Changing Face of Banking: 6 Courses to Help you Prepare – Times of India

By Parikshit Markanday, Chief Business Officer – Employability Programs, Times Professional Learning

The banking industry has seen a fundamental transformation in the last couple of decades with the increasing digitisation of services and a customer-centric approach, leading to changing skill requirements. Various banking and finance programmes provide industry exposure and placement assistance to encourage talent and equip aspiring students with domain expertise and holistic skills in emerging technologies.

The Indian banking industry has gone through a technological shift over the past two decades, moving from a brick-and-mortar set-up to establishing a robust digital presence. With new technologies changing the status quo, along with various pandemic-driven changes, we are witnessing the emergence of an employee-centric approach to facilitate contactless and paperless banking. Emerging technologies such as Artificial Intelligence and Machine Learning continue to revolutionise banking services that will accelerate the pace of transformation. This evolution necessitates a paradigm shift in training programmes to equip students with technical proficiency and strengthen their fundamental banking concepts.

Changing Face of Banking

While established players dominate the banking industry, we can expect to see a widening role of Fintech and Non-Banking Financial Companies (NBFCs). Fintech is the catalyst for bringing in the transformation in the sector for growing the fastest globally with an 87% adoption rate compared to the global average of 64%. These companies have facilitated the reach of traditional banks by helping them connect with new customers. At the same time, increased competition from the fintech sector has forced many banks to accelerate their digitisation and widen their ambit of services.

As the Reserve Bank of India approves the conversion of large NBFCs (with asset size exceeding ₹50,000 crore) to banks, it will lead to healthy competition among peers. The RBI also authorised large corporate houses as bank promoters while increasing the cap on the promoter’s stake to 26% from the current 15%. The easing of regulations to allow new players is a welcome move towards encouraging healthy competition and widening the array of choices available to consumers.

Picking the Right Course

The National Skill Development Corporation (NSDC) estimates an additional demand for 1.6 million skilled workers in the BFSI sector in the coming years. To meet the industry’s changing demands, aspiring banking professionals will need technical expertise in emerging technologies, domain competency, and the soft skills expected in a customer-oriented sector like banking and finance.

EdTech platforms such as TimesPro, IFBI, and Imarticus Learning offer various banking programmes that are developed in association with the industry to effectively meet these emerging requirements while facilitating experiential learning for students to ensure that they are industry-ready.

Here are some of the top banking management programmes available for aspirants:

Post Graduate Diploma in Banking Management by TIMESPRO: This four-month programme offers full placement assistance with the assurance of at least five employment opportunities. Led by a faculty that comprises veteran bankers, this programme is designed to hone the candidate’s knowledge of banking fundamentals and augment it with training in the soft skills required for customer-facing roles.

Post Graduate Diploma in Sales and Relationship Banking by TIMESPRO: The 45-day programme offers intensive training and a three-month paid internship with ICICI Bank. The curriculum is designed to develop domain expertise in regulations, risk and compliance, and generic and emerging products and services, along with the general grooming of candidates.

MBA (Banking and Financial Services) by TIMESPRO: It is a two-year programme developed by TimesPro in association with the Bennett University. The industry-vetted holistic curriculum includes immersive learning, Capstone projects, communication skills, and on-the-job training in leading banks. Candidates also receive hands-on training in Finacle Core Banking Solution by Infosys and ET FinPro by Times Group.

MBA in Digital Finance by IFBI: The two-year programme is developed by technology and banking industry experts with a focus on developing industry-ready candidates. It gives exposure to learners to near-real simulations and scenarios for faster readiness to perform on the job. Candidates can choose to study for a year on campus followed by a year’s internship or study on-campus for 1.5 years followed by a six-month internship.

Post Graduate Diploma in Banking and Finance by IFBI: The one-year programme is split into nine months on campus, followed by a three-month internship, providing students with an optimal combination of domain expertise and experiential learning.

Post Graduate Program in Banking & Wealth Management by Imarticus Learning: Ideal for professionals with up to three years of experience, this 180+ hour programme by Imarticus Learning is an intensive crash course in NBFC, commercial banking and investment management. Candidates can get NISM (National Institute of Securities Markets) and IRDA (Insurance Regulatory and Development Authority) certifications on completion.