FINTECH Academy program, forming the future of Fintech in Egypt

If you ever transferred money online or checked your bank statement using your bank's mobile application, then you have used one of the byproducts of Fintech. 

Fintech refers to everything from cashless payments to funding platforms, even virtual currencies are considered fintech applications.

Financial technology or in short Fintech in Egypt is all about products and business models that in one way or another serve the financial services industry either directly or indirectly. 

This requires the collaboration of several parties to create solutions in the form of web applications in general and mobile applications in particular.

These parties include the financial service experts who identify the problem or the opportunity which the fintech application will help in improving the business experts who will help provide monetization for this application and the development part who will develop the application.

Lenders insurers and asset managers are eyeing the startups as well as big tech who are involved in one way or another in the Fintech industry due to its impact on the financial market in general. But, it often comes at a high price tag and long development time; and this can be directly related to a lack of knowledge, unclear strategy, but more importantly, lack of understanding of basic principles in between the parties involved in the development process.

Fintech, unlike any growing industries, have the potential to grow beyond its current boundaries to not only encompass the entire financial system but also all day-to-day transactions which are shown in Goldman Sachs's evaluation of the Fintech industry's worth globally. It is estimated at $4.7 trillion worldwide. Accelerating fintech transformation requires increased efforts in nurturing the different parties with information, this is to allow them to have the knowledge needed in their decision-making process. So either customers or developers or even financial experts and fintech enthused need a comprehensive program to educate them on the different aspects of the fintech industry. 

An all-encompassing educational program was developed in line with extensive efforts by the central bank of Egypt to promote FinTech Literacy and Gender Equality as part of its FinTech and Innovation Strategy.

FINTECH Academy program, launched by CBE and GIZ Egypt is a 4 monthly educational program on financial technology designed with world-class standards to provide the participant with the knowledge needed in the development and innovation of ideas of a customer-centric fintech solution. 

The program also endorses gender equality and women empowerment through Accelerate ‘ha’ initiative which creates a pipeline of female entrepreneurs and provides innovative ideas for female-specific problems. Fresh graduates and fintech enthusiasts, product managers and software developers, even banking professionals are invited to attend the program which will start from June 2021 till October 2021.

People can apply online for the second round of the FinTech Academy Programme through this link.