"Our first batch of about 100 students come from a predominantly tech background like BCA and BTech. They had to clear a technology specific entrance test to qualify for the course," said Ambarish Datta, CEO and MD of BSE Institute. The course will focus on explaining markets, banking regulations, trading apart from block chain, crypto currency, creating apps and algo-trading among others.
According to the World Fintech Report, 2017, most fintech firms start their journey as startups with limited worries about existing systems, cultures and a huge technological advantage that helps cut costs. With the Indian government pushing for a digital economy and actively encouraging startups with the launch of platforms like Startup India, the timing for launching the course could not have been better.
The report mentioned that over 77 per cent of Indians availing financial services are using fintech in some form or the other. This is second only to China with 84 per cent engagement.
"The programme curriculum is so designed that it covers many facets of the financial markets thereby increasing the standard of knowledge and skills the students shall possess by the end of the programme," said Sanjay Deshmukh, Vice Chancellor of Mumbai university.
Datta added that job opportunities go beyond startups with digital payments and financial expertise being increasingly seeked by large organisations.
LendingKart, Ezetap, MobiKwik, Paytm, Perfios and Zestmoney were Indian fintech companies that were listed by CB Insight among the top 250 most promising fintech firms across the globe.
"While an MBA is certainly what the industry needs, there is nothing that can replace domain expertise. There is a huge opportunity in fintech growth but it is also important to have a flexible syllabus that will accommodate changes in digital economy and regulatory changes," said Naveen Raju. Executive Director of TiE Mumbai.
TiE, which provides an entrepreneurial network for businesses, witnesses at least 30 to 40 per cent of their members dabbling in fintech solutions. Product management, design thinking and entrepreneurial skills are the top requirements for grooming fintech professionals, added Raju.