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ERIC Number: ED598543
Record Type: Non-Journal
Publication Date: 2019-Mar
Pages: 11
Abstractor: ERIC
ISBN: N/A
ISSN: N/A
EISSN: N/A
Preparing Students for a Future in Fintech: The Role of Massachusetts Public Universities. White Paper No. 194
Earls, Eamon McCarthy
Pioneer Institute for Public Policy Research
Fintech describes new technology aimed at improving and automating the delivery of financial services. The term encompasses a wide variety of finance industry segments, such as crowdfunding, peer-to-peer lending, payments, data collection, cryptocurrency, credit scoring, cybersecurity for finance, thematic investing, algorithmic asset management, stock and bond investing, private securities transactions and more. New technologies compete with traditional finance models and change the internal processes of financial companies. Universities around the world are beginning to examine fintech preparedness and some are attempting to create coursework to fill the skills gap. Characteristically, the majority of university fintech programs in existence have focused on regulation, security considerations and understanding the impact of technology on the market. This high-level approach does not go into depth about individual technologies, leaving students to learn on the job or pursue additional elective coursework. This white paper recommends some ways public universities can prepare students in fintech. For example, public universities in Massachusetts can strive to offer coursework that gives a broad overview of fintech and regulation by examining in-demand skills as well as the pioneering efforts of early movers in academic fintech. For students, a key goal of fintech education is to develop the tools to think ahead of the curve. In addition, Massachusetts public universities can begin a process of examining their elective coursework across disciplines, identifying areas of opportunity for business students to gain further fintech-related skills. University administrators could consider expanding some elective course opportunities, setting up new tracks for business majors or developing certificate programs for business students to package their additional course experiences for potential employers. Also while business students may feel the impacts of fintech growth most directly in their chosen field, computer science students at Massachusetts public universities may find themselves working for companies providing fintech software or within existing financial services companies doing software design, development and configuration. Academic leaders can begin -- or expand -- a process of assessing current coursework and degree paths, potentially creating new prerequisites or entirely new avenues to degree completion for business and computer science students. By working to understand shifts in the market brought on by fintech and their implications for job skills demand, public universities can endeavor to better prepare undergraduate and graduate students for the future and strengthen one of the core industries of Massachusetts.
Pioneer Institute for Public Policy Research. 185 Devonshire Street, Boston, MA 02110. Tel: 617-723-2277; Web site: http://www.pioneerinstitute.org
Publication Type: Reports - Evaluative
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Pioneer Institute for Public Policy Research
Identifiers - Location: Massachusetts
Grant or Contract Numbers: N/A