New Zealand uni launches fintech degree amid surge in demand

New Zealand's University of Waikato is making progress in the fintech sector by launching a new degree program as demand for fintech specialists increases.

The three-year Bachelor of Banking, Finance and Technology (BBFinTech) aims to bridge the gap in New Zealand's undergraduate education. The program focuses on understanding open banking, digital currency and related technologies.

University of New Zealand accepts fintech students

Waikato School of Management Vice-Chancellor Matt Bolger said;

“The financial world runs on digital technology.”

This statement shows the urgent need for a program that provides knowledge and expertise to those who want to work in the financial technology sector.

“Nothing happens without digital,” Bolger emphasized. He noted the lack of a bachelor's degree in New Zealand and the need for a combination of finance and technology skills.

Developed over two years, the BBFinTech program equips students to understand the intricacies of both open banking and digital currency.

Bolger says there is “huge growth potential in this sector.” This suggests that the program could pave the way for lucrative career opportunities in the fintech industry.

The fintech business is booming.

Meanwhile, the Monetary Authority of Singapore (MAS) is investing nearly US$112 million over three years in the Financial Sector Technology and Innovation Scheme (FSTI).

This commitment will support critical financing projects, including Web3 solutions, that will strengthen Singapore's status as a global technology hub.

MAS Managing Director Ravi Menon highlighted Singapore's continued efforts to foster innovation;

“Since 2015, the Financial Sector Development Fund (FSDF) has been awarded $340 million as part of the FSTI program to encourage technology and innovation in the financial sector. With FSTI 3.0, we look forward to continued collaboration with the industry to promote financial innovation with a purpose.

This is the third iteration of FSTI announced by Lawrence Wong. Wong is Deputy Prime Minister, Minister of Finance and also Vice Chairman of MAS. It supports Artificial Intelligence and Data Analytics (AIDA), Regulation Technology (RegTech) and Environmental, Social and Governance (ESG) fintech solutions.

The University of Waikato's BBFinTech program and MAS' investment in fintech innovation demonstrate the growing importance of digital currencies and fintech in the global economy.

Overall, both initiatives reflect the growing demand for professionals in these fields.