FinTech to rule the job market in India with 87 percent adoption of FinTech services

April 30, 2022 23:30 IST | ANI Press Release
Tennis player James Blake
FinTech training with Manipal Global Skills Academy

Bengaluru (Karnataka) [India], April 30 (ANI/NewsVoir): The Banking, Finance Services, and Insurance (BFSI) industry have taken a quantum leap in transitioning to FinTech products and services. This includes an accelerated adoption to go digital and contactless owing to the pandemic and the consequent lockdown.

India's digital payments swelled to 25.5 billion in real-time online transactions in 2020. Today, FinTech applications and services have captured a large unbanked population under the financial net and prompted the masses to transition digitally. India currently includes the highest number of FinTech adopters globally - 87 per cent against the global average of 64 per cent. With new businesses springing up and global investors pouring in, the market is estimated to grow to USD150 billion by 2023.

However, this rapid evolution has focused attention on the growing disparities between academic learnings and the real-time skills required today. This gap is projected to grow considering the increasing pace mismatch between industry and academia.

Research today shows only 2.5 per cent of engineers in India possess artificial intelligence skills, while only 5.5 per cent are qualified with basic programming abilities. These statistics project a bleak figure of only 1.5 per cent of engineers in India being fit for new-age jobs. 63 per cent of companies in India report a shortage of talented employees, mainly in IT, engineering services and sales.

While the job market for engineering graduates with specific tech skills has exponentially grown, the current fresher falls short of key skill requisites in leading Indian tech enterprises and MNCs. Employers today are looking for fresh talent with knowledge beyond basic coding. The desire for domain-specific skills like Data Architecture, Analysis, AI, APIs, Full-Stack Development, and more are now primary. This is coupled with a focus on soft skills like communication, presentation, research, attention to detail, and business writing.

A few pedagogy head honchos have taken the onus to lead and create pathways to FinTech success by bridging the divide between industry and academia to address this gap. Manipal Global Skills Academy is one such industry player.

With a legacy of over sixty-five years of education expertise in India and overseas backing its efforts, Manipal Global Skills Academy aims to empower learners and professionals with the right tech skills needed to excel in their careers across FinTech and other tech roles.

Programs curated in unison with industry leaders across BFSI and other national and global repute institutes. Manipal Global Skills Academy's unique proposition of hiring talent before training them focused on the company's requirements ensure an individual is geared with best-in-class knowledge and skills to be first day productive in their new FinTech role.

These client-centric industry programs are designed by experienced BFSI educators with immense corporate and faculty experience. The candidates are offered a provisional placement letter before onboarding and program kick-off.

With Manipal's focus on empowering learning and transforming lives with continuous upskilling, Manipal Global Skills Academy (MGSA) offers courses for freshers and professionals alike.

The School of FinTech offers Full-Stack FinTech courses training for end-to-end services like maintenance & regulation, innovation & transformation, payments, programming, product development, Block-Chain, Reg-Tech, Wealth-Tech, AI, ML, Algo-Trading, and more to ensure an MGSA certified developer is at the forefront of digital disruptions.

Leading BFSI institutions like the National Payments Corporate of India (NPCI), makers UPI, NFS, IMPS and RuPay are looking to hire & train over 200 Fresher Full-Stack Developers through Manipal Global Skills Academy to bring talent that will innovate and scale the retail payment systems in India.

Indian finance players like Axis Bank, HDFC Life, and Care Insurance are looking to leverage fresh tech talent to achieve great efficiency and scale in payments, operations, and interactions that lead to customer delight. Building to scale in FinTech these companies are looking to employ from the MGSA talent pool for robust growth.

Robin Bhowmik, Chief Business Officer, Manipal Global Education Services comments, "The FinTech wave has disrupted BFSI as an industry, bringing to shore innovation, growth, and scale in how business is conducted. While technology is evolving every day, it is essential to hire and train tech professionals to robustly contribute to the evolution with the best-in-class skills. Manipal Global Skills Academy is that hub for skilling and sourcing of the best job-ready tech talent available in the industry today."

With India's economy projected to grow at 8.2 per cent, Manipal Skills Academy is geared to upskill and upscale careers on an upward trajectory for both businesses and individuals. With impressive hiring, training, and deployment of talent in 2021-22, the School of Fintech is keen to grow multi-fold in 2022-23. Currently looking for over 500 freshers in FinTech alone.

To know more about a career in FinTech and apply to get hired and trained by MGSA in tandem with leading FinTech institutions in India, visit (www.manipalskills.com)

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)


Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor