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Advancing Fintech through a transdisciplinary approach.

Debora Jackson1, Kwamie Dunbar1, Joseph Sarkis1

  • 1Worcester Polytechnic Institute, Worcester, MA 01609, USA.

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Financial technology (Fintech) is reshaping industries and requires educational reform. Higher education must collaborate with businesses to upskill the workforce for emerging Fintech roles.

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Area of Science:

  • Financial Technology (Fintech) and its role in Industry 4.0.
  • Interdisciplinary collaboration in the advancement of Fintech.
  • The impact of emerging technologies on traditional financial services.

Background:

  • Fintech, a portmanteau of financial technology, is an evolving field.
  • No universal definition exists for Fintech; it varies by company and sector.
  • Technological advancements in Fintech present opportunities and challenges for businesses, consumers, and the labor force.

Discussion:

  • Fintech's disruption extends to educational systems at all levels.
  • There is a growing need for new talent cultivated through Fintech innovation.
  • Higher education institutions and the business community must respond proactively.

Key Insights:

  • The rapid advancement of Fintech necessitates a re-evaluation of educational curricula.
  • Skilling, reskilling, and upskilling are crucial for workforce adaptation.
  • Collaboration between academia and industry is vital for future workforce development.

Outlook:

  • The integration of Fintech into the economy is set to accelerate.
  • Educational institutions need to adapt to prepare students for Fintech-driven job markets.
  • Proactive strategies are required to bridge the skills gap in the financial technology sector.