Financial Technology (FinTech) refers to a cluster of emerging innovations that have the potential to revolutionize the nature of the finance industry, enhancing the productivity of financial firms by employing data science and cyber technologies. Global investment in FinTech has been so active in recent years that the Monetary Authority of Singapore has launched an initiative, the FinTech and Innovation Group, and pledged to spend S$225 million over the next five years to develop the FinTech sector in Singapore.
Nanyang Technological University, Singapore (NTU Singapore) offers a Master of Science in FinTech (MSc in FinTech) hosted by the School of Physical and Mathematical Sciences. The curriculum is built upon data science, artificial intelligence, and information technology to provide students with the FinTech skills necessary for navigating the changing landscape of the finance industry. Strong emphasis is placed on the in-depth mastery of disruptive technologies in finance, including financial automation (e.g. robo-advisors) and financial cryptography (e.g. blockchain technology).
Programme & Curriculum Structure
The MSc in FinTech Programme is an intensive 1-year full-time or 2-year part-time programme by coursework taught in 3 trimesters per year. The curriculum consists of two specializations: Artificial Intelligence and Operations and Compliance. The courses in the MSc in FinTech programme are delivered in intensive periods of 7 weeks. In other words, each trimester is split into two halves. All courses are conducted at NTU (main campus) in the evenings of weekdays or Saturdays.
Practicum module, MH6809, starting in Trimester 3, will comprise either a research-based project or a self-sourced internship where students work on a professional consulting project mentored by experienced instructors to solve financial problems. The internship companies our students previously involved with include GIC, Julius Baer, Lumiq, DBS, OCBC, Macquarie Bank, CIMB, Grab, etc.
The programme consists a total of 33 Academic Units (AUs), with 21 AUs of compulsory modules, 6 AUs from the chosen specialization's electives, and 6 AUs from other electives:
| Compulsory courses |
21 AUs |
| Prescribed Electives of the chosen specialization |
6 AUs |
| Unrestricted Electives |
6 AUs |
| Total graduation requirements |
33 AUs |
The requirements for graduation are as follow:
- Successful completion of all requirements as prescribed by the programme of study; and
- A minimum CGPA of 2.50 is attained at the completion of the programme of study.
For students who matriculated in AY2019/2020
ay2020/2021
Compulsory Courses
This course gives an overview of all the changes, which are happening now in the financial industry and discusses how some of the FinTech processes are being constructed. Each FinTech disruption concept is based on a mathematical of behaviour concept, which is backed by data, analysis and technology. This course goes into detail into some of these processes, so give an understanding as to what is the business model, skill, and future of FinTech in the financial services industry. It will also cover the recent progresses on FinTech development and applications. Although the topics may vary in order to keep pace with the FinTech development, they mainly involve case studies, practical challenges, trends, and opportunities in a FinTech career.
This course discusses the existing and future landscapes of FinTech in Singapore, from incumbent financial firms to FinTech startups. Both traditional and new players are working with policy-makers to define the ecosystem, to encourage innovation, adoption while maintaining regulatory oversight.
This course provides an introduction to the basic principles and theory of finance, terminology and commonly used tools. The course will specifically discuss the financial system, financial statements and financial statement analysis, time value of money, basic valuation of bonds and stocks, capital budgeting processes and techniques, and risk analysis
This course covers the quantitative methods to construct computer-based algorithms for automatic trading and asset management. A number of notable algorithmic trading strategies are discussed. This course also emphasizes the rationale behind the winning strategies, backtesting, automated execution and how to build robots for trading and asset management with specific goals. Moreover, the course provides a hands-on experience of implementing the financial solutions with real market data.
This is an introductory course that attempts to answer the following questions: What is blockchain? What does blockchain aim to achieve? What are the useful properties of blockchains? What are the building blocks of blockchain? What are the design principles underlying the building blocks of blockchain? What are the use cases for blockchains? What is cryptoasset and cryptocurrency? How to evaluate cryptoasset/cryptocurrency? What is Bitcoin? What is the relationship between Bitcoin and blockchain?
Python is an easy to learn higher level scripting language that can be used across many different platforms. As such, it is a common choice to code for FinTech products. This course will train the student for programming in python, with particular focus in FinTech applications.
This course builds upon the Python basics, covered in MH8811 Python Programming, to understand a more comprehensive use of Python with its famous libraries, such as Numpy, Pandas, Matplotlib, Seaborn, and Scikit-learn. This course will train the students for Python programming skills for data analysis.
Probability, conditional probability; random variables, joint distributions, conditional distributions and independence; probability laws, multivariate normal distribution; order statistics; convergence concepts, the law of large numbers, central limit theorem. Estimation, Bayes estimators, interval estimation including confidence intervals, prediction intervals, Bayesian interval estimation; Hypothesis testing, likelihood ratio tests; Bayesian tests; Nonparametric methods, bootstrap.
The knowledge discovery process. Data preparation including data cleaning, outlier analysis and transformation. Statistical techniques: regression modelling, multivariate statistics, statistical inference. Supervised and unsupervised learning techniques including decision tree induction, nearest neighbour categorisation, cluster analysis, association analysis, support vector machines, Bayesian learning and neural networks. Data mining software and tools. Applications of data mining to complex data types.
Professional consulting project mentored by experienced instructors to solve problems that are of great importance to the sponsoring companies. The internship companies our students once involved with include GIC, Julius Baer, Lumiq, DBS, OCBC, Macquarie Bank, CIMB, Grab, etc.
Artificial Intelligence Prescribed Elective Courses
In this course, students will learn state-of-the-art deep learning methods for Natural language processing (NLP). Through lectures, practical assignments and projects, students will learn the necessary tricks for making their deep learning models work on practical problems. They will learn to implement, and possibly to invent their own deep learning models using available deep learning libraries.
This course covers basic and essential quantitative methods in finance. A number of mathematical and statistical techniques are introduced. This course emphasizes the applications of the quantitative methods in two important areas in finance: asset management and derivative pricing.
This course builds upon the basic blockchain knowledge discussed in the introductory course to understand the most popular blockchain networks: Ethereum. It covers the mechanics of Ethereum and how it aims to become a global computer through its artifact smart contracts. We will learn one of the languages for smart contract: Solidity and use this to code smart contracts. With these tools, we explore the processes and principles of building decentralized apps on the Ethereum platform.
Operations and Compliance Prescribed Elective Courses
Regulations are essential to ensure good governance in the finance industry. FinTech aiming to replace existing financial services will be subject to the same regulations. RegTech, short for regulatory technology, aims to simplify the compliance process, providing large savings in face of rising compliance costs. This course introduces the myriad of financial regulations, both for traditional financial services as well as new regulations introduced to cover novel FinTech services. The potential of RegTech for cost reduction will also be discussed.
Financial Crime Compliance and Regulatory Compliance are probably at the top of nearly every financial institution’s risk review process and have become the key strategic imperatives for all board members. This course provides a robust training in Know your customer (KYC) and Customer Due Diligence (CDD) processes by drawing on cutting-edge experience of what world’s leading financial institutions are doing, have done, and must still do. In addition, this course covers the incorporation of the new technologies into the KYC and CDD processes.
Techniques for measuring and managing the risk of trading and investment positions for positions in equities, credit, interest rates, foreign exchange, commodities, vanilla options, and exotic options; risk sensitivity reports, design of static and dynamic hedges, measure value-at-risk and stress tests; Monte Carlo simulations determining hedge effectiveness; case studies.
Techniques for measuring and managing the risk of trading and investment positions for positions in equities, credit, interest rates, foreign exchange, commodities, vanilla options, and exotic options; risk sensitivity reports, design of static and dynamic hedges, measure value-at-risk and stress tests; Monte Carlo simulations determining hedge effectiveness; case studies.
Unrestricted Elective Courses
These courses introduce a number of optimization methods commonly used in operations research. Nonlinear optimization, discrete optimization, stochastic optimization, queuing theory, inventory theory, dynamic programming, simulation, applications.
These courses introduce a number of optimization methods commonly used in operations research. Nonlinear optimization, discrete optimization, stochastic optimization, queuing theory, inventory theory, dynamic programming, simulation, applications.
Many of the business systems are dynamic systems in which their states change over time. This course introduces time series models and associated methods of data analysis and inference. Topics include auto regressive (AR), moving average (MA), ARMA, and ARIMA processes, stationary and non-stationary processes, seasonal processes, identification of models, estimation of parameters, diagnostic checking of fitted models, forecasting, and spectral analysis. Real-world applications for understanding characteristics of time series data in economics, finance, management and industries, and modelling and evaluating forecasts upon which decision-making would depend are emphasized with lab on using SAS.
This course explores management, organizational, and technological issues in the ways data are stored, managed and applied in businesses. Using a simulated business, the database module covers data concepts, structures, conceptual and physical design techniques, data administration and data mining. Theory and practice of database management systems are integrated through hands-on experience with the design and implementation of a business solution. By the end of the course, participants will gain critical IT skills in analysing business processes, improving these processes, developing business applications with an industry standard database and use data for business requirements.
Representation, storage, and access to very large digital document collections: issues, data structures and algorithms. Information retrieval models including Boolean, vector space and probabilistic models. Indexing and retrieval techniques. Evaluation of information retrieval systems. Text and Web mining: content, structure and usage mining. Web search: search engines, spiders, link analysis, agents. Recommender systems and intelligent information retrieval. Information extraction and integration.
This course explores cryptographic primitives, and how these are used in building secure protocols. These include symmetric ciphers, cryptographic hashes, one-time pads, public key cryptography and pseudorandom number generators.
Note: Prescribed Elective courses of one specialization could be Unrestricted Elective courses of another specialization. On average, full-time students take 4-5 classes a week and part-time students take 2-3 classes a week.
Academic Timeline
Trimester 1
|
1st Half |
27 July 2020 to 13 September 2020 (7 weeks)
|
| 2nd Half |
14 September 2020 to 1 November 2020 (7 weeks)
|
| Trimester 2 |
1st Half |
2 November 2020 to 20 December 2020 (7 weeks)
Recess: 21 December 2020 to 3 January 2021 (2 weeks)
|
| 2nd Half |
4 January 2021 to 21 February 2021 (7 weeks)
|
| Trimester 3 |
1st Half |
22 February 2021 to 11 April 2021 (7 weeks)
|
| 2nd Half |
12 April 2021 to 30 May 2021 (7 weeks)
Recess: 31 May 2021 to 25 July 2021 (8 weeks)
|
General Admission Criteria
- A good Bachelor's Degree in a relevant programme, e.g. quantitative majors, business, etc.
- A good TOEFL score (92 or more) or IELTS score (6.5 or more) for graduates of universities in which English is not the medium of instruction.
- A good GRE or GMAT score is preferred but not required.
- A minimum of two years of relevant working experience is preferred but not required.
Applicants may upload their TOEFL, IELTS, GMAT or GRE score via the online application.
How to Apply
Medical Check-up
Enrolling students must go to the Medical Centre to do the medical check-up and obtain a receipt certifying that they are medically fit for studies. The medical examination clearance certification must be presented prior to matriculation.
Programme Fees
AY2020/2021
| Singapore Citizens |
S$35,000 + Prevailing GST |
| Singapore Permanent Residents / International Students |
S$55,000 + Prevailing GST |
All fees listed are in Singapore dollars (S$). Fees are reviewed yearly and subject to revision. Amounts quoted are exclusive of GST and subject to change.
Payment Schedule
| Deposit (non-refundable) |
Upon acceptance of offer |
S$5,350
|
| First Payment |
31 July 2020 |
S$25,000 + prevailing GST
|
Second Payment
|
Year 1, start of Trimester 2 (for Full-Time students) |
S$5,000 +
prevailing GST |
S$25,000 +
prevailing GST |
| Year 2, start of Trimester 1 (for Part-Time students) |
The MSFT programme is totally self-financed through fees collected. Service obligation option would not be extended to international students.
Note that successful international applicants must show proof of having sufficient funds for the normal duration of the MSc in FinTech programme, after accepting the admission offer. Currently, the calculation of the required amount is based on S$18,000 per year for living expenses, in addition to the tuition and miscellaneous student fees.
Financial Assistance
The Financial Specialist Scholarship (FSS) is offered by the Institute of Banking & Finance.
Prospective Singaporean students applying for the MSc in FinTech are eligible for the Financial Specialist Scholarship (FSS), offered by the Institute of Banking & Finance. Note that the deadline for the FSS application is mid-May for company-track applicants and end of February for individual-track applicants.
Click here for more information about the FSS.
Past Events
| Singapore FinTech Festival 2019 |
Singapore Expo |
11-15 Nov 2019 |
| Booth and info session in China Edu. Expo 2019 |
Shanghai World Expo ECC |
26-27 Oct 2019 |
| Booth and info session in Postgraduate Fair 2019 |
Raffles City Convention Centre Singapore |
7 Sep 2019 |
| Information and networking seminar in Singapore |
NTU Singapore |
24 Jan 2019 |
Information and networking seminar in Shanghai
|
Intercontinental Shanghai Jing' An |
6 Jan 2019 |
| Information and networking seminar in Beijing |
China World Hotel |
5 Jan 2019 |
Singapore FinTech Festival 2018
|
Singapore Expo
|
12-16 Nov 2018 |
Please follow our Facebook page @NTUMScFinTech for the details and updates of the events.
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