Media Release
Udupi, Jun 20: Manipal Institute of Technology, a constituent unit of Manipal, MAHE, one of India's premier higher education institutions unveiled a first-of-its-kind undergraduate programme in B Tech programme in Computer Science and Financial Technology. As the sole institute in India offering this ground-breaking degree, MIT Manipal solidifies its reputation as a pioneer in innovative education.
In a recent report published by the Boston Consulting Group (BCG) in May 2023, it was projected that the global revenues of the Financial Technology (Fintech) sector will grow sixfold, reaching a staggering $1.5 trillion by 2030. The report highlighted the Asia-Pacific (APAC) region as the leading fintech market by 2030, surpassing the United States. The driving force behind this growth will be the significant presence of fintech firms in India, China, and Indonesia, along with a tech-savvy youth population, an expanding middle class, many small and medium-sized enterprises, and underbanked populations. The compound annual growth rate (CAGR) for this sector is estimated at 27 percent.
Commander (Dr) Anil Rana, director, Manipal Institute of Technology (MIT) said, "We are thrilled to launch the first-ever BTech programme in Computer Science and Financial Technology in India. MIT Manipal is committed to providing cutting-edge education that aligns with the evolving needs of the industry and equip students with hands on experience to make them industry ready. This programme will facilitate students interested in a career in fintech with knowledge of the fintech domain and technology. This will help the students to contribute to India's emergence as a global fintech powerhouse."
Recognizing this immense potential, MIT Manipal has taken the initiative to bridge the gap between computer science and finance by introducing the B Tech program in Computer Science and Financial Technology. This unique programme, approved by the All-India Council for Technical Education (AICTE), aims to equip students with the skills and knowledge required to thrive in the rapidly evolving fintech industry.
Drawing inspiration from the rich banking history of Udupi and Dakshina Kannada districts in Karnataka, MIT Manipal remains committed to its legacy of pioneering advancements. Late Dr TMA Pai, Padmashri awardee, the founder of the Manipal Group, was also the founding father of Syndicate Bank and is credited with designing the 'pigmy deposit schemes,' which served as the first step towards small-scale savings in India.
Prof Yogesh Pai, professor & head, department of Humanities & Management, MAHE said, "The introduction of the B Tech program in Computer Science and Financial Technology at MIT Manipal is a significant milestone in the Indian education landscape. We are excited about the opportunities this program will create for students and the transformative impact they will have on the industry."
With this latest addition to its list of accomplishments, MIT Manipal continues to set new benchmarks in education. The institution's unwavering dedication to innovation, coupled with its strong industry partnerships, ensures that graduates of the BTech programme in Computer Science and Financial Technology will possess the skills and expertise to excel in the dynamic fintech landscape. The institute will start offering this course beginning from July 2023.