Finance technology, or FinTech, is a term that is used to refer to the use of technology in financial products and services. People who work in this field design a wide range of different creative technological solutions to financial needs. These include peer-to-peer payment services, digital wallets, mobile banking apps, and automated portfolio managers. According to Merriam-Webster, the term was first used in 1971. However, it wasn’t until about 2010 that FinTech started to be widely used—at about the same time as the use of internet-based services accelerated. Since then, it has continued to evolve and is now relied on by a large percentage of businesses.
What Can You Do with FinTech Bootcamp Training?
In today’s digital age, the financial industry is being transformed by technology, making FinTech skills increasingly valuable. FinTech training can lead to job opportunities in a wide range of different areas including data analysis, security, financial modeling, and customer experience. In a Course Report guide titled, “Navigating the FinTech Career Path: Jobs and Salary Guide, ” the author explains, “The FinTech job market is teeming with opportunities, and some roles are in higher demand than ever before.” She reports that some of the most in-demand FinTech roles are FinTech Product Manager, Data Scientist, Compliance Officer, and Cybersecurity Expert.
What Will I Learn in a FinTech Bootcamp Class?
While every FinTech class is different, most cover a similar set of fundamental concepts and skills. For instance, to work in this field, you’ll need to understand fundamental financial concepts and also have basic coding skills, so these will be covered in a bootcamp. A bootcamp is also likely to cover machine learning and blockchain technology and help improve your analytical skills.
Coding
FinTech involves coding, so when you take a FinTech bootcamp, you’ll probably learn fundamental coding skills. Languages you might learn include JavaScript, SQL, Java, and C++.
Machine Learning
Machine learning is a central part of FinTech. Specialists use it to help them analyze big data and make connections and find trends that would otherwise be difficult to see. In a FinTech bootcamp, you may also learn how to implement machine learning models for tasks such as automatic decision-making and identifying risk.
Blockchain Technology
When you take a FinTech bootcamp, you’ll learn about blockchain technology, which is a critical part of this field. Blockchain technology is a decentralized mechanism that makes secure, real-time financial transactions possible.
Financial Concepts
If you want to work in FinTech, you’ll need to have a solid understanding of finance, and this is likely to be covered in a FinTech bootcamp. You might learn about how the field of finance works and how it has changed over time. A class is also likely to cover financial regulations, different types of business models, and emerging technology.
Analytical Thinking
As you learn about FinTech and the skills needed to work in this field, your analytical skills will grow stronger. For instance, you’ll be improving these skills as you interpret data, look for relationships, and draw conclusions about it.
How Hard is It to Learn FinTech?
To work in FinTech, you’ll need to master a wide range of technical skills such as coding and the ability to work with machine learning. You’ll also need to develop a strong understanding of financial concepts and regulations. The difficulty involved in learning all of this will depend in part on how much knowledge and experience you already have in these areas. If you already have financial expertise and/or proficiency in coding, the learning process is likely to be significantly easier. However, regardless of their knowledge and experience, almost anyone can learn FinTech if they are dedicated and willing to devote time to learning and practice. For a highly technical topic like FinTech, it can be helpful to enroll in a live class where you’ll be guided by an experienced instructor who can take you through a comprehensive curriculum, answer your questions, and provide feedback.
How Long Does It Take to Learn FinTech?
Most people find that they can learn the basics of FinTech within a few weeks and achieve a decent level of mastery within several months. Your specific learning experience will depend on several factors such as your existing knowledge, your pace of study, and the specific area of FinTech that you’re focused on. One of the best ways to learn FinTech more quickly is to enroll in a bootcamp. A bootcamp is an accelerated course specifically designed to cover all the skills and concepts that you’ll need to master if you want to work in this field. Many bootcamps will prepare you for an entry-level job and will even provide career support services—such as help crafting a resume and building a portfolio—to help you find that job.
Should I Learn FinTech in Person or Online?
Some FinTech classes are offered in-person, while others take place in a virtual format. There are advantages and disadvantages to each offering. When you learn in-person, you’ll get the advantage of face-to-face interaction with your instructor and classmates. Many people find this more engaging, and some also find that it’s an easier way to master new skills. In addition, with in-person learning, you’ll be in a dedicated classroom space with minimal outside distractions. However, in-person learning involves commuting to a classroom, which can be inconvenient and may also limit your options.
In recent years, virtual learning—which takes place online—has become a popular alternative. It doesn’t require a commute, and it is likely to include more course options. If you opt for a live virtual class, you’ll still get the same real-time interaction as with an in-person class, with the opportunity to ask questions and get feedback on your work. In some classes, the instructor can even see and control your screen if you give permission. A disadvantage to this format is that you’ll need to supply your own equipment and software.
Another type of virtual learning is an on-demand class, which is asynchronous. The biggest advantage to this format is its flexibility; you have the ability to stop and start learning whenever you need to. In addition, on-demand classes are usually significantly cheaper than live online ones. A disadvantage is that there is no live instructor. Some people also find that the flexibility involved makes it more difficult to stay motivated and engaged.
Can I Learn FinTech Free Online?
The internet can be a valuable part of your FinTech learning process, helping you get a better understanding of this field, how it applies to business, and what tools are involved. One excellent source of free information is the Noble Desktop YouTube site, which contains many short, free videos that provide information about a variety of finance- and tech-related topics. If you want to master FinTech, however, you’re unlikely to find free resources sufficient. Not only are most free online resources not comprehensive enough, but in many cases, you can’t be sure of their accuracy or currency, which is especially important when it comes to an ever-evolving field like FinTech. Instead, most people find that it’s best to enroll in a formal class, like a bootcamp. With a formal class, you’ll have access to expert guidance and feedback. You’ll also learn as part of a group, which can enrich the learning process and also give you access to valuable networking opportunities.
Industries That Use FinTech
FinTech is an important part of the financial industry, and according to the Baltimore County Government website, financial services is a key industry in the Baltimore area. The website states, “With over 2,000 Financial Services employers, Baltimore County employs more than 20% of the State’s workers in this industry.” It finds that more than 72,000 people are employed in this field in total in Baltimore. It reports that the top three employers are T. Rowe Price, Bank of America, and Toyota Financial Services. Visit Baltimore also lists financial services as a key Baltimore industry, stating, “Statewide, 8,380 financial services firms employ nearly 92,000 workers and generate $20.7 billion.”
FinTech Job Titles and Salaries
Financial Analyst
A Financial Analyst analyzes complex financial data and financial trends and helps businesses and individuals make more informed financial decisions. Most Financial Analysts are good at communicating and have strong analytical and critical thinking skills. The U.S. Bureau of Labor Statistics (the BLS) predicts that over the next ten years, Financial Analyst jobs will grow by about 9 percent. It explains that one reason for the projected increase is the growth of big data. It says, “Financial analysts… will be needed to assess growing volumes of data. Their analysis will help businesses manage their finances, identify investment trends, reduce risk, and deliver new products or services to clients.” According to Indeed, Financial Analysts earn an average yearly salary of $74,000 in Baltimore.
Data Scientist
Data Scientists collect and analyze data. They work in many different fields, including in FinTech. Data Scientists in this field analyze financial data with statistical and machine learning models. They also create algorithms for FinTech applications. Data Scientists often have a high level of education and are typically paid well. According to the BLS, over the next ten years, data science jobs will grow by 36 percent. It says, “Employment growth for data scientists is expected to stem from an increased demand for data-driven decisions… Data scientists’ analysis will help organizations to make informed decisions and improve their business processes, to design and develop new products, and to better market their products.” According to Indeed, the average salary for a Baltimore Data Scientist is $110,000.
Machine Learning Engineer
A Machine Learning Engineer creates artificial intelligence software that automates computer functions. Some specialize in FinTech, where they create algorithms to apply to financial data. Machine Learning Engineers need to be skilled in data science, math, and programming and have strong problem-solving skills. Indeed reports that the average annual salary for a Machine Learning Engineer in Baltimore is $113,000.
Software Developer
Software Developers design, create, and maintain a variety of different types of software applications. They work in many different industries, including the finance industry. This is an in-demand field, with the BLS projecting that software development jobs will grow rapidly over the next ten years, at a rate of 17 percent. The agency explains, “Increased demand for software developers, software quality assurance analysts, and testers will stem from the continued expansion of software development for artificial intelligence (AI), Internet of Things (IoT), robotics, and other automation applications.” It reports that Maryland is a top-paying state for Software Developers. According to Indeed, the average annual salary for a Software Developer in Baltimore is $95,000.
FinTech Bootcamp Classes Near Me
Noble Desktop offers FinTech training. This school is based in New York City but offers classes in a live online format as well. The FinTech Bootcamp is a multi-week program designed to give you the skills you’ll need for an entry-level job that involves FinTech such as financial or data analysis. You’ll learn a wide range of Python, SQL, machine learning, and data analysis skills, including working with SQL query databases, using Python to create dashboards and visualizations, and building statistical models with machine learning. You'll also learn to use Python for financial analysis. In addition, you’ll work on a portfolio. Six one-on-one mentoring sessions are included. In 2024, the FinTech Bootcamp was recognized as one of the Best Online FinTech Bootcamps by Forbes Advisor.
Noble Desktop also offers a Financial Modeling Bootcamp, which covers finance and accounting concepts. In this multi-day course, you’ll also build a comprehensive discounted cash flow model in Excel based on a real company. Students who want to take this class should have intermediate-level proficiency in Excel. For students who need to learn Excel first, Noble also offers several different Excel classes, including an Excel Bootcamp.
Another Noble Desktop option is the Data Science and AI Certificate, which covers Python, SQL, machine learning, and automation. In this course, you’ll learn Python fundamentals and how to use Python’s data science libraries, write SQL database queries, and use Python for automation. You’ll also learn how to use your data to build machine learning models, and you will learn about creating dashboards and visualizations. In addition, you’ll work on real-world projects that align with industry standards. The course comes with six one-on-one mentoring sessions.
The University of Chicago offers an online FinTech Accelerated Bootcamp, which is a multi-week course that covers a broad range of FinTech skills. In the first part of the course, students learn about challenges, opportunities, and regulations in FinTech, with instructors using many real-world examples. There will also be industry speaker sessions. After that, there is a one-week review to ensure that students have mastered key concepts. The course concludes with a three-week final project, which includes extensive instructor feedback.
UC Berkeley also offers an online FinTech course, which is titled Berkeley FinTech: Frameworks, Applications, and Strategies. This is a multi-week course that covers both financial and technology skills. Students learn about tools, trends, and current innovations in the field. Instructors also cover notable FinTech organizations and new business models. In addition, students learn about factors that predict success, and frameworks for identifying opportunities. Case studies and real-world examples are incorporated throughout the course.
The Wharton School, which is part of the University of Pennsylvania, also offers an online FinTech program. Foundations and Applications of Financial Technologies Specialization is a certificate course that is designed to give students a better understanding of financial technology. The program is made up of four multi-week courses that cover a variety of FinTech topics including regulations, crowdfunding, robo-advising, financial regulations, cryptocurrency, blockchain, and peer-to-peer lending.
FinTech Corporate Training
FinTech skills are valuable in many different industries. If you’d like to train a group of employees in FinTech, Noble Desktop offers a variety of corporate FinTech training options. Expert instructors can run a training session either on-site at your office or in a virtual format, via Zoom or a similar platform. All courses can be customized to meet your specific needs. In addition, participants will receive a variety of post-training support materials such as handouts and access to videos, to reinforce what they learn in the training.
If you’d like a more flexible option, you can buy vouchers for Noble Desktop’s regularly scheduled public enrollment classes, and let your employees enroll individually. Noble offers a discount with bulk voucher purchases. To get more information about corporate training options, email Noble Desktop.