Students must choose only one delivery mode: Full-Time Face-To-Face or Part-Time Online. International students can opt for the online option ONLY if they are not in the US and their home country allows it (the international student application deadline will still apply).
FinTech or Financial Technology, refers to the application of technological innovation in the financial services industry. Recent developments in technology and computer science have brought about significant changes in many sectors of the financial services industry, enabling individuals and businesses to use products and services at a lower cost, with greater ease and convenience.
Technological innovations and advances facilitate the streamlining and delivery of financial services. It should be noted that, similar to other domains of business and society, the financial services sector is also facing the disruptive effects of artificial intelligence (AI). Extremely relevant to the proposed program is that UCF is an integral part of the Florida High Tech Corridor ($5 billion industry, employs 30,000, home to National Center for Simulation), which involves a significant number of modeling, simulation, and technology companies and academic institutions that produce applications that run the gamut of fields including military, flight and transportation training, virtual experiences for theme parks and interactive entertainment, and medical training utilizing patient simulators. Home to the National Center for Simulation, UCF’s Institute for Simulation and Training, all branches of the military and 10 other government agencies concentrated on simulation R&D through Team Orlando, the Florida High Tech Corridor is a veritable hub for this field. The list of companies seeking employees with technology skills is far too lengthy to include in this document, but spans across local, state, national, and international opportunities.
There is an increasing need for technology-savvy employees who can think and function uniquely in crossdisciplinary teams to solve real analytical and logistical problems in the financial services sector. The Wall Street Journal has highlighted the fourth straight year of declines nationwide of applications to study an MBA in the US and noted that “.....in response, schools in recent years have launched cheaper, more flexible or more customized Master's degrees in hot areas such as data science and supply chain management" (WSJ, 10/1/2018). The MS in FinTech will forge a new path in interdisciplinary education and contribute to burgeoning interdisciplinary research encompassing computer science, and finance. Diverging from traditional business/management degrees, the MS in FinTech will focus on prescriptive and predictive techniques to anticipate and solve problems in a forward-looking approach.
FinTech is revolutionizing how quickly and cost-effectively financial services are delivered and is disrupting traditional financial services such as banking and mobile payments, not only in the developed world but also in emerging and developing economies. The disruptive force of FinTech is changing the banking and financial services industry’s workforce. Moving forward, it is expected that many of the traditional jobs in the financial services industry will be replaced by jobs requiring FinTech skills.
FinTech is increasingly characterized by startups with venture capital investments. As reported by the Orlando Sentinel recently, Fattmerchant, an Orlando based FinTech firm received a US$5.5 million investment from a venture capital (VC) firm with the objective of hiring as many as 50 people, most of them in the Southeast. This is just a small piece of the US$16.6 billion in global venture capital raised in over 1,000 deals in 2017 (CB Insights, 2018), with most of the funding going to US companies. Last year (2018) was expected to be an even stronger year for such investments and to drive the demand for FinTech jobs, both in the US and globally. Job demand for FinTech is high (5,837 FinTech jobs are listed on LinkedIn as of December 31, 2018). By combining skills in key software and finance areas, FinTech jobs have a high median annual income of US$130,000 vs. US$105,000 for a general software developer. (Computerworld, 12/15/2017)The interdisciplinary MS in FinTech (Finance and Technology) will be offered jointly by the College of Business Administration (CBA) (Department of Finance) and College of Engineering and Computer Science (CECS) (Department of Computer Science). The degree will be housed in the CBA.
The core of the MS in FinTech is the application of technology to improve and automate the delivery of traditional financial services. This degree program will provide employable technical skills including the development of algorithms, machine learning, and computer systems. The curriculum includes required courses that ensure that students develop computing skills, build awareness of financial markets, and apply their skills to simplify services related to banking, mobile payments and transfer of funds, credit evaluations, and asset management.
The FinTech MS is a 10-course (30-credit hours) lock-step cohort program with 5 courses (15-credits) each in Finance and Computer Science and will not have any tracks or specializations. The independent learning requirement is met by successful completion of a capstone project in the required course FIN 6777 (Capstone Course), which will be an applied project in financial technologies.
Total Credit Hours Required: 30 Credit Hours Minimum beyond the Bachelor's Degree
Please note: FinTech MS, although not all elective options or program prerequisites may be offered online. Newly admitted students choosing to complete this program exclusively via UCF online classes may enroll with a reduction in campus-based fees.
International students (F or J visa) are required to enroll in a full-time course load of 9 credit hours during the fall and spring semesters. Only 3 of the 9 credit hours may be taken in a completely online format. For a detailed listing of enrollment requirements for international students, please visit UCF Global. If you have questions, please consult UCF Global at 407-823-2337.
UCF is not authorized to provide online courses or instruction to students in some states. Refer to State Restrictions for current information.
Highlights
Application Deadlines
- Fall Priority
- January 15
- Fall
- July 1
Application deadlines subject to change, see the Graduate Studies website for up-to-date deadlines.
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Course Overview
Strategic Financial Management
Explore the theory and analytical techniques associated with the major financial decisions of corporate management, including risk analysis, capital budgeting, short- and long-term financial management.
Computational Methods in Fintech I and II
In Computational Methods in Fintech I, you’ll cover fundamentals of data structures; definition and analysis of algorithms; basic classes of algorithms; graph algorithms; algorithms for identity, privacy, anonymity and automation. Then in the second class, you’ll explore advanced data structures; advanced algorithms; automated accounting, risk management and tax automation; computer architectures and applications to financial technology; parallel programming on multiple processors and GPUs.
FinTech in Decision Making
Gain an introduction to business intelligence and analytics applied to the financial world.
The program is designed to promote entrepreneurial thinking amongst students and fosters relationships with the local fintech community in Central Florida.””
Fintech Skills You’ll Learn
- Implement financial technologies using advanced algorithms and data structures together with a clear understanding of hardware architectures.
- Use data, statistical and quantitative analysis, and exploratory and predictive models to inform financial decision making.
- Conceptualize, design and implement websites and their backends for creating fintech applications.
- Design, implement and test artificial intelligence (AI) systems, including chat bots, biometrics, object recognition and prediction systems.
Career Opportunities
- Apps Developer
- Blockchain Developer
- Cybersecurity Analyst
- Compliance Expert
- Data Specialist
- Financial Analyst
- Investment Manager
Admission Requirements
UCF’s Master of Science in Fintech program is designed for those who have a strong, academically-based quantitative background and an interest in working at the nexus of emerging technologies and the financial sector.
Candidates should have earned a bachelor’s degree from a regionally accredited institution with a minimum of 3.0 GPA in one of the following: accounting, finance, economics, information systems, information technology, computer science, engineering, mathematics, statistics or natural sciences.
Please note that for the MS in Fintech online program, a minimum of 3 years of professional work experience is also required.
To apply, submit the general graduate admissions requirements, as well as the following items by the deadline:
- Online application
- Official transcript(s)
- Goal statement of 500 words or less
- Current resume
College of Business News
