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Digital-focused Chartered Banker from FINSIA for next generation of leaders

by Lewis Panther | 31 Oct 2019
A digital-focused Chartered Banker is being released to complete FINSIA’s full-suite of professional qualifications.

Students on the gold standard course will need to show a determination and inquisitiveness that proves they are up-to-date with the technological requirements needed to become banking leaders in 2020.

That’s the message from Head of Standards and Education Kyle Blundell SA Fin who has been finalising the rigorous course made up of three compulsory and one elective modules.

Bank Strategy, Operation and Technology, which is the first to be launched, is typical of the type of studying needed to complete the whole course, according to Blundell. 
 
She said: “As you’d expect from a course aimed at ambitious young bankers who aim to become the next generation of leaders, those on the Chartered Banker will have to demonstrate high levels of motivation.

“They will need to undertake a good deal of their own research and set their own timetable.

“I see it as being good on two fronts. It’s what you would expect of those with the drive to become the next generation of leaders. But it provides the flexibility to fit in with your current career and busy schedule.

“The digital world we expect students to understand is evolving so fast,  you will need to research original material as well as study from our online textbooks.”

While an ability to be able to code is not essential, an understanding of AI, bitcoin, blockchain, fintech, digital banking, electronic trading and robo-advising is a must for today’s bankers

Understanding Open Banking is one key area for students on Bank Strategy, Operation and Technology, according to Blundell. 

Blundell added: “Open Banking has been talked about as one of the key disrupters for a few years.

“It’s a given that bankers in 2020 need to understand what it will mean when people are able to share their own transaction data with other banks.

“The fact that data is such an important driver in financial services these days means you need how to handle it to devise a strategy.

“That’s when data is an incredibly valuable asset in reputational terms. 

“Clearly, it’s a huge opportunity for a bank to become more customer-centric and react to what customers want. Using data insights and technological advances is crucial in a FACEBOOK, Amazon and Netflix dominated world.”

With Millennials and Gen Zs fast becoming the biggest market for financial services, understanding their needs is incumbent on anyone in banking.

But while keeping abreast of all the digital developments Blundell says students must not forget that technology supports the delivery of banking services.

“We cannot ignore the fundamental professional capability bankers need to have - from credit, risk, banking operations, regulation, technology and sustainable finance.

“Moreover, senior bankers need to deal with the ethical and moral challenges that come along in this new digital era.

“When we have so much data on customers’ lives, we need to understand how we strike the right balance between protecting their privacy while using that data to generate insights that allow us to serve them better.

“It’s certainly an aspect of our professional qualifications that is central to our thinking.”

The fast-pace of regulatory change also has to be taken in to account, Blundell notes. To that end, FINSIA knows it is crucial to develop courses like Chartered Banker with industry experts.

She says: “Studying towards Chartered Banker will show you have the highest standards and personal capabilities we see as central to professionalism

“Becoming a Chartered Banker will help you to meet new regulatory requirements.

“And it will enhance your reputation and future proof your career.”

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