Fintech Certificates: What You Need to Know
The field of financial technology, usually abbreviated to fintech, is growing rapidly. As technology continues to evolve, it will play a major role in the way payments are sent and received. Security, speed, processing power and reliability are all important. As a result, anyone looking for a growing, burgeoning field to start their career should consider fintech.
Although these companies are constantly hiring, people have to do what they can to be competitive to get a job in this field. One possible way to do that is to earn a fintech certificate or degree.
What is a Fintech certificate?
If you want employers to seriously consider your application, you need to demonstrate strong knowledge in the field. That’s where a fintech certificate can come in handy. This program will provide you with a specific set of skills that you can use at the intersection of technology and economics. There are some classes that have a relatively narrow focus, giving you a unique set of skills that can make it easier for you to compete for a job. For example, maybe you are interested in a boot camp on blockchain or other business models. There are also certificates that can give you a broad knowledge base that shows that you have a working understanding of the technology behind fintech.
Of course, there are many certificates that exist somewhere between these two extremes. You may feel like you’ve learned enough about this field on your own, but it’s still important to get a certificate or degree to demonstrate to financial institutions that you’re committed to the field and have the knowledge to get the job done.
What makes a good Fintech certificate?
When exploring available fintech education options, how do you know which ones are right for your needs? Some of the factors to consider when assessing the strength of a specific fintech certificate include:
1. The strength of the brand name
Just as you might consider a traditional graduate program, it is important for you to think about the strength of the brand name. The whole reason you complete a fintech certificate is to help you get a better job when you graduate. Therefore, you should consider the strength of that brand name in your chosen field.
What do companies think about the specific certificate? Do they feel the certificate gives you skills that will make you valuable to the company? You must ensure that the certificate program will make it easier for you to get the job you want after completing the program.
2. The quality of the courses
In addition to increasing your appeal to potential employers, the certificate program should provide you with skills that you will actually use. While the theory behind fintech can be interesting, you want to make sure the skills it teaches are applicable to the job you want. So how do you rate this factor?
You need to consider what others have said about the specific certificate program. Do they feel that the program taught them different skills that were useful for their workplaces? If others have had good experiences using the skills they’ve learned, there’s a good chance you will too.
3. Time and costs
If you want your career to progress, you need to invest your resources. This means that you have to spend a combination of time and money. Of course, you need to consider the cost of the program. Compare that to the cost of similar programs and make sure you feel like you’re getting a fair price for becoming a certified fintech professional.
Consider how long it will take to complete the program so you can decide how much time you are willing to spend on a certificate program. For example, some certificate programs may only take a few months, while degree programs are more in-depth and take longer.
When trying to calculate the value of your invested time and costs, don’t forget to take into account the future growth of your expertise and career. Some certifications or graduate classes can transfer value to future education, if you decide to pursue a degree in the future. These programs may require a larger upfront investment, but they pay off over time.
4. The ability to network
Be sure to consider the quality of the instructions as well. Do the teachers have a background in the fintech industry? You want to be taught by professionals with experience from the fintech world. That way, they can explain to you exactly how the themes will be used in the industry. There’s a chance you’ll even interact with faculty or alumni who have strong ties to the industry, creating relationships that can help you get your foot in the door and compete for some of the best jobs out there.
CAFCA certification
A popular fintech certificate is called CAFCA, which stands for Certified AML (Anti-Money Laundering) FinTech Compliance Associate. This certificate program shows that you have a strong foundation that you can use to identify and prevent financial crime. It was developed by financial professionals at ACAM and covers key fintech compliance principles, risks and features.
With this certificate, you will learn how to perform various tasks related to financial compliance, validate your knowledge with a recognizable certificate and put yourself in a position to advance your career.
What skills do Fintech certificates teach you?
Because there are so many certificate programs available, you need to consider which ones are right for your needs. Most certificates will focus on a specific area, including:
- Creating new fintech platforms
- Regulations relating to fintech
- Legal tools you can use to interact with government regulators
- Machine learning that makes it easier to build protocols that control machines and analyze data
- Security issues
- Initial Coin Offering
You need to think about what you want to do as part of your future career and you should review certificates that can teach you the skills you need.
Is Fintech certification required?
While fintech certification can be beneficial, not all employers require it. There are many other ways to learn the skills you need to become a successful financial services and technology professional. For example, you could go back to school to get a higher degree in fintech.
Earning a fintech certificate or degree can help you stand out from the crowd and augment your existing skills. A recognizable certificate gives you a better chance of being hired. You simply need to make sure that the education you receive is worth the time and money you invest.
Fintech certificate vs. Degree
If you’re serious about landing a job in fintech, you need to demonstrate to a potential employer that you’ve invested time and effort into learning the skills you need. That’s why you should consider going back to school to get a degree instead. A degree can offer more formal recognition, structure and even room to grow. Some students have found that they start with the fastest certification they can find, only to return for additional certifications or a degree as their career progresses. It is important to take a closer look at some of the major differences between a fintech certificate and a fintech degree, including:
The knowledge learned
One of the main differences between a certificate program and a degree is that a certificate program usually focuses on a relatively narrow set of skills, while a degree program will give you a much broader and deeper knowledge base. You simply learn more on a course, and employers will understand that. If you really want to learn everything you can about fintech, consider getting a degree.
Industry recognition
A degree is generally held in higher esteem than a certificate. Although there are some colleges and universities that offer certificate programs, degrees from colleges and universities will immediately jump off the page. Regardless of whether you’re earning an associate’s, bachelor’s, or master’s degree, a program of study will simply make a greater impact on a potential employer.
The time commitment
Finally, you have to think about the time commitment. In general, any certificate program can take anywhere from a few weeks to a few months, while a degree program will take a few years. Degrees also come in many shapes and forms; while some are faster to complete than others, they will typically take longer than a certificate program to account for the additional knowledge, skills, and experiences provided.
Expand your Fintech expertise with a Fintech Graduate Degree
If you want to increase your financial technology expertise, you should do so with a graduate degree. At Keizer University, we are proud to offer a variety of degree programs, including a master’s degree in fintech. If you want to learn more about how our degree can help improve your career, request information about our fintech program today!
