CAREEROUTLOOK | INDUSTRY OVERVIEW
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E X P L OR I NG T H E F U T U R E O F
F I NTE C H
MUCH IS BEING DISCUSSED IN STEM ARENAS REGARDING THE ADVANCES BEING MADE IN THE FINANCIAL TECHNOLOGY, OR “FINTECH,” INDUSTRY.
The conservative banking industry is being forced to adapt to both millennial lifestyles and an ever- changing landscape of cutting-edge solutions and capabilities that are being introduced by the moment.
Trends and Direction As the FINTECH industry strengthens, several trends will impact and forge new paths of digital innovation in the fi eld. Artifi cial intelligence, global payment and processing options, cybersecurity, cryptocurrency, and data analysis, especially with respect to risk mitigation, will all play signifi cant roles in defi ning the future of fi nance technology. One of the biggest trends affecting the FINTECH industry is blockchain, a leading tool for digital assets software. Kellee James, founder and CEO of the online agricultural commodities trading platform Mercaris, agrees.
“You can’t spend any time at all 40 HISPANIC ENGINEER & Information Technology | SPRING 2018
talking about FINTECH without someone mentioning blockchain. It gets talked about in many circles, but in FINTECH, it’s real. Unlike some of the more far-fetched applications being discussed, blockchain presents some very interesting commercial, real-world applications for the fi nancial sector.
“The problems blockchain is designed to solve are the core problems of FINTECH. Whether you’re talking about clearing functions at an exchange or understanding and assigning a credit risk at a bank, they are all in the heart of blockchain capabilities. Anyone in FINTECH should be well-versed in it, even if they’re not working on blockchain right now.”
Job Options
The technology revolution happening in the fi nance industry will mean more job options available for STEM professionals. The move toward independent access and options for global payments will pave the way for increased experimentation in mobile technology and app development. And because technology is changing the way big banks do business, many are making huge strides in modernizing IT infrastructures.
“The outlook is bright for FINTECH,” Kellee explained. “My roles at the organizations I’ve worked at and founded have tended toward business development and economic analysis.
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