As fintech continues to transform the financial sector, professionals must embrace continuous education and upskilling to stay ahead. With rapid technological advancements, it’s essential for individuals to regularly update their expertise to effectively harness new financial technologies.
Ehsan Razavizadeh, managing director of MENA and Asia at LIBF, is a passionate advocate for the transformative power of education in shaping the future of the fintech industry. He stresses the importance of continuous learning as well as upskilling for a vibrant banking and finance sector.
In this discussion, Razavizadeh highlights how LIBF is making a significant impact within the banking sector through pioneering educational initiatives. He also explores the evolution of the institute and the promising future that lies ahead for LIBF in the MENA region.
Can you provide an overview of LIBF MENA and its mission in the region?
LIBF MENA provides education and training for banking and financial services professionals across MENA. Established in the City of London in 1879, LIBF remains the only professional body in banking and finance with degree-awarding powers.
Our mission is to empower people around the globe with the most personalised education, enabling them to grow both personally and professionally. The vision is for everyone to have access to education to grow. Our Abu Dhabi office supports bespoke skills development in finance, offering professional qualifications like the Certificate in International Trade and Finance (CITF) and advanced degrees such as the MSc Banking and Finance.
What are some key trends in the fintech industry that professionals in the MENA region should be aware of?
Banking was one of the first industries to embrace the benefits of computerisation, back in the 1960s when they introduced centralised ledgers on mainframes. Banking and finance are still at the forefront of digital advances. Think of digital payments and the disappearance of cash. Think of banking apps on your phone. Both have brought huge efficiencies that we already take for granted but there are also many other developments that are less obvious. The use of generative AI and of machine learning will accelerate work inside firms that consumers don’t (and shouldn’t have to) think about, including preventing fraud, boosting compliance with financial regulation, and streamlining code development.
We are adopting AI in education, making quality and innovative education available to everyone. Our digital and fintech courses help industry professionals upskill themselves in these areas.
What are the biggest challenges in promoting financial education in the MENA region, and how has LIBF addressed them?
The fast-changing fintech landscape requires professionals who understand both technology and traditional banking principles. LIBF addresses these challenges by offering courses taught by leading industry expert faculty and providing participants with access to industry guest speakers and current case studies. This approach ensures that future bankers can support financial inclusion and business growth effectively.
How does LIBF ensure its fintech courses stay relevant in a rapidly evolving industry?
With more than 140 years of heritage, LIBF stands at the forefront of thought leadership in banking and finance. Our deep industry roots and expert faculty ensure our courses remain cutting-edge. We actively participate in leading fintech events in the MENA region, staying abreast of global trends and sharing our insights. A key innovation is our partnership with IU International University of Applied Sciences, introducing Syntea, an AI learning companion. Syntea engages students in Socratic dialogue, providing personalised and interactive learning experiences that reflect the latest industry advancements.
What guidance would you offer to someone looking to upskill at LIBF and considering a career in fintech?
Choosing LIBF means embarking on a transformative educational journey that combines comprehensive theoretical knowledge with deep industry insights. We emphasise practical experience and extensive networking opportunities, vital for understanding and thriving in the banking sector.
Our programmes and qualifications enable participants to integrate diverse skills and knowledge to address real-world challenges. Additionally, our array of offering is designed to foster innovation, critical thinking, and adaptability, providing participants with a unique edge in their careers. By engaging with industry leaders and participating in dynamic projects, our participants are well-prepared to become future leaders in fintech.