This course is created for the proposed new major in Fintech (Financial Technology) and will be a required upper-level core course for the major.
With the growth in technology in recent years, the field of Finance has expanded to take advantage of that technology and a new sector has emerged, called Fintech. Fintech is a diverse sector that includes digital banking, mobile payment gateways, point of sales system development, cryptocurrencies, personal finance, business-to-business and business-to-customer transactions, and investing. The entire financial industry is undergoing a major digital transformation, increasingly incorporating technology into its operations, service, and product offerings.
The Finance Department currently offers majors in Finance and Financial Planning, but the Finance Department currently does not train students for positions within the Fintech industry, which requires a solid understanding of technology beyond what is currently offered. For this reason, the Finance Department is proposing a new major in Fintech, in which students will acquire a strong foundation in the field of finance, while also acquiring the technological, analytical, and programming skills necessary for to work in the Fintech industry. Fintech majors will have a strong understanding of traditional finance, as well as Fintech, and they will become technologically proficient by taking courses in programming, machine learning, data science, and data analytics. By combining a strong background in finance with these technological skills, the Finance Department expects the graduates will be well-positioned to take positions within the growing Fintech industry. Employers of Fintech majors will include commercial banks, investment banks, brokerage firms, investment funds, insurance companies, payment-processing firms, credit card companies, and alternative credit providers, among others.
The proposed major will fill a void in the business school education landscape, as fintech degree programs housed in AACSB accredited colleges of business nationwide are at their infancy, with only three programs in the country. By offering a Fintech major, the U. of Delaware will take a leading role in providing educational opportunities for students to enter the Fintech sector. This aligns well with the goals of the Fintech Innovation Hub at U. of Delaware, which was created to help position Delaware as a Fintech leader in the coming years.