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New Zealand Develops New Fintech Programme to help Embrace Disruptive Technologies

The COVID-19 issues have expedited the use of fintech in the banking industry. The coronavirus has had a significant influence on New Zealand’s financial sector and economy, according to fintech experts. While the effects have begun to be felt, it is unclear how long they will persist or in what form. The virus can cause havoc in the fintech industry in a variety of ways.

The global economy is being transformed by new finance-based technology and innovative initiatives. Banking, investment, and commerce are becoming increasingly data-driven, with transaction data housed on emerging blockchain systems to back it up. Through mobile payments and money transfers, peer-to-peer lending, fundraising, and crowdsourcing, blockchain technologies are changing workflows, worldwide payments, and economic creation.

The new Master of Fintech and Investment Management degree from Lincoln University in New Zealand connects students to the global financial services industry’s technological disruption. The move to developing financial technology and digital assets, as per the course coordinator, Senior Lecturer, is transforming the banking sector.

The rapid adoption of fintech worldwide has created escalating demand for trained professionals with both fintech and financial analysis skills.

– Course coordinator, Senior Lecturer of Lincoln University

The programme will also cover topics such as the evolving regulatory and legal financial landscape, cyber security and policy challenges, online lending, wealth management, investment management, software development, big data, machine learning, and artificial intelligence. It is suitable for those with a traditional finance background who want to upskill or those who have a bachelor’s degree in completely other fields, according to the senior lecturer.

This course provides hands-on experience in fintech-related organisations through industry placement and builds the groundwork for the globally recognised Chartered Financial Technologist (CFT) professional designation.

OpenGov Asia reported FinTech is becoming increasingly popular, particularly among businesses. It entails automating the delivery and utilisation of financial services to streamline financial operations. From raising money for a start-up, depositing a cheque with the smartphone, online banking, to managing investments – FinTech is expanding at an incredible rate. Similarly, accountants are no longer required to prepare financial statements such as balance sheets and cash flow statements because software can do so in minutes. New Zealand has risen 15 places to number 30 in the Global Fintech Rankings.

As per a FinTech data company report, 2020 was a year in which New Zealand’s financial technology sector expanded globally and financially, capitalising on a surge in demand for technology that improves access to digital finance. New Zealand’s FinTech ecosystem is thriving, and companies are currently looking forward to seeing how the country’s innovative fintech players continue to disrupt traditional financial services.

Governor Adrian Orr, in releasing the November Financial Stability Report, says the country’s financial system’s resilience to the difficulties posed by COVID-19 is heartening given the uncertain waters ahead.

He went on to say that global economic activity is still growing, despite substantial hurdles, owing in large part to the ongoing COVID-19 virus. Already strained asset values are facing headwinds from rising global interest rates as the prospect of global inflation rises.

Fintech investment in New Zealand quadrupled to NZ$ 4.3 billion, according to FintechNZ, making the sector the second-fastest growing in the region. Instead of acting as a deterrent, the country’s geographical isolation has produced ideal conditions for it to serve as a digital incubator. Fintech has been able to thrive thanks to the government’s investment in infrastructure, incubators, and investment funds. Many other fintech is aiming to seize the reins in New Zealand, which has seen one of the earliest fintech grow to a billion NZ$ 8.15 billion corporation.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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