A. Gostatuto g. 40-1, Vilnius, LT03163, Lithuania
Fintech is the sector that has been developed to optimize money management for individual and corporate stakeholders. But is the core meaning of this term as clear to outsiders as it is to the participants of the financial sector?
Turns out, not that many high school students would be able to clearly explain what fintech is and its basic operation mechanism. The buzzword is well-know as it is currently present pretty much in every media outlet you can get access to, yet the actual spiel remains a mystery.
Bringing the focus back to the next generation, it is important for kids that have been raised in the digitized world to be educated about fintech in order to take advantage of the opportunities it brings along. Fintech has the capacity to bring major disruptions into daily, as well as professional lives of the next gen, and this fact shouldn’t be discounted.
The young ones should be provided incentives to dig deeper into the fintech-related concepts to understand its increasing importance for the world we live in and gain the skills that will be essential to build successful careers in the future.
Those who would probably be best in spreading awareness are the people who are themselves examples of how technology can reshape the life of a modern human being. Encouraging educational programs and incentives should be their main task as fintech ambassadors, who among everything else are aiming for expanding fintech hubs worldwide.
Competition in the fintech sector is growing and it is time to take the upbringing and education of future professionals as the main goal for keeping the accelerating pace of the industry. There is an enormous pool of talent, yet little opportunities to realize it by practicing and improving the existing skills already possessed by the younger generations. Numerous fintech firms all over the world still majorly rely on importing talent or simply outsourcing certain parts of their operation, in order to work with top-level professionals. Yet, given the current political and economic uncertainty that is dominating the global ecosystem, it is a wise choice to consider a plan B: organize programs that would help develop bigger local bases of skilled professionals that will be ready to enter the fintech pipeline at any time and bring a valuable contribution.
In particular, companies should consider educating and recruiting those, who are passionate about social change, as fintech has the potential to create prior unseen mechanisms for serving those, who have prior been excluded. Solving the problems that countries and entire regions have been unable to tackle for years can be done through reforming the existing structures through the integration of modern technologies.
Global cooperation in increasing fintech educational efforts, starting from school age, will help upgrade data sharing and analysis and, therefore, better understand the possibilities of the future that are still waiting to be explored in creative ways.