Have you ever considered stepping out of your home without your wallet and still being able to spend an entire day making online payments with your cell phone? This financial mode of transactions would have been unthinkable in the 1990s. However, it is now a reality thanks to the evolution of technology and its integration with financial institutions, known as FinTech.

The rise of financial technology, or FinTech, has transformed the financial sector. FinTech combines economics, business, and IT to create innovative solutions. Key advancements include blockchain, cryptocurrencies, AI-driven services, etc.

As the demand for skilled professionals increases, an MBA in FinTech has become a lucrative career option. It provides the necessary expertise to manage this evolving landscape. Traditional finance degrees may not meet current industry needs, especially as millennials increasingly engage with FinTech. This blog will explore how an MBA in FinTech from IIM Sambalpur can prepare you for promising career opportunities after earning your FinTech MBA.

What are the unique course offerings?

1) MBA in FinTech Management Program

The Indian Institute of Management (IIM) Sambalpur launched its MBA in FinTech Management program in 2022. The program was developed in collaboration with the NSE Academy to address the increasing demand for skilled professionals in the financial technology sector.

The IIM Sambalpur program is ideal for individuals looking to enhance their expertise and progress in FinTech and its various domains. It is designed to train students to start their journey as entrepreneurs or intrapreneurs in the blooming FinTech ecosystem. Whether their goal is to lead innovative FinTech startups, shape corporate strategy in established corporations, or influence policy decisions in regulatory bodies, this program equips them with the skills, knowledge, and network necessary to succeed in a dynamic and complex business environment.

Program Objectives

This program is ideal for individuals who want to deepen their expertise and advance their careers in FinTech and its fields. It aims to train and create new-age entrepreneurs and improve intrapreneurs’ skills to facilitate the growth of the FinTech ecosystem. The features below are the program highlights.

2) MBA in FinTech Management – [Dual Degree]

The rapid expansion of the FinTech sector in India and globally has revealed a significant shortage of high-quality training programs to prepare future leaders in this field. The dual degree program offered combines the expertise of IIM Sambalpur and Sorbonne Business School in Paris, providing students with a unique educational experience. 

IIM Sambalpur, in collaboration with Sorbonne Business School, offers students a unique opportunity for top-tier Indian and international education. Sorbonne consistently ranks among Europe’s best, 59th in the QS World University Rankings for 2024. This program is designed for individuals seeking Indian and international exposure. Students who complete the program successfully will earn an MBA in FinTech Management from IIM Sambalpur and an MBA in Financial Management from Sorbonne Business School.

Program Features:

• The program comprises 17 courses totalling 950 hours (95 credits) over three six-month terms. 
• It includes an immersion experience at Sorbonne University in Paris, with intensive finance training and hands-on projects for one to two weeks. 
• Graduates receive alumni status from IIM Sambalpur and Sorbonne University. With mentor support, they also gain entrepreneurial training for FinTech startups through the IIM Sambalpur Incubator and the International Incubator in Paris. 
• Participants will engage with industry council members and academic peers from both national institutions and Sorbonne University. 
• Training will be available offline and online from international faculty and experts.
• Additionally, it incorporates a dedicated incubator training initiative that provides mentorship and support through an international incubator in Paris, helping students launch their FinTech startups.

Risk Management Certification and Valuation Training

The program includes RIMS-CRMP (Certified Risk Management Professional) certification and valuation training, conducted in collaboration with the Risk Management Society, USA, and the Institute of Mergers, Acquisitions, and Alliances (IMAA) to enhance global mobility and reputation.

CEO Immersion Program

In the sixth term, students engage with CEOs and top executives from Indian MNCs, corporations, startups, and PSUs. This program emphasises trust-building and strategic planning to address today’s volatile business environment. Past events featured leaders from companies like Hindalco, Mahindra, Deloitte, and Flipkart. 

Mini Dissertation

In their second year, students complete a mini-dissertation to evaluate their research skills and domain understanding. This project includes objectives, problem statements, methodologies, findings, and implications.

International Immersion Program

IIM Sambalpur offers an Immersion Program with international partner institutions to enhance cultural sensitivity and global business perspectives. This program lasts one to two weeks, includes classroom sessions and an industry visit, and features an evaluation mechanism. Students can choose between immersion at Sorbonne Business School in Paris in the dual degree program or completing a research project of equivalent hours in India.

The curriculum provides students with essential knowledge in finance and technology necessary for FinTech. Some of the subjects are listed below.

Block Chain and its Applications

The course Blockchain and its Applications in an MBA FinTech program examines the transformative potential of blockchain technology—a secure and decentralised digital ledger—in the financial services sector. It provides students a foundational understanding of blockchain’s core principles and diverse FinTech applications.

AI, ML and Its Application

AI, ML, and Their Applications course in an MBA program in FinTech examines how artificial intelligence (AI) and machine learning (ML) transform the financial services industry. It gives students a fundamental understanding of these technologies and their practical applications in FinTech.

Fintech: Regulatory Policy

The FinTech Regulatory Policy course in an MBA program examines the legal and regulatory framework of the rapidly growing financial technology industry. It highlights how governments and regulatory agencies are adapting to advancements in services like digital payments, blockchain, and AI-driven lending.

Placement Opportunities with IIM Sambalpur 

The 8th MBA batch of 2022-2024 at IIM Sambalpur has completed its placement cycle, with 192 students participating. This year, there was a notable 23.48% increase in the number of recruiters. Among the prominent companies participating in the placement drive are Vedanta, Micron, Adani, and key financial institutions such as ICICI Bank and HDFC Bank. Consulting firms, including Accenture, Deloitte, and PwC, played essential roles in the placements, while Tata, Tata Power, Cognizant, and Gartner also made significant contributions in their respective sectors. Other influential companies such as Lenskart, Dell Technologies, Jindal Steel & Power, and Axis Bank have also impacted industry trends.

Understanding the FinTech Landscape

The story of FinTech in India began in the early 2000s when the first online payment gateways and digital wallets were introduced. Since then, the landscape has significantly transformed with the rise of digital payment platforms that promote cashless transactions. The Unified Payments Interface (UPI) in 2016 marked a significant turning point. The UPI enabled seamless peer-to-peer transactions and was the backbone for many FinTech innovations.

Fintech simplifies financial services by breaking them into user-friendly components, enhancing efficiency and lowering transaction costs through technology. This shift has significantly disrupted traditional sectors like banking, trading, and financial advisory services, which were once primarily accessible through in-person channels and desktop platforms. Now, a wide range of financial products is more readily available on mobile devices, reflecting a major change in how consumers interact with financial services, as shown below.

• Peer-to-peer lending solutions enhance access to credit by connecting borrowers and lenders directly. 
• Robo-advisory services provide automated investment guidance, making it more accessible for individuals to invest. 
• Technology-driven insurance platforms simplify the buying process and streamline claims settlement. 
• Additionally, neo-banking services cater to the specific needs of businesses and startups, offering features like expense management and corporate cards. 

The statistics below indicate a promising future for aspiring entrepreneurs and professionals in the FinTech industry

Source: IIM Sambalpur

India’s FinTech sector is experiencing remarkable growth, showcasing advancements in Payments, Digital Lending, InsurTech, and WealthTech. The country’s FinTech ecosystem illustrates its capacity for innovation and flexibility, establishing itself as a prominent player in global financial technology. According to a study by the World Economic Forum, India stands out as a key location for a flourishing FinTech hub. Whether your ambition is to spearhead groundbreaking FinTech startups, shape strategic direction within established firms, or influence regulatory frameworks, this program offers the essential skills, knowledge, and networking required to thrive in today’s dynamic business environment as career opportunities after a FinTech MBA.