Digital Transformation

A term best describing the past decade would be ‘digital transformation’. It is the digitisation or implementation of digital technology to a business, organisation, or a brand, to name a few. In FinTech, digital transformation technology simplifies processes and yields efficiency. The following technologies are often implemented in business and organisations alike.

Hybrid Cloud

Hybrid cloud computing involves the mechanism of linking private clouds, public clouds, and on-premises technology to form a unified, easilyaccessible environment. This reduces storage costs and scales down into hybrid cloud-focused solutions, allowing businesses to expand to several platforms and not have to sacrifice their user experience following an expansion of their customer base.

Internet of Things (IoT)

The IoT is a network of physical devices connected to the internet worldwide, collecting and sharing data each of them has accumulated. The possibilities for implementing this technology into the FinTech industry are endless, for example, Cash App allows its users to send, receive payments, and buy stocks through a single mobile app.

This mechanism makes way for more personalised and improved customer service, data analysis optimisation, and quick cashless transactions.

Blockchain Technology

Blockchain technology can be used to simplify a range of things, and is the foundation to cryptocurrencies today. It provides a strong and reliable immutable ledger to ensure transparency and security in financial transactions as we transition into Web3.

AI and Automation

Artificial intelligence (AI) has cemented its role in technology as the leading mechanism used in algorithm services. It mimics the way the human mind thinks and translates it into machine language, providing ‘hands-free’ solutions to traditional services. In FinTech, AI allows for benefits such as real-time data updates, stock predictions, and customer insights. AI can also provide a customised interface for every user based on the algorithm.

As digital transformation quickly becomes one of the foundational aspects to a business’ survival, the job market has also expanded to accommodate for this integral change. Employment opportunities from Accenture, EY, Macquarie Group, and AWS are available for recent graduates with degrees in Business, Commerce, Information Systems, Computer Science, or in a similar/related field. Students with strong interpersonal, communication, and leadership skills are highly valued and are encouraged to apply for the following roles:

Entry-Level Market

Operations Associate

Digital and Emerging Tech Consultant

Business Development

Associate

Strategy Professional

Technical Business Analyst

In addition, analytical, strategic, product management, and analysis skills are highly appreciated, along with technical skills including DevOps engineering, cloud computing, frontend development, and knowledge in Java, Python, and Typescript.