To strengthen the digital banking system and participate in the fast-growing banking system, Commerce students are taking up short courses in digital banking and cyber security to address the looming threat in the online banking system. Students are getting employable in the e-banking system.
These short courses are helping students to take diverse job roles such as security analyst, internal auditor, stock analyst, and many more. However, to remain relevant in the field, students will have to upskill by enrolling in short-term courses based on new technologies. With digital banking expanding each day, the technological demand is increasing too.
Speaking to Education Times, Ketan Upadhyay, dean, Faculty of Commerce, Maharaja Sayajirao University, Vadodara, says, “These days all the private and public sector banks are encouraging their customers to adopt digital banking to reduce the footfall in the branches. Hence due to these evolutionary changes, most students are learning ‘Digital banking’ courses along with the basic commerce degree. The demand for skilled digital banking systems has increased after the pandemic era. The B Com syllabus has a special emphasis on digital banking, in the Insurance and Banking subject. At the master’s level, we have an advanced module.”
The B Com syllabus has tweaked its curriculum, which now emphasizes Cybersecurity courses along with Digital Banking to regulate the increasing threats of financial frauds and even cyber-crimes. “Digital banking domain is continuously evolving due to technological advancements. Furthermore, there is an additional thrust on ‘Green Banking’, which the students must learn to encourage paperless banking,” explains Upadhyay. Most BCom undergrads intern at the Bank of Baroda for hands-on training in digital banking products.
Ajay Kumar Singh, head, Department of Commerce, University of Delhi, says, “In the current times it is essential to teach the topic of digital banking to the students so that the right manpower can be produced in the future to deal with the challenges that arise out of the digital banking. After gaining the requisite knowledge of know-how of digital banking, students can get employed in Fintech companies like Paytm, Bharat Pay, Google Pay, etc. In addition to this, students can also work to find ways to innovate digital products. The course curriculum of Digital Banking is a combination of Banking and Technology topics. The digital banking course is offered at both undergrad and masters levels, which makes the graduates skilled for fintech jobs.”
Curricula of Digital Banking
The course includes deeper analysis of subjects including Internet Banking, Mobile Banking, ATM, Forex settlement, ATM, Cryptocurrency, Artificial Intelligence, Machine Learning, Deep Learning among others.
“There is no provision for professional bankers to specialise in digital banking at the university. However, a committee for financial inclusion was recently formed at the university that conducted a workshop on financial inclusion where senior officials from SEBI delivered long sessions for students,” says Singh.
In the past five years, placement has increased for graduates specialising in digital banking. Almost 90% of MBA students with specialisation in digital banking are getting offers from banks and prominent UPI apps. Fresh graduates get initial salaries of Rs 8 to 10 LPA.