How an MBA in Digital Finance and Banking (DFB) can be helpful in the BFSI Sector?

The present job market is characterized by cut-throat competition. So, it goes without saying that if you wish to thrive and survive in such a scenario, you must look beyond the boundaries of basic education (school and college-level) and opt for advanced educational programs to build a rock-solid foundation for your professional career. 

Employers are no longer looking for run-of-the-mill professionals – they want people who hold specialized domain skills along with entrepreneurial and managerial skills. And what better than an MBA degree to acquire both industry-specific skills and managerial skills!

While an MBA degree is offered on numerous specializations, in today’s post, we’ll focus on MBA in Digital Finance & Banking (DFB), India’s first online MBA degree in DFB. This course has been designed by the prestigious O.P. Jindal Global University (JGU), powered by upGrad . 

What does an MBA in Digital Finance & Banking course have to offer?

upGrad has long been an ardent supporter of online learning to help aspirants and working professionals expand their knowledge and upskill from within the comfort of their homes. 

Since the Indian BFSI sector is at the cusp of digital transformation, fuelled by disruptive technologies like AI and Blockchain, traditional processes and techniques are now paving the way for innovative banking and financial services. This inevitably means BFSI companies need qualified and skilled professionals who are well-versed in the latest technological developments. 

This MBA program has been designed for aspirants who wish to build a career in banking and finance domains. The two-year course encompasses topics like Blockchain and Cryptocurrency, Artificial Intelligence in Business, Data Visualization in Finance, Financial Management & Valuation, Fintech Ecosystems Management, Digital Fraud & Risk Analytics, and Design Thinking & Leadership for Business – all of which are crucial to the growth of BFSI industry. The course curriculum also comprises high-quality industry case studies and live interaction sessions with industry mentors.

The faculty includes experts from Jindal Global Business School (JGBS) and Jindal School of Banking & Finance (JSBF). On course completion, you will receive an MBA degree, but you will also gain the status of JGU alumni. Furthermore, you will have plenty of opportunities for networking with peers across the BFSI and Fintech domains at upGrad’s Offline BaseCamps.

How can MBAs specializing in Digital Finance & Banking create value for the BFSI sector?

At present, the BFSI industry is evolving rapidly. With the inclusion of new-age technologies in this field, there is a pressing need for expert professionals who can implement these technologies to create innovative banking and financial solutions. This is where an MBA degree in a specialized field like DFB can bring about a welcome change and drive “value addition” in the BFSI sector. 

Prof. Ram Ramachandran, Professor and Vice Dean at JSBF aptly stated:

“Digital disruption is accelerating the demand for business and finance professionals to have a nuanced understanding of emerging technologies, digital transformation, and governance processes. FinTech and AI will transform the face of traditional banks. The need for future skilled professionals will become acute in the next 3 to 5 years.”

Here are 5 reasons why MBAs with a DFB specialization can benefit the BFSI sector

1. They possess niche knowledge and skills

MBA graduates in Digital Finance & Banking have extensive knowledge on various subject matters of the banking and finance sectors. They are capable of looking at the complexities of the BFSI industry from a multi-disciplinary perspective. Since they are well-versed with the latest tech and market trends, they are ever-ready to cope with the emerging challenges brought about by the rapid digital disruption of the BFSI industry. 

2. They possess transferable skills

All MBA courses are designed, keeping a healthy balance between hard and soft skills. The best part is that the unique combination of these skills is not constrained to any specific industry. For instance, leadership, project management, and analytical thinking are skills required in every sector. This is what makes MBA degree holders multi-talented. They can move from one industry to another smoothly. 

An MBA with DFB specialization can seamlessly juggle both technological, entrepreneurial, and managerial responsibilities within a company. Not for nothing is an MBA degree, one of the most versatile degrees!

Learn MBA Programs from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career.

3. They are wizards of project management

Project management lies at the core of MBA programs. MBA graduates are trained to look at problems from a 360-degree angle. By doing so, they can always find dynamic ways to approach the project at hand. This is where their planning and organizational instincts kick in! Since they have a keen business and managerial sense, they can create optimal management strategies while leading multiple teams. 

4. They have aced marketing

Marketing is another crucial aspect of an MBA program. In fact, well-designed marketing strategies are among the pivotal ingredients behind any business’s healthy functioning. Banks are no exception. All banks require excellent marketing strategies and campaigns to acquire new clients and expand their user base. As MBA graduates have already aced the art of marketing, they can create practical and actionable marketing plans that prime importance to the target audience’s pain points. 

5. They have excellent critical thinking abilities

During the MBA course, candidates are encouraged to sharpen their critical thinking skills by actively working on case studies, live projects, and business presentations. This allows them to get hands-on domain experience.

Naturally, their critical thinking abilities come in handy in real-world scenarios where they have to work with real business issues and challenges. Since MBAs can use their critical and analytical faculties to understand a problem from all possible angles, they can make sound and informed business decisions. 

Wrapping up

The BFSI industry is transforming, and so should the professionals involved in this industry. Technological specialization and upskilling are the need of the hour in the BFSI sector. An MBA in Digital Finance & Banking is the right step in this direction!

If you are keen on upgrading your career with an MBA Degree, upGrad is offering an MBA in Digital Finance & Banking in collaboration with the Jindal Global Business School and the Jindal School of Banking & Finance. Be a JGU alumnus and take advantage of continued engagement and networking with the world of academia, policy, and industry

How to get a job in banking?

The most important criteria is that you must be a graduate. There are many ways to get a job in banking, depending on your qualifications and interest. For instance, if you are a chartered accountant, you may apply for jobs related to taxation, budgeting, etc. Several banks also conduct banking exams, and selected candidates are given entry level positions at different levels. But if you are looking at pursuing a corporate career in banking, in roles such as marketing, data analytics, investment banking, or more – then an MBA in digital finance and banking from a reputed b-school is your best bet.

How will an MBA help my banking career?

If you are already working in a bank, an MBA would be an excellent way to boost your career. You would be able to directly jump into managerial roles from executive roles, and your income would certainly increase exponentially within 5-7 years after completing the MBA. Depending on your interest, you can choose your specialisation in MBA. For instance, a specialisation in digital finance and banking would catapult you into digital transformation and product management roles for digital banking, which is one of the most booming fields in India today.

What is meant by digital finance?

Digital finance basically explores the role of technology in various aspects of finance – such as accounting, budgeting, financial planning, investment management, trading, digital channels for conducting and monitoring financial transactions, and so on. It is a vast field, and depending on your interest, you can specialise further. For instance, if retail banking is your area of interest, an MBA in Digital Finance could help secure roles into digital product management or operations. If you are interested in corporate finance, you can use your MBA degree to work in fields that develop large, complex systems to handle large financial transactions conducted by corporates.

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