In today's technology-based world, digitization has become the focal point on which any industry revolves. People in the industry and consumers alike prefer the digital platform to conduct transactions due to their relative ease of access. In short, the industry as a whole is moving from the age of physical paper to the era of complete digitization, hence giving rise to digital consumerism.
Hence, it has become a compulsion that industries start to evolve in this digital field. The banking industry is no different in this regard. New-age banking is nothing but banking procedures becoming digital (referred to as digital banking). This has led to a rise in the introduction of newer digital services and wider diversification of existing services over digital platforms.
Why choose new-age banking as a career:
If you decide to start your career in new-age banking, you are bound to notice that banking has evolved to include multiple initiatives. The old systems of working in the industry are being revamped, and every skill that you bring to the table would be in demand.
One of the biggest advantages in this regard is working under MNCs, thus ensuring job safety, high salary packages, and off the roof benefits.
Apart from these monetary perks, you would also get to work in various roles and capacities, thereby making a wise decision from a long-term career perspective. Given the wide growth that the sector is experiencing, your progress will not be limited; you can achieve satisfying career progression, continuous learning opportunities, and community service goals all hand in hand—keeping aside the conventional fixed hours' job that a banking job demands, you will be exposed to a great working atmosphere and work in other avenues even after retiring from the industry.
Opportunity areas new age banking offers:
New-age banking offers the best services in the areas of online lending, banking services, and Forex transactions. Today there are multiple opportunity areas in new-age banking, but the most key areas are personalized consumer banking division, IT systems and security, Commercial banking roles, Investment, and trust banking, fund management, accounting and administrative roles involving finance management, HR and PR resources, operation roles, and marketing roles in achieving new customers and advertising.
Skills required to be a digital banking professional:
Organizations prefer candidates who are really strong in finance management. Apart from this, other required skill sets like good communication skills, analytical thinking, problem-solving abilities, and expertise in financial management software are an added bonus.
On the academic front, you need at least a graduation degree, and an MBA is always recommended to further your career. Since some students of MBA are also working professionals, there are reputed institutions offering online MBA. You need to attend online and recorded classes and write online exams.
These distance learning classes are exclusively for working professionals. In MBA for working professionals, you get trained by renowned faculties offering industry-oriented specializations in finance, enabling workplace effectiveness. Other than an online MBA, you can also get into certification courses to understand Fintech, financial analysis, and get in-depth exposure to the new banking system.
Every bank's success always depends on the skills of its employees. Working in banking can be rewarding if you are ready to take on challenges every day. A career in digital banking is open to everyone if you are interested to learn and work.