New degree anticipated to fill in skills gap in finance industry
The University of Waikato has introduced New Zealand’s first bachelor of banking, finance and technology (BBFinTech) degree, noting this addresses the skills gap in the fast-growing fintech sector.
“The world of finance runs on digital technology. From investment platforms and digital currencies to the way we make payments, nothing happens without digital. Yet no undergraduate degree in New Zealand currently recognises the need for these dual competencies,” said Matt Bolger (pictured), pro vice-chancellor for the Waikato Management School.
"The BBFinTech will fill this critical skills gap. Graduates will help businesses continue to innovate and evolve – whether they are a local Kiwi champion or a Silicon Valley start-up."
Moving toward a cashless future
A 2022 Fintech Insights report, with a sample of 200 New Zealand tech companies, revealed that fintech firms generated a combined export revenue of $1.8 billion in that year. Bolger said the Reserve Bank of New Zealand's investigation into digital currencies also signalled the possibility of a more cashless future.
"We're expecting this area to snowball. Our industry will require more people with these skills in the future, and we are thrilled to see the University of Waikato meeting this need with their new BBFinTech degree,” said Shane Marsh, founder of Dosh and an alumni of the University of Waikato.
"There is a real need for people with fintech skills who can help shape the future of financial services. We need people who understand how open banking, digital currencies and emerging technology will define the future solutions we want in New Zealand and overseas.”
The new degree is expected to equip students with the necessary skills and knowledge in financial markets, investment platforms, digital finance, banking operations, automated trading, blockchains, cryptocurrencies, and cybersecurity, among others.
“There is huge growth potential in this sector, so for students interested in tech who are interested in a career in an exciting sector, this is definitely a path to consider,” said Bolger.
The University of Waikato is ranked number one for business and economics and is included in the top 1% of business schools globally with Triple Crown Accreditation.
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