Digital know-how and FinTech readiness

Abstract

The finance and accounting domains today require institutions of higher learning to produce competent graduates who are familiar with digital soft skills. These include Blockchain, e-audit, big data, cryptocurrencies, auditing on the cloud, softbot counseling, robotics in business process automation, peer-to-peer transactions, application of artificial intelligence in treasury-related work, and crowdfunding. The voguishness of technology usage in the digital economy today has become an impelling force to the accounting and finance professions. Industry experts argue that the lack of FinTech skills will adversely impact recruitment. FinTech-enabled platforms create disruption to the accounting workforce as newer emerging business models and processes are slowly rising across banking, finance, audit, and integrated reporting. In this article, we present the top 10 skills needed in terms of FinTech readiness that should be included in existing curriculums offered at the tertiary level from expert opinion gathered by relevant stakeholders.