Ohio State to Launch Fintech Microcredential

• The Ohio State Fisher College of Business will offer a short-term credential in financial technology (fintech) starting in spring 2024.
• The two-course credential is 4.5 credit hours total and open to all professionals with a four-year undergraduate degree.
• Fintech is a broad term that applies to technologies that boost or automate finance.
• The industry is set for rapid growth over the next decade, and employers say the microcredential could lead to a boost in earnings.

The Ohio State University's Fisher College of Business will soon offer a short-term credential in financial technology — a rapidly growing field that covers everything from mobile banking to cryptocurrency.

Financial technology (fintech) is projected to experience meteoric growth over the next few years. Fintech is a broad term that applies to technologies that boost or automate finance for businesses and customers.

Fueled by mobile apps, cryptocurrency, artificial intelligence (AI), and other emerging technologies, fintech is in high demand from consumers and businesses alike. The Boston Consulting Group projected earlier this year that industry revenues will grow from $245 billion to $1.5 trillion by 2030.

Ohio State's new microcredential aims to give professionals "introductory-level knowledge" of that critical field. The online post-bachelor's program is 4.5 credit hours total, according to a press release, and consists of two classes: "Introduction to Fintech" and "AI and Machine Learning for Business."

Enrollment for the spring 2024 semester is open to all professionals who've completed a four-year undergraduate degree, according to the release, including current Ohio State graduate students.

"The Fintech Micro-Credential represents Fisher's latest step in our dedication to continuous innovation and workforce development," Anil K. Makhija, dean of the Fisher College and John W. Berry Sr. chair in business, said in the release.

"With fintech representing the second-largest industry sector in Ohio by GDP (gross domestic product), this micro-credential will help professionals and graduate students establish a critical, baseline knowledge of the technological levers and mechanisms that drive business and finance today."

Ohio State's microcredential was designed with input from prospective employers in a broad variety of industries that use fintech, including healthcare, financial services, and others.

"Successful innovation means being in tune with the needs of our audiences," Makhija said in the release. "The Fintech Micro-Credential, the first such offering by a university statewide, is an example of identifying a real need among industry and business professionals and then responding to that need by creating a convenient, relevant and accessible path toward personal growth and lifelong learning."

Employers told the Fisher College that the short-term microcredential could lead to a hefty return on investment.

When coupled with a master's degree, the microcredential could lead to a potential salary increase of $10,000-$20,000 per year, according to the release. Even without a master's degree, the short-term credential could offer a salary boost on its own, with an estimated earnings increase of between $5,000 and $10,000 per year.

Employers have largely indicated that they see value in short-term, nondegree credential programs.

Ohio State isn't the only school to embrace the growing fintech field: The Worcester Polytechnic Institute in Massachusetts announced its own bachelor's and master's degree programs in fintech earlier this year. The degrees will couple hands-on training with concentrations in specific fintech fields to bolster students' career prospects.

Other schools that have adopted fintech programs include Creighton University, the New Jersey Institute of Technology, the University of Connecticut.