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FinTech Cost

Common Fintech Tools & Pricing

FeatureToolCostNotes
Stripe API~2.9% + 30¢ per chargeStandard payments pricing — free to integrate, pay per transaction
PlaidUsage-basedBank account connections — free dev sandbox, paid in production
Python + SQL stackFreeOpen source — the working analyst + engineer toolkit
Bloomberg Terminal~$25k/yr per seatTraditional finance reference data; many fintechs avoid it entirely
Master Financial Analysis at Noble Desktop

Noble Desktop's Financial Analyst Training Program covers Excel, financial modeling, accounting fundamentals, and the analyst toolkit employers in finance, banking, and corporate roles hire for.

Explore the world of financial technology (FinTech) and its potential for a thriving career. Learn about its cost, essential programming languages needed, and the various classes and career paths available.

Key Insights

  • FinTech refers to financial technology, encompassing services, products, and companies that specialize in financial services. Some notable FinTech companies include Apple, Google, Venmo, Stripe, and Robinhood.
  • FinTech services and products include mobile banking, digital lending and credit, financial advisory services, and cryptocurrencies.
  • Learning FinTech can be cost-efficient upfront, with open-source languages like Python and Java which are free to use. There are also free online seminars and tutorials available.
  • Noble Desktop offers comprehensive bootcamp and certificate programs for FinTech, which can be completed within four weeks to four months.
  • FinTech careers range from cybersecurity professionals to software developers and financial analysts. The sector offers opportunities in data science, banking, finance, insurance, wealth management, and cybersecurity roles.
  • Salaries for FinTech positions vary widely, depending on the specific role, level of experience, and the company. However, given the high demand for FinTech skills, they tend to be competitive.

The cost of FinTech products and services varies from product to product and company to company. Many companies reward customers for using their free products or services: Starbucks and other retailers offer reward points after multiple purchases, and even banks and credit cards often provide point systems.

On the other hand, companies like PayPal have historically charged processing fees, and banks offset their interest and point costs by charging overdraft fees, minimum monthly balance fees, or other surcharges.

Learning FinTech can be inexpensive upfront—open-source languages like Python are free to use, and many online seminars and tutorials are available for free—but training for a FinTech career will inevitably have a price. Consider first what area of FinTech you want to learn.

What is FinTech?

FinTech refers to financial technology. Multinational corporations like Apple and Google offer FinTech services, but many smaller companies specialize in FinTech products and services. Some companies classify themselves as FinTechs such as Venmo, Stripe, and Robinhood.

Banking as a Service (BaaS), PayPal’s platform, and Ethereum’s platform may be referenced as products or services, depending on the source. While the term FinTech can encompass a bewildering array of services, products, and companies, consider all financial technology under the FinTech umbrella. Mobile banking, digital lending and credit, financial advisory services, and cryptocurrencies all fall into the category of FinTech.

Read more about what FinTech is and why you should learn it.

What Can You Do with FinTech?

FinTech refers to the many Financial Technology products and services you can use today and some of the companies that offer them. Think of FinTech as an umbrella term for three main categories:

  1. Services—On a basic level, many FinTech services may be considered products, and vice versa. PayPal is a service, but the platform it offers may be considered a product. To simplify matters, look at services that are now commonly provided and named as such: Banking as a Service (BaaS), payment services like Venmo, and investment services like Robinhood.
  2. Products—FinTech products range from the payment app you use on your smart device every day to robo-advisors and digital banking. Currencies aren’t typically referred to as products, but cryptocurrencies certainly fall into the product category as opposed to a service.
  3. FinTech Companies—Organizations like Visa and Mastercard top the list of major FinTech companies in the U.S., followed by Tencent and Ant Financial in China, with U.S. companies like Intuit, PayPal, and Stripe next. These firms offer FinTech products or services, and people often refer to the companies themselves as “FinTechs.”

Additional FinTech products, services, and innovations include wealth management, insurance (aka “insurtech”), and credit reporting/identity theft protection services.

In-Depth Review of the Cost

Python ranks at the top of many lists as the number one programming language for FinTech positions. From data science pros to cybersecurity experts, FinTech roles require Python training.

Fortunately, this essential language is free, and not only on a trial basis. Python’s open-source status means its libraries and frameworks are only a click away.

Java, another popular programming language for FinTech pros, is also free to use. These top languages, with their easy accessibility and strong support communities, should be the first stop for anyone analyzing the cost of learning FinTech.

Free online seminars and tutorials provide another source of education for learning FinTech. Noble Desktop's "Intro to Python Fundamentals" and "Get Started in Data Science" seminars provide training on the advantages of open-source software, how to analyze datasets, and how to use tools like Anaconda and Jupyter Notebook.

Once you grasp the essentials, explore formal training options like a comprehensive bootcamp or certificate program.

Why Learn FinTech?

Most people have varying degrees of familiarity with FinTech services and products like Apple Pay, Venmo, and PayPal. But knowing how to use Starbucks Rewards is a far cry from learning how to build FinTech applications.

When someone says they want to learn FinTech, their intention can differ vastly from another person who says the same thing. FinTechs like Mastercard and Visa need cybersecurity professionals, as do banks and other financial institutions that offer FinTech services. On the other hand, tech giants like Apple and Google may focus more on developing new products in addition to those they already provide.

The world of cryptocurrency and the blockchain may still be more of a Wild West than traditional banking, but startups in this sector require everyone from Software Developers to Financial Analysts.

Whether you plan a role in data science, banking, finance, insurance, wealth management, or cybersecurity, FinTech will undoubtedly play a role. Whichever way you go, consider FinTech as a factor.

Read more about why you should learn FinTech.

Free Introductory FinTech Course Online

If you’re not yet ready to commit to a full-length course, you can start learning about FinTech for free online. Check out Noble Desktop’s Get Started In Data Science seminar or their Intro to Python Fundamentals seminar. In these free introductory courses, you’ll learn about subjects like data science, practical uses of Python, and how to analyze datasets, among others.

Additional course providers who offer free online classes include Global FinTech Academy and FBS Markets, Inc. You’ll find offerings on topics like Regulatory Technology (RegTech), FinTech applications, and FinTech Law and Policy, to name a few.

Read about more free FinTech videos and online tutorials.

Learn FinTech with Hands-on Training at Noble Desktop

Some people think there’s only one path to training for a FinTech career: a lengthy degree program. However, other alternatives exist. Among the most popular is the bootcamp or certificate training model.

Noble Desktop is a leading provider of online education in areas directly relevant to the booming FinTech field. They provide multiple educational options for students, both those who are new to FinTech and others already working in tech. The following are some of their most popular programs.

  1. FinTech Bootcamp—This comprehensive FinTech course is open to beginners and can be completed in four weeks full-time or four months part-time. Topics include SQL and Python for data science, automation, and machine learning.
  2. Python for Finance Bootcamp—The 18-hour Python for Finance Bootcamp acquaints students with financial models, managing portfolios with Python, and other Python-centered topics. Students can save by taking this class as part of the FinTech Bootcamp. See course listings for prerequisite information.
  3. Financial Modeling Bootcamp—A 21-hour program, the Financial Modeling Bootcamp includes topics like Discount Cash Flow (DCF), Leveraged Buyouts (LBO) Modeling, and financial analysis with MS-Excel. Check course listings for details, including prerequisite information.

Other Noble Desktop programs to consider are the Python Programming Bootcamp, Data Science Certificate, and Python for Data Science Bootcamp.