Robinhood.

Banking as a Service (BaaS), PayPal’s platform, and Ethereum’s platform may be referenced as products or services, depending on the source. While the term FinTech can encompass a bewildering array of services, products, and companies, consider any financial technology under the FinTech heading. Mobile banking, digital lending and credit, financial advisory services, and cryptocurrencies all fall into the category of FinTech.

Read more about what FinTech is and why you should learn it.

What Can You Do with FinTech?

FinTech refers to the many Financial Technology products and services you can use today and some of the companies that offer them. Consider FinTech as an umbrella term referring to three main categories:

1. Services - On a basic level, many FinTech services may be considered products, and vice versa. PayPal is a service, but the platform of services PayPal offers may be called a product itself. To simplify matters, look at services that are now commonly provided and named as such: Banking as a Service (BaaS), payment services like Venmo, and investment services like Robinhood.

1. Products - FinTech products range from the payment app you use on your smart device every day to robo-advisors and digital banking. Currencies aren’t typically referred to as products, but cryptocurrencies certainly fall into the product category as opposed to a service.

1. FinTech Companies - Organizations like Visa and Mastercard top the list of major FinTech companies in the U.S., followed by Tencent and Ant Financial in China, then U.S. companies Intuit, PayPal, and Stripe. These firms offer FinTech products or services, and people generally refer to the companies themselves as “FinTechs.”

Additional FinTech products, services, and technological innovations include wealth management, insurance (a.k.a., “insurtech”), and credit reporting/identity theft protection services.

In-Depth Review of the Cost

Python sits atop many lists as the number one programming language for FinTech positions. From data science pros to cybersecurity experts, FinTech roles require Python training.

Fortunately, this essential language is free, and not only on a trial basis. Python’s open-source status means its libraries and frameworks are only a click away.

Java, another popular programming language among FinTech pros, is also free to use. These top languages, with their easy accessibility and strong support communities, should be the first stop for anyone analyzing the cost of learning FinTech.

Free online seminars and tutorials provide another source of education for learning FinTech. Noble Desktop’s Intro to Python Fundamentals and Get Started In Data Science seminars offer training about the advantages of open-source software, how to analyze datasets, and how to use tools like Anaconda and Jupyter Notebook.

Once you understand the essentials, start looking for formal training through a comprehensive bootcamp or certificate program.

Why Learn FinTech?

Most people have varying degrees of familiarity with FinTech services and products like Apple Pay, Venmo, and PayPal. But knowing how to use Starbucks Rewards is a far cry from learning how to build FinTech applications.

When someone says they want to learn FinTech, their intention can differ vastly from another person who says the same thing. FinTechs like Mastercard and Visa need cybersecurity professionals, as do banks and other financial institutions that offer FinTech services. On the other hand, tech giants like Apple and Google may focus more on developing new products in addition to those they already provide.

The world of cryptocurrency and the blockchain may still be more of a Wild West than traditional banking, but startups in this sector require everyone from Software Developers to Financial Analysts.

Whether you plan a role in data science, banking, finance, insurance, wealth management, or cybersecurity, FinTech will undoubtedly play a role. Whichever way you go, consider FinTech as a factor.

Read more about why you should learn FinTech.

Free Introductory FinTech Course Online

If you’re not yet ready to commit to a full-length course, you can start learning about FinTech for free online. Check out Noble Desktop’s Get Started In Data Science seminar or their Intro to Python Fundamentals seminar. In these free introductory courses, you’ll learn about subjects like data science, practical uses of Python, and how to analyze datasets, among others.

Additional course providers who offer free online classes include Global FinTech Academy and FBS Markets, Inc. You’ll find offerings on topics like Regulatory Technology (RegTech), FinTech applications, and FinTech Law and Policy, to name a few.

Read about more free FinTech videos and online tutorials.

Learn FinTech with Hands-on Training at Noble Desktop

Some people think there’s only one path to training for a FinTech career, that of a lengthy degree program, but there are other alternatives. Among the most popular is the bootcamp or certificate training model.

Noble Desktop is a leading provider of online education in areas directly relevant to the booming FinTech field. They provide multiple educational options for students, both those who are new to FinTech and others already working in tech. The following are some of their most popular programs.

1. FinTech Bootcamp - This comprehensive FinTech course is open to beginners and can be completed in four weeks full-time or four months part-time. Topics include SQL and Python for data science, automation, and machine learning.

1. Python for Finance Bootcamp - The 18-hour Python for Finance Bootcamp acquaints students with financial models, managing portfolios with Python, and other Python-centered topics. Students can save by taking this class as part of the FinTech Bootcamp. See course listings for prerequisite information.

1. Financial Modeling Bootcamp - A 21-hour program, the Financial Modeling Bootcamp includes topics like Discount Cash Flow (DCF), Leveraged Buyouts (LBO) Modeling, and financial analysis with MS-Excel. Check course listings for details, including prerequisite information.

Other Noble Desktop programs to consider are the Python Programming Bootcamp, Data Science Certificate, and Python for Data Science Bootcamp.