A new Master’s Degree in Financial Technology (Fintech) is to be launched at the University of Strathclyde to support the digital transformation of Scotland’s financial sector.
The MSc in Financial Technology will give students the skills required to help companies accelerate transactions and enhance security — and further establish Scotland’s position in financial innovation.
According to Scottish Financial Enterprise, financial services in Scotland employ 100,000 people directly and the same again indirectly, generate £8 billion for the Scottish economy, manage £800 billion of funds — and account for 24% of all UK employment in life assurance and 13% of all UK banking employment.
The launch of the new course comes after research by Strathclyde University’s Centre for Financial Regulation found Fintech has the potential to create 15,000 jobs in Scotland over 10 years.
The intensive 12-month course starting in September 2017 will combine a core academic curriculum with the entrepreneurial and innovative elements of Fintech, including financial method, data analytics, regulation and the applications of technologies such as blockchain and distributed ledgers.
The new course will be run by Strathclyde Business School, named the UK’s Business School of the Year by the Times Higher Education in November.
Students will be taught by staff from Strathclyde’s Department of Accounting and Finance — which was first in the Complete University Guide Subject League Tables for 2016 and 2017 — and the Department of Management Science.
Daniel Broby, Director of Strathclyde’s Centre for Financial Regulation and Innovation, said: “Fintech is developing rapidly, utilising software and programming code in innovative ways.
“It is driving efficiency up and costs down and the digitalisation of transactions is now a cross- disciplinary science.
“The Scottish financial sector needs to capitalise on Fintech or miss out.
“Our new course will equip students with the essential skills and knowledge for a career in this field; it combines theory, intensive practice and industrial engagement.”