Fintech Certification – AICPA
1. About AICPA
The AICPA (Association of International Certified Professional Accountants) is the most influential body of professional accountants in the world. In fact, The AICPA’s mission is to lead a dynamic accounting profession ready to meet the demands of an ever-changing and disruptive world. They provide the tools, resources, and intelligence members need to clarify complexity, anticipate risk and create opportunity. Furthermore, They are their voice, protecting the public interest and strengthening confidence, opportunity, and prosperity around the world.
Founded in 1887, formed by members of The Chartered Institute of Management Accountants (CIMA) UK and the American Institute of CPAs (AICPA) USA, the Association of International Certified Professional Accountants, AICPA & CIMA builds on a century-long legacy of excellence. For example, In 2012, the AICPA & CIMA introduced the Chartered Global Management Accountant (CGMA) designation to provide members with a new level of resources and recognition.
Currently, we support our 696,000 members, including students in 172,000 businesses and employers worldwide. By doing so, we help them develop successful careers in accountancy and business with the skills employers need. Moreover, we operate through a network of 30 offices.
he Association of International Certified Professional Accountants® (the Association) represents the AICPA® & CIMA® and works to promote opportunity, confidence, and prosperity for people, businesses, and economies worldwide. Through its initiatives, the Association enhances the reputation, employability, and quality of CPAs, CGMA designation holders, and accounting and finance professionals globally.
2. FINTECH Landscape
Financial technology, or FinTech for short, is a combination of traditional financial techniques with technology and innovation. Essentially, it focuses on applying new technological advances in the financial industry. At its core, FinTech enables companies to better manage their financial operations. For instance, cryptocurrencies, mobile banking, and online payments are all examples of FinTech applications.
According to reports, India has more than 2,000 FinTech companies and is expected to witness significant growth in the future. Paytm, CRED, Policy Bazaar, and Mobikwik are examples of FinTech companies. Currently, the industry is valued at $60 billion and is expected to triple by 2025.
But why should you study FinTech along with your Bachelor’s degree programme?
The FinTech industry has grown exponentially, especially during the Covid-19 pandemic, with a 61% increase in FinTech companies over the last five years. As a result, job opportunities in the industry have surged.
What’s more, FinTech is an emerging field expected to grow threefold in the coming years—a growth rate significantly higher compared to other industries. Specifically, the industry is projected to reach a valuation of US$150-160 billion by 2025.
While most sectors suffered losses in 2020, the FinTech industry continued to thrive. For example, more than 50 FinTech companies in India reached $100 million valuations. Meanwhile, top institutes worldwide, such as MIT (Massachusetts Institute of Technology), Stanford, Harvard, and NYU (New York University), have introduced diplomas, certificates, postgraduate, and MBA courses in Financial Technology.
After completing a FinTech course, students can secure jobs in industries such as online payments, banking, loans, and finance. In addition, the FinTech certification opens up diverse career opportunities in finance and banking.
3. The AICPA FinTech Qualification: Structure, Assessment and Content
- Accounting and Finance
- Financial Markets and Introduction to Fin Tech Program
- Technology behind Fin Tech
- Fin Tech in Banking and Finance
- SQL Techniques
After completing these modules, every candidate must take a test to earn the AICPA certification in FinTech Foundations.
- Blockchain and Applications
- Machine Learning in Fin Tech
Similarly, Every candidate will write a test at the end of all the 3 modules and the intermediate level to get a certification from AICPA to get Advanced Fintech .
4. Industry Partnerships:
Additionally, CFO NeXt has partnered with numerous FinTech start-ups to provide students with internship and placement opportunities. For example, companies like Razorpay, Udaan, Vauld, Cashfree, Capital Float, IndusInd Bank, Verifone, and Amazon Pay have shown interest in partnering with the program.
5. How Do We Work Together?
CFO NeXt is a Bangalore-based professional skills training company and a leading AICPA training provider in India. In fact, we are one of the fastest-growing education companies striving to develop a new program with your esteemed college.
6. Benefits for the Students
- Internationalization of their postgraduate course
- Students only need to write 2 levels of certification to become internationally qualified FinTech professionals.
- CFO NEXT will provide qualified trainers to impart syllabus knowledge and exam tools. In addition, CFO NEXT will provide an electronic copy of AICPA-approved study materials.
- Students obtain a dual qualification at the end of the 3rd year. That means their college degree plus an advanced certification from the AICPA after passing the exams.
- Students will also receive a certificate from CFO NEXT for completing the FinTech Qualification training during graduation.
- Better placements and internship opportunities are offered to the students.
7. Benefits for the University / College
- The university/college can participate in the emulation of national skills by expanding the scope and recognition for business students.
- The university/college would be able to attract deserving students.
- The University/College has the opportunity to upgrade its infrastructures such as computer labs, web resources, library resources, and ongoing professional training for faculty and students.
- It helps the university/college to improve its overall ranking. (Like NAAC etc.)
- The university/college can further improve its reputation in its region.