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If I wanted to make my own fintech company, would I have to dive into computer science or coding to create the best platform possible?

I've been curious about starting an app as this industry is fast growing.

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Jeremy’s Answer

Hi, Brian. I think it would be great to have coding and UX skills, but ultimately launching a Fintech will require a much wider spectrum of abilities and motivations. First, you'll need to know what problem you'd like to solve - what's missing in the marketplace, and do you have a solution that people will pay for? Then you'll need to develop your solution and perhaps bring on investors to help fund it. You're likely aware that finance is a highly regulated industry, so you'll need to be cognizant of the applicability of regulatory guidelines in your area of focus. And of course you will need strong communication skills to spread awareness of your solution.

Unless you are comfortable with all the aspects of developing and launching a product, Tim's advice of bringing on diverse partners that complement your skill set is great advice.
Thank you comment icon So basically to your first point, what I was thinking was an application for Financial Advisors and their clients. It’s easier for the advisor track their clients progress and the clients as well are able to keep up with their progress. Yes Tim’s advice was very helpful about bringing on people who complement my skill set, the investors idea is a good point as well. Brian
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Brian’s Answer

Hi - it would be great to equip yourself with knowledge of computer science or coding, but it depends on how you want to run your company. It can be more efficient to hire people how have superb capabilities on these areas and lead them to develop the best platforms you dreamed of. Many fintech founders have backgrounds which are not comp science or engineering, because fintech is primarily a "running a business" rather than "developing technology". As a founder, it could be more beneficial for you to study management, finance, strategy, and the likes, because you are now a business owner.
Thank you comment icon Thank you for your feedback!! Yes I’m a Finance major at Kennesaw State University here in GA, and I have an idea so I was wondering how much more knowledgeable I could be. Brian
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Tim’s Answer

As a former fintech worker, I would suggest absolutely learning a coding language and potentially taking coursework on UX/Design. These things are extremely expensive to buy and assume you won't want to pay someone right away.

The alternative is to find co-founders, if you know someone who is a product/engineering wizard, then it may be worth going into an idea 50/50. In school they taught us to find co-founders who complimented your skillsets. What skills do you bring to the table? Are you Marketing/sales, finance or product/tech?
Thank you comment icon So in that case, I should learn computer programming and coding then right? Following that, what about computer science? I know the two are different but owning a tech company I'd like to know the tech side as best as possible so I can connect with my employees as best as possible. The better the environment and connection between each other the better the company and strive for good. Brian
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Ali’s Answer

Hi Brian,

Yes, it would be a great idea to have a Comp Sci background especially if you are the one who will build the platform. But, if you have a team who will help you build this platform then you should be fine without knowing the coding behind it. There are a number of people who run tech companies that don't have Comp Sci as the background. For example, Jason Gardner had a Political Science and Business Management degree but is the Founder and CEO of Marqeta which is a Fin Tech Company.
Thank you comment icon would knowing computer programming be helpful in this case or is that the same as coding? A bit confused about the two Brian
Thank you comment icon In this case, you would want to know both as it seems that you will be person creating your own FinTech company. Here is a good article on the difference between Coding and Programming (https://www.freecodecamp.org/news/difference-between-coding-and-programming/) that can give you a better understanding of each term. Hope this helps! Ali Ahmed
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