IIM Calcutta and TalentSprint report growing aspiration among Professionals for FinTech expertise
Tue, Sep 10, 2019
September 10, 2019. Kolkata: The Indian Institute of Management, Calcutta (IIM Calcutta) and TalentSprint released an analysis report on the aspiration factor for FinTech expertise among professionals. The report is based on data collected from 1500+ professionals across 700+ companies. Detailed analysis of the data provides interesting insights.
- Demand for building FinTech expertise was highest among professionals from Mumbai, Delhi, Bengaluru, Kolkata, and Hyderabad
- 78% of the professionals aspiring to build FinTech expertise are in leadership and managerial roles indicating adoption at senior management level
- More than half the professionals seeking to build FinTech expertise are from Banking and Financial Services, indicating that it is the most disrupted industry
- 20% of the demand for FinTech expertise comes from professionals in the IT and Consulting industry indicating that they are driving the disruption in BFSI
- Professionals with over 10 years of experience seem to understand the disruptive impact of FinTech the most and are highly motivated to ride the FinTech wave
According to Ernst & Young, India leads in FinTech consumer adoption by 87%. KPMG reports that the Indian FinTech Software sector is poised to touch $2.4 billion by 2020. Not surprisingly, Gartner predicts that banks will irrelevant by 2030. Given this backdrop, over 50% of the professionals seeking FinTech expertise come for the Banking and Financial Services Industry, which is the most disrupted. Also, the willingness to invest in this deep tech learning cuts across functional areas such as finance & accounting, business development, consulting, sales, wealth management, product management, and trading.
IIM Calcutta in association with TalentSprint launched an Advanced Programme in FinTech and Financial Blockchain in May 2019, to cater to this rising FinTech market by helping professionals build expertise. The key modules include Digital Payments, Risk Management, Digital Disruptions, Financial Analytics and Financial Blockchains. The first batch has enabled 100 professionals already and the next batch has been announced for Jan 2020 announced.
Speaking on the occasion, Prof Indranil Bose, Programme Director, said: “India has the potential to be a global FinTech capital. The diversity of talent in our first cohort, as well as the insights from the report clearly indicate that even global professionals are looking to India to build their FinTech expertise. We anticipate that the future cohorts will see an even greater mix of domestic and international talent, who learn from and collaborate with each other.”
Addressing the growing demand, Dr. Santanu Paul, Founder and CEO of TalentSprint, said: “As a company focused on executive deep tech education, we identified the need for FinTech expertise among professionals. The insights in this report further validate this rapidly growing need. Our partnership with IIM Calcutta is designed to amplify India’s FinTech potential. Together we aim to equip 2000 professionals with the required expertise in 3 years.”
For more information on the report: Click Here
About IIM Calcutta
The Indian Institute of Management, Calcutta was established as the first national institute for Post-Graduate studies and Research in Management by the Government of India in November 1961 in collaboration with Alfred P. Sloan School of Management (MIT), the Government of West Bengal, The Ford Foundation and Indian industry. The vision of the Institute is to be an international centre of excellence in all facets of management education. Over the past four decades, IIM Calcutta has blossomed into one of Asia's finest business schools. It now has an enviable reputation for imparting high quality management education to some of the best minds in the country. It has been playing a pioneering role in professionalising Indian management through its postgraduate and doctoral level programmes, executive training programmes, research and consulting activities.
TalentSprint brings high-end and deep-tech education to aspiring and experienced professionals. It partners with world class academic institutions and global corporations to develop and offer disruptive programs. TalentSprint's hybrid platform delivers unique onsite and online experiences that help build cutting-edge expertise, for today and tomorrow. For more information please visit www.talentsprint.com.
For further information please contact:
Sridhar K, Chief Digital Officer, TalentSprint
Subhra Dhar, Manager – LDP Executive Education, IIM Calcutta
Arunima Lahiri. Candour Communications