Financial technology continues to transform how consumers, businesses, and the banking industry do business and handle financial transactions. Far from being regarded as being the industry disruptor during its emergence, fintech solutions are now the industry standard and the go-to technologies. Artificial intelligence (AI) and machine learning, big data and data analytics, distributed ledger technology, and robotic process automation offer immense opportunities to improve operations and customer experience, reduce inefficiencies, and increase revenue.
The impact of fintech in boosting the delivery of financial services is especially significant in emerging markets like Vietnam and the Philippines where the rate of financial inclusion is still relatively low (59% of the population in Vietnam and 28.6% of the population in the Philippines).
Harnessing the full potential of fintech, however, requires a pool of professionals capable of moving confidently in the fintech landscape and equipped to make the switch from traditional to digital, start-up to scale. Presently, there is a gap between the labour financial services emergent need and the programmes offered by higher education institutions (HEIs). There are only two Fintech-focused masteral programs being offered in Philippine HEIs. In Vietnam, there is an undergraduate program for fintech but no higher education course (Master and Ph.D) currently are being offered.
The TRUST Project aims to address the emergent workforce needs of the fintech industry by modernizing the curriculum of HEIs in Vietnam and the Philippines to integrate a Master in Fintech and Digital Innovation. The TRUST Project, for the first time, merges European Union, South Asian HEIs and industry stakeholders to promote fintech curriculum modernisation and development and improve the quality of HEI program in partner countries.
The Project will 1) design and develop a Master’s in Financial Technology and Digital Innovation (FINTECH) in Vietnam and Philippine universities; and 2) modernize other Masters in Business and Economics programs in Vietnam and Philippine universities with financial technology courses.
The TRUST Project is co-funded by the European Union Erasmus+ Programme.