Fintech is rapidly evolving to meet the ever-changing needs of consumers, banks, and businesses. It will dictate how our nation’s economy will grow. New Jersey companies such as IPC, Cognizant, Indecomm, and Cross River Bank are at the forefront of the fintech revolution.
New Jersey’s key asset that attracts fintech companies is our workforce. As part of the #2 fintech hub in the United States, New Jersey’s universities have created some of the strongest programs for entrepreneurs, analysts, and engineers to thrive. Keep reading to discover how moving your company to New Jersey will equip you with a robust talent pool supplied by our top universities.
FINANCE 2030: TEACHING THE SKILLS FOR THE WORKFORCE OF THE FUTURE
For over a decade, finance companies have faced a technology takeover, disrupting the industry to its core. Fintech was a $127.66 billion industry in 2018 and is likely to grow to over $309 billion by 2022, according to the Business Research Company. Is your company prepared to stay ahead of the pack? A 2019 EY survey showed that nearly half of CFOs don’t feel equipped to meet future priorities, and almost 70 percent believe many traditional finance tasks will be replaced by artificial intelligence (AI) and automation. By 2030, the fundamental roles of finance are going to require a completely different skill set, meaning your current workforce needs to be agile in its capabilities.
“We are nothing without our workforce. You are only as good as the people you surround yourself with. You can have the smartest CEOs and the smartest leadership, but if you don’t find a talented workforce, which we found right here in New Jersey, you are not going to be successful,” said Philip Goldfeder, SVP of Public Affairs at Cross River Bank.
Companies located in New Jersey have a distinct advantage: we are home to the largest concentration of scientists and engineers and superior research facilities. It’s easy to collaborate with experts in the field and tap into a pipeline of new talent. Our higher education institutions are meeting the workforce needs of the fintech industry. Several universities in the state offer specialized financial technology degrees and concentrations – making New Jersey distinct from our competitors.
NEW JERSEY’S FINTECH PROGRAMS
Attendees at Princeton’s Fintech & Quant Conference
NEW JERSEY INSTITUTE OF TECHNOLOGY
Where Do Students Study Fintech? Martin Tuchman School of Management
How It’s Innovating: In addition to both undergraduate and graduate degrees in financial technology, NJIT is promoting innovation and discovery through its tech incubator, VentureLink in Newark, as well as a study abroad program for Chinese students from Taizhou University. In both cases, NJIT is bringing together engineers to accelerate opportunity, networking, and the growth of knowledge.
“The requisite skillset required to process and analyze such information has resulted in considerable demand for staff with software development, mathematical and statistical modeling, and practical problem-solving expertise. “
-Zhipeng Yan, Associate Professor of Finance, Associate Dean for Research and International Programs, NJIT
Where Do Students Study Fintech? Bendheim Center for Finance
How It’s Innovating: Ranked as the #1 university in the U.S.,, Princeton University has been at the forefront of financial technology for over a decade. Since 2011, the Princeton Fintech and Quant Conference has been one of the premier gateways of fintech knowledge for novices and established engineers alike.
STEVENS INSTITUTE OF TECHNOLOGY
Where Do Students Study Fintech? Hanlon Financial Systems Center and the new NSF IUCRC
How It’s Innovating: Stevens has always been a leader in financial technology, becoming the first university to offer a doctorate in the field. The university also has a long history of creating programs with companies to promote innovation, including a partnership with Swiss giant UBS and an incubator program with Scivantage. Most recently, the institute was selected by the National Science Center as the first ever to lead an industry-university cooperative research center (IUCRC).
Where Do Students Study Fintech? Rutgers Business School – New Brunswick
How It’s Innovating: Rutgers is nurturing multi-disciplined business leaders of the future with degrees that cross traditional boundaries, including a BS in Business Analytics and Information Technology and a Master of Quantitative Finance. Rutgers students also benefit from Rutgers being endorsed by the CFA institute.
“Top employers around the world recognize the value of the CFA designation and Rutgers Business School students will be well prepared to pursue the CFA charter.”
-John Longo, Clinical Associate Professor of Finance and Economics, Rutgers
FINTECH’S FUTURE BURNS BRIGHT IN THE STATE OF INNOVATION
New Jersey has been an epicenter of innovation and entrepreneurship since the days of Thomas Edison. Let your company make an impact as part of a fintech ecosystem pushed by new thinking, new ideas, and new solutions. Explore the State of Innovation today and experience true business transformation.
Located just 10 minutes from New York City via PATH commuter rail service or ferry, it takes less time to travel from Jersey City to Wall Street than it does from Midtown Manhattan. Better yet, real estate is 30 percent less than Silicon Valley and 40 percent less than New York. Get access to 100 million potential consumers within close proximity, and support.
CHOOSE NEW JERSEY HELPS FINTECH COMPANIES GROW IN THE GARDEN STATE
At Choose New Jersey, our goal is to help your company thrive by providing you with the business expansion and relocation support you need. From connections at some of the best research universities in the country to detailed market intelligence services and site visits, Choose New Jersey can help make your growth seamless.
The choice is clear: New Jersey is best for fintech. Let’s get started today.
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