MBA in Fintech: Course, College, Types, Eligibility, Admission, Syllabus, Scope, Salary 2024

Viral Patel

13 min
In this comprehensive blog, you will get detailed information about an MBA in FinTech, which includes course eligibility criteria, syllabus, career scope, salary package and other important things.

MBA Fintech Course Overview

The MBA in Financial Technology, or MBA FinTech, is a new, specialized, multidisciplinary programme designed to equip the future workforce with the knowledge and understanding needed to manage and advance Finance technology.

This programme is intended for recent graduates who wish to pursue careers in finance technology, artificial intelligence, big data analytics, and data science. It is also designed for graduates who want to advance their careers, especially mathematicians, engineers, physicists, computer programmers, business and commerce undergraduates, and other high-tech professionals.

The admission process for MBA Fintech programmes in India is determined by entrance exam scores and merit. Candidates need to have a bachelor's degree in a relevant field of study with at least 50%–60% of the aggregate percentile, as well as results from entrance tests like the CAT, GMAT, XAT, NMAT, and MAT for eligibility.

MBA Fintech programmes are available from renowned business schools in India. Additionally, the range of options for career advancement for MBA Fintech graduates is constantly growing. Prospects can choose from various job opportunities, including Advisory Services, Financial Analysts, Business Analysts, Compliance Analysts, Quantitative Analysts, Data Scientists, Blockchain Experts & Developers, Product Managers, and more.

MBA Fintech Course Highlights

A summary of some of the key elements and details of MBA Fintech courses:

  • Course Name- MBA Fintech (Master of Business Administration in Financial Technology)
  • Degree Level- Master's
  • Duration – Full-time: 2 years and Part-time: 2-3 years
  • Exam Type- Semester-based
  • Minimum Qualification Requirement- Applicants must have earned a 50% or higher grade in graduation from an accredited university in a related field. All applicants must pass an entrance exam (such as the CAT) with a perfect score to gain admission.
  • Average Starting Salary- INR 6-20 lakhs per annum
  • Course Fees- INR 4.5 to 15 lakhs
  • Selection Process- Merit-based + Entrance test
  • Entrance Exams- CAT, XAT, MAT, CMAT, ATMA, GMAT, NMAT and other entrance exams
  • Top Recruiters- CRED, Amazon, UPLERS, Paytm, EC1 Partners, Grizmo Labs Private Limited, ABC Consultants.
  • Career Prospects- Advisory Services, Data Scientists, Financial Analysts, Business Analysts, Compliance Analysts, Quantitative Analysts, Business Development Managers, Risk Control Managers.

Why Choose an MBA Fintech Course?

Fintech, or financial technology, is regarded as a revolution in the economy since it gathers and analyzes data instantly. It has altered how companies, banks and other financial institutions manage their financial services. A Fintech MBA degree combines technology and economic trends to find new ways to improve the financial sector. There are many advantages to earning an MBA in Fintech, and the following are some of the strongest arguments for enrolling in this cutting-edge and popular MBA course.

Booming Sector

Fintech is a booming industry globally. The value of the worldwide FinTech market exceeds 200 billion USD. Due to its growth, Fintech is now a well-liked career option for new graduates. Professionals can start ahead in this fast-paced field with a master's degree in fintech.

Keeping Up with the Latest Technological Advancements

The environment in which we live is one where technology is constantly changing. As a result, it is crucial to keep up with these advancements. Newcomers with no industry experience could pursue Fintech certifications, as could those seeking to broaden their current knowledge and skill set. If you are employed with financial institutions as finance professionals or in other departments, keeping up with the latest Fintech developments is crucial to making more informed decisions.

Dynamic Environment

Leading the digital revolution, the Fintech sector is fostering a vibrant and dynamic work environment. Fintech professionals will have the chance to grow inside the organization and pick the brains of creative thinkers; these leaders are disruptive. People also want to see improvements made to the global money management system, moving society away from the outdated banking practices of the past and towards a more creative and effective future.

Absence of Intermediaries

Technology is automating almost all business procedures, eliminating the necessity for regular human interaction. Since everything in the financial industry is moving towards computerization, taking an MBA Fintech course is necessary to make the most of technology. FinTech and its innovations are the way of the future as businesses depend increasingly on technology and internet tools. The banking industry's role has been reduced by fintech, which is almost ready to replace it entirely.

Career Transformation

Most companies look for applicants who can learn a critical skill to help them grow in their professions. There aren't many people in the market with an MBA in Fintech because the concept is still relatively new. Understanding Fintech can aid them in making better choices and support the organization's success. Companies consider an MBA in Financial Technology a valuable skill that can provide them an edge over other applicants for the same job.

FinTech Employment and Graduate Positions

Graduates of MBA Fintech programmes have a wide range of employment opportunities and career paths due to the industry's rapid growth. Upon obtaining an MBA in FinTech, individuals can specialize in one of the most innovative areas of finance by learning about Big Data, blockchain applications, digital currencies, and machine learning. Among the top Fintech jobs for graduates are cybersecurity, blockchain, compliance and risk, quantitative analytics, and artificial intelligence. With the evolution of fintech, graduates can now opt to work in various fields like operations, marketing, and sales or tech-focused areas.

Types of MBA Fintech Courses

MBA programmes are offered in many forms, from online degrees that may be finished from home to full-time programmes. Gaining a thorough understanding of Fintech and business is possible with any style of MBA, but which should one choose? An outline of the several kinds of MBA Fintech curricula that are offered is provided below:

  • Two Year Full-Time MBA: One of the most popular programs is a two-year full-time MBA program. A two-year MBA Fintech programme enables students to focus on specific topics while refining their core business skills. Basic subjects, including strategy, communication, finance, and marketing, will be covered in the first year. In second year, during focus periods and elective courses, students will also have the chance to focus on chosen subjects. Additionally, they will have the opportunity to take part in a summer internship, which occasionally results in an offer of full-time employment after graduation.
  • Part-Time MBA: A part-time MBA Fintech programme may be the best option for applicants who wish to pursue an MBA but do not want to take time off from their employment. Working professionals can customize a part-time MBA program's curriculum to suit their schedules. Most students take two to five years or longer to finish their degrees. Alternatively, applicants can engage in MBA FinTech and complete the curriculum with a weekly evening or weekend lecture schedule.
  • Online MBA: Students can complete their degrees from home, anywhere in the world, using online MBA programmes. The same subjects covered by traditional MBA degrees will be taught by the same faculty in online MBA Fintech programmes. However, they also offer the advantage of a flexible learning environment. Like with a part-time programme, students can finish lessons whenever it is convenient for them and study for extended periods of time.
  • Executive MBA: Executive MBA programmes are specifically tailored for mid-career professionals who wish to take on leadership roles. The MBA Fintech programmes demand at least five years of work experience before application since they focus greatly on the experience that each student brings to the table. EMBA programmes offered part-time are usually given on weekends or in the evenings. As they advance in their studies, this enables students to keep working and immediately utilize their skills and knowledge in their businesses.

MBA Fintech Course Eligibility Criteria

Students must fulfill the fundamental eligibility requirements to be accepted into the MBA Fintech programme. Below stated are the eligibility prerequisites:

  • Candidates require a bachelor's degree in BE, B.Tech, BCA, or any similar field from an accredited university with a minimum of 50% - 60% overall.
  • Candidates must obtain a good score on an MBA entrance exam, such as the CAT, XAT, GMAT, NMAT, or MAT.
  • No higher age limit applies to any management programme, including MBA FinTech enrolment.

MBA Fintech Entrance Exams

As mentioned before, candidates' undergraduate degrees and entrance exam scores determine their eligibility for MBA Fintech courses. Some of the most popular entrance exams taken by applicants hoping to study for an MBA in Financial Technology in India are listed below:

  • CAT (Common Admission Test)
  • IGNOU OPENMAT
  • XAT (Xavier Aptitude Test)
  • GMAT (Graduate Management Admission Test)
  • NMAT By GMAC (Graduate Management Admission Council)
  • MAT (Management Aptitude Test)
  • Other Entrance Exams

Note: In addition to a group discussion and personal interview, admission will be determined by the score or rank obtained in the entrance exam.

Admission Process to MBA Fintech in India:

All significant MBA institutes and colleges in India have a four-step admissions process for MBA candidates. Students should be aware that the finest applicants are selected via a stringent screening process used by elite business schools in India.

Step 1: Apply and Register for an MBA Entrance Exam

During the registration window, candidates who want to be considered for admission to prestigious MBA schools should register and apply for the relevant MBA entrance exam (CAT, XAT, NMAT, or GMAT). Registration for the majority of national MBA entrance exams, such as CAT and XAT, closes in September and November, respectively.

Step 2: Take the MBA entrance exam

In order to enroll in a top college's MBA programme focused on financial technology, candidates must pass the appropriate entrance exam—CAT, XAT, NMAT, or any other recognised by universities and business schools in India that offer MBA FinTech programmes.

Step 3: The Procedure for Selection

The majority of the best business schools will shortlist eligible applicants for the next round of admission following the announcement of the MBA exam results. The criteria for this process include exam results, academic standing, diversity, work experience, and other factors based on each B-school's policies. Every college or business school finishes the procedure independently.

Step 4: GD-PI-WAT, Final Admissions Round

A Group Discussion (GD), Written Ability Test (WAT), and Personal Interview (PI) will be held for each shortlisted candidate. Before the PI round, some B-schools also do GD and Extempore, while others conduct GD-PI. Psychometric examinations are also given to students by specific colleges.

After creating the final merit list, admission offers for the MBA Fintech programme will be given out based on their performance in the final selection phase, the weightage assigned to entrance marks, their academic profile and diversity and job experience.

Top MBA Fintech Colleges in India

Following is a list of some of the most prominent and well-known Indian colleges that provide MBA Fintech degrees to students:

  • ITM University
  • D. Y. Patil International University
  • GITAM Institute of Management
  • Indira Gandhi National Open University (IGNOU)
  • IILM University
  • Birla Institute of Technology and Science
  • MIT World Peace University

What is the MBA Fintech Course Fee?

The cost of an MBA in Financial Technology curriculum in India is determined by several variables, such as the institution type (public or private), programme length, programme location, course content, rating, reputation, and goodwill.

The yearly course fees for MBA Fintech programs range from INR 4,50,000 to 15,00,000. One of the most prestigious institutes for MBAs in Fintech is ITM University, wherein the course fee for the program is INR 11,95,000.

MBA Fintech Course Syllabus

The curriculum for the MBA Fintech course differs from university to university. Nonetheless, the general syllabus for this course is as follows:

  • Financial System in India
  • Financial Statement Analysis and Reporting
  • Fundamentals of Data Analytics
  • Financial Information System with Big Data
  • Strategic Financial Management
  • Investment Management
  • Advanced Data Analytics
  • Digital Marketing and CRM
  • Business Intelligence
  • Design and Critical Thinking for Business Strategy and Startups
  • Legal Aspects of Business and Financial Regulations
  • Financial Information Security and Privacy
  • System Analysis and Design and Agile Software Development

Elective Courses

  • Mutual Fund Management and Services
  • Insurance and Risk Management
  • Marketing Analytics
  • Artificial Intelligence
  • Blockchain and Cryptography
  • Data Visualisation and Reporting
  • Cyber Security and Forensic
  • Forex and Currency Derivatives
  • Corporate Governance & Business Ethics

MBA Fintech Scope in India – Career and Job Prospects

The MBA in fintech scope is to close the knowledge gap between management and the latest innovations in financial technology and how they are used in banking, finance, and insurance. It will give students the professional boost they need to reach this rapidly developing area and increase their earning potential.

After completing this course, students can land a well-paying job in one of the growing Fintech startups, banks, or non-banking financial companies. An individual can work in various industries after earning an MBA in Fintech. The Fintech industry has seen exponential growth due to the most recent industrial revolution, and job opportunities have also increased.

Career after MBA in Fintech

  • Blockchain Developers & Experts: A software programmer focusing on blockchain technology is known as a blockchain developer. Blockchain is a publicly accessible approach to storing data. Utilizing blockchain technology, Bitcoin was formed. Blockchain is the business in the Fintech industry with the quickest growth rate.
  • Product Managers: Product Managers oversee the creation and enhancement of services and products related to financial technology. They also guarantee that the developed items satisfy legal and client criteria.
  • App Creators: Using their understanding of programming, app developers build software and applications. The need for new apps and the demand for online banking and payments has increased. App developers work with IT (Information Technology) teams and coders to design a required application.
  • Finance Analyst: Professionals who evaluate an organization's financial performance and overall health are known as finance analysts. They offer advice and insights to help them make better financial decisions.
  • Finance Advisors: Financial advisors help businesses adopt or optimize FinTech systems by offering advisory services. They can work both on their own and with consulting businesses.
  • Finance Executives: Senior individuals managing an organization's finances and strategy are known as finance executives. They are essential to a business or institution's success and financial stability.
  • Financial Planners: Financial planners help people and companies manage their investments, money, and financial objectives. They apply FinTech platforms and tools to their work.
  • Data Scientists: The job of a data scientist is to convert unstructured data into meaningful insights businesses need to expand. These people sort through a lot of data to create the required software.

MBA Fintech Salary

MBA FinTech graduates can expect starting salaries between INR 4.5 lakhs and INR 8.7 lakhs annually, with the possibility of earning INR 23–25 lakhs annually. Pay scales for various job categories will typically vary. Candidates should be aware that this salary is variable and subject to change based on several circumstances. A number of factors, including location, experience, education level, and designation, determine graduate pay. The average starting MBA fintech salary for graduates in India is listed below:

  • Product Manager- Rs. 14.26 LPA
  • Finance Analyst- Rs. 4.89 LPA
  • Financial Advisor- Rs. 4.64 LPA
  • Financial Executive- Rs. 5.25 LPA
  • Financial Planner- Rs. 3.09 LPA

Skills Required for MBA Fintech Course

Fintech is one of the fastest-growing and most sought-after sectors in the world. Emerging financial technologies with the potential to completely change the industry are referred to as fintech. One historical example of how Fintech altered the financial environment is the invention of the credit card. The main goal of modern innovations like Internet banking, cashless transactions, and digital shopping is to increase customer and business efficiency. Fintech software encompasses a wide range of technologies aimed at enhancing and streamlining the usage of financial services.

In order to prepare for their future careers, some of the fintech skills that a person will need both during and after earning an MBA in FinTech are:

  • Knowledge of Artificial Intelligence (AI)
  • Blockchain and Distributed Ledger Experts
  • Machine Learning Applications
  • Data Science in Financial Services
  • DevOps and the Drive for Automation
  • Cybersecurity Expertise
  • Other Soft skills

MBA in Fintech with ITM University

Providing excellent education via a cutting-edge method of instruction has always been the aim of ITM University. By enrolling in ITM University's MBA in Fintech programme, aspirants can enhance their abilities and deep understanding of technology and finance to achieve high academic achievement and successful careers in the future. Academic staff members of the highest caliber, design and execute curricula specifically designed for students at ITM University. The instructors take a fresh perspective on each basic subject as professionals in their domains. Sign up now to get started on the journey of success!

FAQs

What is the future scope of Fintech?

The Fintech sector is expected to grow by 25% by 2024, and it is now growing at an incredibly rapid rate. In the coming years, revenue will probably triple, with India being the second-largest location for Fintech businesses. Fintech is opening up trading, banking, and money exchange to a broader audience, and this trend is expected to continue. Among the top Fintech companies in India are Paytm, CRED, Policy Bazaar, Mobikwiw, Free Charge, Ola Money, ETMoney, PayU, and Zerodha.

What is the difference between an MBA in Finance and an MBA in FinTech?

MBA in Financial Technology or fintech aims to enhance financial businesses using technology. Graduates can find employment as financial analysts, compliance specialists, blockchain developers, app developers, cybersecurity analysts, quantitative analysts, and other roles. In contrast, students interested in a career in financial management might pursue a two-year master's degree called an MBA in Finance. Graduates can find employment as marketing analysts, executive assistants, accounts managers, corporate analysts, and other roles.

Who should pursue an MBA FinTech course?

This course is recommended for those with an interest in technology and finance. They must be imaginative, creative, and flexible enough to adapt quickly to a changing industry. Fintech is an excellent option for people who are prepared to take on challenges and make significant changes for their company. It is recommended that applicants for this degree have prior experience with math and computer science.

What qualifications are needed to enroll in an MBA FinTech programme in India?

A degree in computer science, engineering, physics, or mathematics can be helpful for technical positions. However, business, finance, or accounting programme graduates can also apply for an MBA in Fintech. Candidates require a bachelor's degree in BE, B. Tech, BCA, or any similar field from an accredited university with a minimum of 60% overall. The entrance exam, which usually consists of tests like the CAT, CMAT, GMAT, MAT, and other state or university-level entrance exams, must be passed by candidates.

What role does data science play in the fintech sector?

Financial organizations rely heavily on data science because it allows them to use data analysis to foresee the future. Financial institutions are subject to stringent regulations when using data for business purposes. Not every business can obtain the data they need. Data science can be used by businesses to evaluate risks and prevent fraud.

Is it necessary to understand AI after taking an MBA FinTech course?

AI is undoubtedly present everywhere. It has been an essential prevailing technology, especially in the banking industry. AI even powers automated chatbots; you have probably seen robotic process automation used in claim processing. In a similar manner, AI might offer other options, and these technology features facilitate business operations for financial companies.

Which machine learning applications are used in the fintech sector?

Machine learning is yet another development in the finance services industry. Comprehending the fundamental mechanisms of machine learning algorithms is crucial. Process automation is one of finance's most often-used machine learning applications. Companies that employ process automation can expect faster, more accurate, and more efficient results by doing away with the manual portion of their work.

What are the MBA Fintech Programme's Educational Objectives?

The program's learning objectives include:

  • Developing and implementing data analysis tools and strategies to solve organizational problems.
  • Applying business analytics knowledge effectively.
  • Exhibiting critical thinking abilities.
  • Drawing theoretical and conceptual relationships between contexts, theories, and quantitative and qualitative instruments.

Working with, leading, and involving large and small groups of people who differ in gender, country, area, language, culture, and beliefs is another objective of the programme.

How do fintech certification courses differ from traditional finance or technology education programs?

Potential applicants can better grasp the value proposition of fintech certification courses by being informed about how they differ from traditional finance or technology education. Fintech certification programmes offer specialized knowledge in fields like blockchain, artificial intelligence, and digital payments, with an emphasis on the combination of technology and finance. Fintech courses, in contrast to typical tech or finance programmes, emphasize innovation, regulation, and new trends. This helps students prepare for careers in quickly changing fields where a solid understanding of technology and finance is crucial for success.