Culture and Talent

How MBA programs are teaching financial technology

  • This fall, two large institutions will add financial technology courses to their curriculum.
  • Educators say the changing field demands a broad approach that gives students the tools to adapt.
close

Email a Friend

How MBA programs are teaching financial technology
On Master of Business Administration syllabi this fall: Financial technology. Universities across the country, including Stanford and Georgetown, will begin to offer courses in the subject this fall, joining a league of other schools that have launched courses and degree programs in the field over the past couple of years. These include Brandeis, NYU's Stern School of Business, Columbia Business School and MIT. The challenge educators face is trying to keep the curriculum fresh in a fast-evolving field, especially when training in one type of technology may be irrelevant by the time a student graduates. As a result, MBA schools are taking a broad approach, opting to prepare students to adapt to changes in the market. "There are two big struggles in teaching anything new and nascent -- one is what does fintech even mean, and the second thing is how the industry is evolving and how to be agile with course developments," said Angela Lee, associate dean and chief innovation officer at Columbia Business School. Lee said the school has focused on a combination of broad training rather than training on specific tools, while trying to partner with the industry when possible. "A deep dive in bitcoin is less useful than a deep dive on alternative payments," she said. The school's collaborations with industry will kick off this fall with a new collaborative program with Citi Ventures that will let Columbia MBA students get hands-on experience building new business ideas from the ground up. A wider focus is also underpinning Stanford Business School's approach to the subject. The school will offer a financial inclusion course for the first time this fall for its MBA students, an approach professor Kenneth Singleton said will address the social and economic circumstances that drive financial inclusion issues in the U.S. "We're going to be focusing on financial inclusion across the entire socio-economic spectrum, but a lot of it will focus on the development of new products that will enhance the financial capability of individuals and households," he said. The challenge he hopes to address during the course, he said, is how develop a product that's true to its social mission but can also scale and be profitable. "In this sphere, it's extremely important that one understands one's target audience and the essence of the friction or problem one is trying to mitigate or solve -- some of the most successful consumer-oriented startups are those that were started by people who recognize a problem from their own experiences and set out on a creative way to do that." Those in the field like the approach. "We've talked to a number of professors who are putting these classes together, and they're approaching us about different trends or how we should be contextualizing what's happening in fintech -- forget the specifics of an innovation or product -- that kind of discussion is super relevant," said Ryan Falvey, managing director of the Financial Solutions Lab at the Center for Financial Services Innovation. The Center runs a JPMorgan Chase-backed accelerator program for up-and-coming startups. The problem is going beyond theory. Jobs in the field require an understanding of the backbone and plumbing of the technology. Falvey said startups in fintech need people with technical talent, but these programs focus on people in business.

0 comments on “How MBA programs are teaching financial technology”

Culture and Talent

Gen Z covets careers in finance over any other industry

  • Gen Zers are now thinking about climbing the corporate ladder and finance is their preferred career choice.
  • Job stability is the top priority of Gen Z college graduates, followed closely by high paying salary.
Sara Khairi | August 25, 2023
Day in the Life

From hazardous material engineering to running Truist Foundry: A day in the life of Lindsay Holden, head of Truist Foundry

  • Many paths can lead to a career in financial services. Head of Truist Foundry, Lindsay Holden's journey began as a hazardous materials engineer.
  • Craving work that gave her more flexibility, Holden eyed entrepreneurship and eventually built Long Game, which was acquired by Truist last year and relaunched as Truist Long Game.
Rabab Ahsan | June 27, 2023
Day in the Life

Embracing unpredictability: A day in the life of Sung Hae Kim, Chief People Officer at Kueski

  • What’s it like working at the largest Mexican BNPL firm while living in the US?
  • From unpredictable workdays to outdoorsy weekends, here’s a day in the life of Sung Hae Kim, Chief People Officer at Kueski.
Ismail Umar | February 14, 2023
Banking, Culture and Talent

Bank branches are getting a facelift. What are smart branches?

  • From opening cafés to building community centers, bank branches are changing.
  • Big names like Capital One, Bank of America and JPMorgan may be spearheading the branches of the future.
Rabab Ahsan | February 02, 2023
Day in the Life

‘Product managers wear a lot of hats’: A day in the life of Melissa Manne, managing director of digital channels at Chase

  • The past few years, Chase has been zeroing in on its digital offerings. Leading innovation across digital experiences is Melissa Manne.
  • As managing director of digital channels, Manne focuses her energy on strategy, empowering her team, and staying in sync across the organization.
Rivka Abramson | January 24, 2023
More Articles