Augustana University is launching its first financial technology program in the region

Augustana University will launch its newest academic program, the Augustana University Fintech Program by Pathward™, in the fall of 2023. With the support of Augustana’s key strategic partner, Pathward™, NA, (formerly MetaBank, NA), the major will be the first of its kind in the region .

Dr. Raymond Leach, assistant professor of computer science and business administration, has been named the first director of the Augustana University Fintech Program by Pathward.

“Dr. Leach is an amazing teacher,” said Dr. Colin Irvine, Provost and Executive Vice President. “He is able to convert problems, opportunities and ideas into curricula that are experiential, taking data sets, issues and problems from these intersecting fields and converting them into open-ended, authentic student learning experiences.”

Prior to Augustana, Leach served as a research assistant at the Claremont Institute for Economic Policy Studies and instructor of statistics at California State University, Los Angeles. Leach received a Ph.D. and Master of Arts in Economics from Claremont Graduate University and Bachelor of Science in Economics and Statistics from the University of Wisconsin-La Crosse. He also received a certificate in machine learning from Stanford University.

“Fintech is the use of technology to make financial services better, faster and more convenient,” Leach said.

Fintech consists of four verticals or specializations: payment rooms or the process of transferring money electronically; lending, which includes peer-to-peer and microloans; asset management or optimization of portfolios, as well as the purchase and sale of shares and assets; and blockchains, which are public ledgers of cryptocurrency transactions that exist across a network.

The Augustana University Fintech program at the Pathward major will be interdisciplinary; students must take courses in accounting, finance, informatics, statistics and economics. Students will also complete an internship arranged by Augustana with local companies.

In addition, Leach developed three courses specific to the program – the introductory course, Principles of Fintech, will be an overview of the four verticals. The other courses, Financial Institutions and Banking as a Service, will take an in-depth look at the functions of commercial banks, regulation of banking services and new banking technologies.

“The program is going to immediately stand out and appeal to students looking for practical knowledge that applies to the workforce,” Leach said. “The skill sets and the tools we’re going to be able to teach them — the specific pairing of computer programming and data analytics, and the subjects specific to fintech, along with internships — are going to be huge.”

As a bank that has relationships with many fintechs through its Banking as a Service strategic business line, Pathward said it is excited about the opportunity to partner with Augustana and provide students with the opportunity to learn about the banking and payments industry.

“Sioux Falls has a strong banking and fintech presence,” said Pathward’s executive vice president of governance, risk and compliance Sonja Theisen. “With Augustana’s proximity and reputation for producing high-quality graduates, the program is a natural alliance.

“The fintech and banking segment has many opportunities for talent development and growth, and Augustana Fintech students will be well positioned to take advantage of these opportunities. With the knowledge and confidence they gain through the program, we expect them to hit the ground running after graduation.”

The Augustana University Fintech Program by Pathward is supported by a team of companies serving on an advisory board – MarketBeat, The Bancorp, CAPITAL Services, Goal Solutions, PREMIER Bankcard and Central Payments, as well as Pathward.

The first Augustana University Fintech Program of the Pathward course will be offered in the fall of 2023, and the first cohort is projected to graduate in 2027.

To learn more about the program, visit augie.edu/fintech.