Singapore's First Career Conversion Programme For FinTech Talents

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Singapore's First Career Conversion Programme For FinTech Talents

Introduction

Singapore is making a bold move to tackle the shortage of FinTech talent in the country with its first-ever career conversion programme. The Attach-and-Train Career Conversion Programme (CCP) seeks to upskill and convert professionals from other industries into the FinTech sector, providing them with valuable skills for future success. This initiative will provide an opportunity for people to take their careers in a new direction, opening up potential opportunities that were previously unavailable.

FinTech, or ‘financial technology’, is the use of technology to provide financial services and products. It has become increasingly important in Singapore over the past few years as more businesses and consumers look for faster, more secure ways to access financial services in a digital world. FinTech has allowed for greater innovation across the financial sector, providing customers with better services and new opportunities. As a result, Singapore has seen an influx of FinTech companies setting up shop in the city-state due to its favorable regulatory environment and growing demand for digital solutions.

Check out first FinTech Talent Programme here as designated by collaboration between Workforce Singapore (WSG) and the programme partner, Singapore FinTech Association (SFA).

We will be discussing the programme details later in the article.

The programme consists of a series of courses that cover essential topics such as data analytics, coding in Python, software testing, financial modelling and project management. Participants will also get access to dedicated mentorship from experienced professionals in the field to help them make their transition into FinTech smoother. Additionally, programme participants have the option of taking part in exclusive hands-on experience or job shadowing experiences at various FinTech companies in order to gain practical experience in the field.

What Is Required For This Programme?

First thing first, let's go through the details briefly. What will you receive from this 9-month programme?

You know that success in the field of Software Quality Assurance starts with a curriculum that is designed for industry relevance, right?

If You Are A Qualified Candidate, What Can You Expect?

You can see the programme is supported in collaboration with key industry players to ensure that the curriculum is tailored to meet the changing demands of the industry. With this, you can be confident that you're receiving a comprehensive education that will prepare you for the challenges of your future as a Software Quality Assurance Specialist.

Throughout the programme, you'll receive dedicated instructor support from experts in the field. Every instructor is committed to helping you succeed and will provide guidance, feedback, and support every step of the way.

What else? Have you heard of community-based learning approach? This is another aspect that sets this programme apart. With the support of like-minded individuals, you'll be able to learn faster and tackle challenges more effectively. You'll also have access to a network of experts who can provide you with support, advice, and tips.

Cost And Programme Breakdown

Among other CCPs, this 'Foundation In Software Quality Assurance' is comprised of a full-time blended training (learning of courses mentioned before) and an attachment with one of hosting companies (as per recruitment).

In the table below, you can review how the cost payment, totalling for the whole programme, works for three categories of qualified candidates.

Eligible CategoryCourse Fee (Before GST)Course Fee (After GST)
Singaporeans aged < 40 qualified for SkillsFuture Funding$19,332$5,745.90
Singapore Permanent Residents qualified for SkillsFuture Funding$19,332$5,799.60
Singaporeans aged 40 & above qualified for SkillsFuture Mid-Career Enhanced Subsidy$19,332$2,165.90


To directly apply on the website and for full read on pre-requisites, check here.

Here's a step-by-step guide to help you through the application process:

Step 1: Click on the "Apply Now" button to get started.

Step 2: If you're eligible, the next step is to complete an entry test. This test will help to understand your current level of knowledge and ensure that the programme is the right fit for you.

Step 3: If you pass your entry test, you'll be able to schedule an interview with admissions team. This is your chance to ask questions, discuss your goals, and learn more about the programme.

Step 4: After your interview, admissions team will review your application and make a decision about whether to offer you a spot in 9-month programme. If you're accepted, you'll be on your way to becoming a Software Quality Assurance Specialist!

Hosting Companies: Career Conversion Programme's Esteemed Partners

Ngee Ann Polytechnic has teamed up with Tribe - empowering the next generation of talent through comprehensive recruitment and management!

Ten FinTech companies, including NETS and YouTip, have committed to onboard mid-career individuals as part of their hiring plans.

This shows that the career conversion programme is backed by a wide range of stakeholders from various levels of the FinTech industry, which indicates that it is supported and endorsed by many in the field. This gives potential participants more confidence that this programme will lead them to success in their new careers.

Why Software Quality Assurance is Important in Singapore's 2023 Fintech Scene

In Singapore's thriving fintech industry, it's essential to ensure that software products meet the highest standards of quality. The city-state is home to a vibrant and fast-evolving fintech landscape, with numerous startups and established financial institutions leveraging cutting-edge technologies to drive innovation and create new products and services.

However, with technology moving at breakneck speed, ensuring the quality of software products has become increasingly challenging. In such a fast-paced environment, it's essential to invest in software quality assurance to ensure that software products meet customer needs and regulatory requirements.

Here are some reasons why software quality assurance is critical for fintech firms in Singapore:

Customer satisfaction

In the fintech industry, customer satisfaction is key to success. Customers expect reliable, efficient, and secure financial products and services. Software quality assurance ensures that software products meet customer needs and are free from errors, bugs, and vulnerabilities. High-quality software products lead to improved customer satisfaction, which translates into repeat business, referrals, and positive reviews.

Regulatory compliance

The Monetary Authority of Singapore (MAS) oversees Singapore's financial industry and imposes strict regulations to ensure financial stability, consumer protection, and anti-money laundering (AML) compliance. Fintech firms must comply with these regulations to operate legally and avoid hefty fines and penalties. Software quality assurance ensures that software products meet regulatory requirements and are free from compliance risks.

Cost savings

Software quality assurance helps fintech firms save money in the long run. High-quality software products require fewer bug fixes, patches, and updates, resulting in lower maintenance costs. Furthermore, detecting and fixing software defects early in the development is less costly than fixing them later or after deployment.

Competitive advantage

In the highly competitive fintech industry, software quality assurance can give firms a competitive edge. High-quality software products differentiate firms from competitors and create a positive reputation. Customers are more likely to choose fintech firms that offer reliable, efficient, and secure software products.

Benefits For FinTech Talents

Career Conversion Programme provides a range of benefits for learners who are interested in pursuing a career in the FinTech industry. For example, from this first programme, SQA skills can lead to more job opportunities in the FinTech industry, as companies increasingly prioritize quality assurance and testing as part of their software continuous development processes. This means that learners who possess SQA skills are more likely to be in high demand roles and can command higher salaries.

Secondly, SQA can help talents develop critical thinking, problem-solving, and communication skills. These skills are highly valued in the FinTech industry, where software development teams need to work together effectively to deliver high-quality products. SQA involves testing software products to ensure that they meet customer needs and regulatory requirements, which requires a deep understanding of the software development process and strong analytical and communication skills. These skills can help learners become valuable team members in the FinTech industry and can lead to career advancement opportunities.

In turn, these talents who possess SQA skills can benefit the FinTech industry by helping to ensure that software products are of the highest quality. In the fast-paced world of FinTech, software products need to be reliable, efficient, and secure to meet customer needs and regulatory requirements. SQA skills can help learners to identify and prevent potential issues before they become problems, resulting in improved customer satisfaction, regulatory compliance, and cost savings for FinTech companies. By possessing SQA skills, learners can play a key role in shaping the future of the FinTech industry and driving innovation and future growth.

Conclusion

Investing in software quality assurance is a wise business decision for fintech firms in Singapore's fast-growing fintech industry. With Singapore's First Career Conversion Programme coming to your digital doorsteps, you'll gain the skills and knowledge you need to succeed in this dynamic and challenging field.

Don't wait - apply now and take the first step towards a rewarding career in FinTech industry!

But that's not all! We've got plenty of other articles and resources on our website to help you learn more about different programmes and grants offered in Singapore. So why not take a few minutes to explore our blog and discover all the ways we can help you achieve your goals?

Frequently Asked Questions

What is structured blended learning and how is it conducted?

The structured training programme involves blended learning with both in-person and self-directed learning sessions. In-person sessions are conducted at Ngee Ann Polytechnic, Singapore from 9 am to 6 pm. This learning method ensures a comprehensive understanding of the subject matter.

Is there any programme withdrawal policy?

Participants are required to provide a written notice one month in advance with reasons for withdrawal to SFA and the Hosting Company. The monthly training allowance may be pro-rated, withheld, or clawbacked. If you withdraw during the first 3 months of structured training, Ngee Ann Polytechnic’s course withdrawal policy applies. Read here.

Will I receive certificate upon programme completion?

Upon completion of the programme, you will receive a certificate of completion from Ngee Ann Polytechnic if you fulfill the attendance requirement and pass all assessments.

Additionally, SFA will issue a certificate for completing the FinTech Talent Programme at the end of the 9 months if all requirements of the programme are met. Moreover, you may opt to pursue industry-recognised external certifications such as ISTQB Certified Tester Foundation Level (CTFL) and Certified Scrum Master (CSM) I.

Who are the hosting companies? What can I expect from them?

There is a partnership with 10 Hosting Companies, check here, to provide job attachments for successful programme participants. This will give participants an exclusive opportunity to work on real projects alongside industry experts.

You will receive guidance, feedback, and mentorship throughout the 6-month attachment period. Eligibility for attachments with a Hosting Company will be contingent on your performance during the interview and selection process.

Can I opt out of the 'attachment' part from the programme?

The 6-month on-the-job training attachment is a mandatory component of the FinTech Talent programme. This ensures that participants gain exclusive hands-on experience and an inside look into a typical life as a Software Quality Assurance Specialist. If you are hired before the start of the attachment, you will not have to proceed with it.

Read also: Navigating Singapore's Budget 2023: What Businesses Need to Know

Read also: Career Conversion Programme (CCP) For SME Executives- Up to 90% Salary Support For Newly Hired

Read also: 2021 EDITION: SGUnited Mid-Career Pathways Programme: More Than 13,000 Job Attachments Available for Mid-Career Job Seekers and SMEs


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