Fintech inventions in Finance and Technology such as Blockchain, Artificial intelligence (AI), Digital payments and Robo-Advisors are becoming vital to the Banking industry. Not only do these developments enhance the efficiency and security of banking activities but these new forms of conducting business also bring in new ways of businesses that are challenging to the conventional financial institutions. Consequently, this has created an urgent necessity of commerce and management education to change, which means that future professionals would be equipped to succeed in the fintech-driven world. The services offered by Fintech are Banking, Pay tech, E- commerce, Stock trading, Wealth management, Fintech lender, Insurtech, Reg Tech, Cryptocurrency. The paper explores how fintech innovations in banking are done, and specifically how learning institutions can create a framework to incorporate fintech in commerce and management curriculum. The study is driven by the increasing importance of fintech in the future of financial services and the need of educational establishments to be able to compete in the digital economy. One of the main purposes of this work is to identify the major fintech innovations that transform the banking industry and to discuss the way it will impact education. The paper will attempt to answer the key questions about the way commerce and management education can react to these technological developments, and what skills students need, as well as how partnerships between academia and the fintech industry will contribute to this transition. This paper uses a qualitative research approach to investigate these questions, by having a comprehensive review of the literature on the topic, case studies in fintech hubs in India, and information gathered through interviews with stakeholders in the industry. In this analysis, the paper sheds light on major trends in fintech innovation and discusses the opportunities and challenges in educational institutions. The results show that fintech is changing the banking sector very fast, but most of the educational institutions are lagging behind in incorporating fintech-based issues within the curriculum. This disconnects between the industry requirements and the existing educational programs highlights the necessity of a complete change in the curriculum and skill development programs.
Sharma et al. (Sun,) studied this question.