Financial Technology (Fintech) - A field of study for modern young people

Financial technology or Fintech (abbreviation of Financial Technology) has become a prominent field, attracting the attention of young people. This is a technology industry that combines finance and information technology, bringing many career opportunities and attractive income levels for Gen Z. In this article, we will learn about Fintech and why this is a field of study for modern young people.

What is Fintech?

Fintech is the combination of finance and information technology. That is, applying technologies such as artificial intelligence, blockchain, big data and mobile communications to traditional financial services. The goal of Fintech is to increase efficiency, convenience and cost savings for financial transactions.

How Fintech is Changing Financial Services

Through Fintech, users can perform financial transactions remotely, such as transferring money, paying bills, borrowing money, or investing conveniently and quickly with just a smartphone. At the same time, it also brings financial services to people without traditional bank accounts, making financial access accessible to everyone.

Benefits of Fintech for Young People

With the development of Fintech, the demand for human resources specializing in financial engineering and information technology is increasing. This opens up new job opportunities and high income for young people interested in this field. By studying and training in Fintech, young people can become experts in the field of financial technology and contribute to the development of the industry.

In addition, Fintech also helps modern youth practice creativity and entrepreneurship skills. With advanced technologies such as blockchain and artificial intelligence, Fintech creates a favorable environment for the development of new ideas and startups. Young people can learn about technical aspects, risk management and data analysis in this field, thereby applying them to building advanced products and services in the financial market.

Furthermore, Fintech also brings opportunities to shape the future. With the rapid development of technology, Fintech is changing the way we use money and manage assets. Young people interested in Fintech can contribute to the development of new technologies to change and improve the current financial system. This not only creates new business opportunities but also contributes to the sustainable development of society.

With this major, students will be researchers and developers of modern financial products applied in the digital age such as:

1. Artificial Intelligence (AI): Artificial intelligence plays an important role in Fintech, helping to automate and increase the efficiency of financial processes. AI can be used to analyze financial data, predict market trends, identify risks and make investment recommendations. In addition, AI chatbots are also used in customer service, helping to advise and answer financial questions automatically.

2. Blockchain: Blockchain technology plays an important role in verifying and recording financial transactions in a secure and transparent manner. With blockchain, transactions do not need to go through intermediaries and can be done quickly and cost-effectively. At the same time, blockchain also provides high security and helps minimize the risk of fraud and financial fraud.

3. Internet of Things (IoT): IoT can be applied in the financial sector to collect data from connected devices and provide important information about finance and asset management. For example, smart devices such as POS (Point of Sale) machines can automatically record sales data and transmit this information to the financial management system. This helps to enhance the management and analysis of financial data effectively.

4. Big Data and Data Analytics: Fintech uses big data and data analytics to better understand customers’ financial behavior and trends. By collecting and analyzing data from various sources such as financial transactions, social media, and online behavior, Fintech can make informed personal financial predictions and recommendations to users.

5. Mobile payments and e-wallets: Fintech is driving the growth of mobile payment apps and e-wallets. Thanks to apps like Apple Pay, Google Pay, or e-wallet services like PayPal and ZaloPay, users can make payments conveniently and securely through their mobile phones. These services offer features like money transfers, bill payments, and online transactions.

6. Crowdfunding and Peer-to-Peer Lending: Fintech provides crowdfunding and peer-to-peer lending platforms, allowing users to borrow and lend directly to each other without going through traditional banks. This creates opportunities for many people in need of capital such as startups or individuals to access capital and at the same time benefits investors who want to invest in potential projects.

7. Insurtech: Insurtech is the combination of technology and the insurance industry. Technologies such as artificial intelligence, big data and blockchain are applied to improve the insurance purchasing process, risk assessment and claim management. Insurtech helps to enhance customer experience, increase transparency and reduce risks in the insurance industry.

8. Robo-Advisor: Robo-Advisor is a type of automated investment service based on artificial intelligence and algorithms. Robo-Advisor helps users make smart investment decisions based on their financial goals and desired risk level. Robo-Advisors provide features such as portfolio management, investment advice, and investment performance tracking.

9. Open Banking: Open Banking opens up the possibility of sharing users' financial data with authorized third parties. This creates a competitive environment and encourages innovation in the financial industry. Open Banking provides the ability to connect different financial accounts and provide more comprehensive financial services to users.

10. Other applications...

Study Fintech at Dai Nam University

To study Fintech, young people can start by learning about related courses and training programs. In the 2024 school year, Dai Nam University officially opened the Financial Technology (Fintech) major under the Faculty of Finance and Banking.

With the training model of the lecture hall - enterprise, students have practical experience, practice, internship right from the first year and throughout the learning process. Many students are invited by enterprises to stay and work right after the end of the internship period and after graduation.

>>> REGISTER FOR ADMISSION: HERE