< Back to Articles

Episode 3: Discovering FinTech Talent through “FinYology - FinTech for Youth”

22 March 2021
Episode 3: Discovering FinTech Talent through “FinYology - FinTech for Youth”

Last year in February 2020, the Central Bank of Egypt launched an initiative called “FinYology - FinTech For Youth”, in collaboration with the Egyptian Banking Institute as its strategic partner, to raise awareness on FinTech among university undergrad and postgrad students, in addition to exploring young talent by encouraging and supporting the creation of innovative FinTech solutions to modern-day financial problems in Egypt.

This ongoing initiative was the subject of the third episode of the FinTech Egypt Dialogue podcast, and an excited audience sat listening attentively as moderator Hossam Mahmoud, Advisor for Startup Finance, GIZ, kicked things off and introduced the guest lineup. The three speakers attending the third session were Dr. Lamya El Ayouby, Associate Professor of Entrepreneurship at New Giza University, Mr Emad Shawky, Head of Digital Factory and Innovation at Banque Misr, and Ms. Laila El Oteifi, Senior Director, Research & Awareness Department at The Egyptian Banking Institute.

Mr Emad Shawky led the introduction phase by giving a brief overview of his role at Banque Misr, where he has been for 3 years so far. Being involved at the crossroads between technology and financial services for more than 20 years, Mr Shawky has held tenure at various financial institutions across his career, where he harnessed the power of technology to enable growth into different markets and acquire more clients for these organizations.

The moderator went on to ask Mr Shawky to elaborate on the gaps he thinks are found in the current FinTech talent market, as well as what kind of talents they have now at Digital Factory and what kind of talents they are looking to attract. He stated that, although the current team is made up of a young, unique and agile workforce that is delivering a new generation of FinTech services, he believes his organization is in need of a lot of fresh talent that will do things in a different way, but that also comes with its challenges; new graduates need to learn and research a lot to face the rapid pace of technology and its implications on the industry, typically taking up a lot of time and effort for them to prepare themselves, and he mentioned that this has been facilitated by the FinYology initiative that adds FinTech to the students’ curricula, but it is still not enough to deal with the huge potential that awaits them.

Following with Ms. Laila El Oteifi, Senior Director, Research & Awareness Department at the Egyptian Banking Institute introduced herself again to the audience, and highlighted her career which spanned more than 13 years in the banking sector. She mentioned that her research department at EBI allowed her to conduct many awareness-raising seminars, conferences and workshops on financial literacy, and the department also releases a series of periodical studies and publications covering a wide selection of critical trends and themes of the industry, in addition to organizing different training sessions and competitions for emerging bankers. When asked about the young talent at EBI, Ms. El Oteifi mentioned the various programs that they have for nurturing this talent, like finance certificates and anti-money laundering programs, and other departments like IT that handle education on FinTech, RegTech and other financial technology branches. EBI also recently launched entrepreneurship programs and an in-house business incubator that elevates students from ideation to incubation for the last couple of years. These efforts that combine business knowledge and financial awareness offer a comprehensive approach to creating the digital bankers and FinTech heroes of tomorrow, embodied in the several seminars that EBI conducts at Egyptian universities. Hosam Mahmoud asked about how students and interested people in general can follow all these efforts and get updates, to what Ms. El Oteifi replied that the EBI website contains all the information, and students can either call the institute or contact their dedicated customer support team to get answers to all their inquiries about any program offered.

Dr. Lamya El Ayouby, Associate Professor of Entrepreneurship at New Giza University, then took to the digital stage to answer a question about her journey as a FinTech educator that keeps students aware and updated with the latest FinTech trends and practices. Dr. Lamya has been teaching entrepreneurship for 10 years, and she stated that her main approach is to get her students real-world case studies that they can study and understand through a hands-on approach. Although her programs did not previously focus on FinTech but rather the business side, she was later introduced to the FinYology initiative by Dr. Rasha Negm, Head of FinTech & Innovation at the Central Bank of Egypt (CBE), after which she researched FinTech as an industry and found it to be a treasure trove for her business students. Unfortunately that passion was implemented during the ongoing COVID-19 pandemic, which has led to her conducting her lessons about FinTech online with her students, which proved to be challenging in terms of having to introduce a new, somewhat complicated topic like FinTech remotely.

Dr. Lamya also emphasized that although the current FinTech ecosystem in Egypt has been addressing many pending problems and has been greatly empowering and supporting startups, banks and financial institutions, FinTech education tends to focus on those entities while leaving out two important elements that will complete the cycle once addressed; the current level of financial literacy needs to be raised quickly, as she believes these will be the early adopters of new technologies, and also the gap in talent availability in Egypt as Mr. Shawky mentioned.

The “FinYology - FinTech for Youth” initiative has been getting traction with university students across Egypt, with more than 600 students participating in creating over 280 projects and resulting in 35 awarded internships won by students. The third episode of the FinTech Egypt Dialogue has certainly yielded some great insights and information from leading experts that can help bridge the gap between FinTech-passionate students and the required talent pool that will eventually spearhead the digital change into the next phase of FinTech solutions in Egypt.

Check out the full episode and get to know the state of FinTech talent in the market today.
https://fintech-egypt.com/webinar/

related articles

30 MAY 2023

Agri-FinTech Applications by Fresh Source

30 April 2023

4th Episode of 7areef FinTech Podcast – Supply Chain Finance

4 April 2023

FINTEKRS is for you!

4 April 2023

Banque Misr Partnership

4 April 2023

FINTEKRS Program Benefits

4 April 2023

FINTEKRS 2nd Round- Assuit

2 April 2023

3rd Episode of 7areef FinTech Podcast – Digital Payments

9 March 2023

2nd Episode of 7areef FinTech Podcast – ROSCA

14 Feb 2023

1st Episode of 7areef FinTech Podcast - FinTekrs Introduction

13 Feb 2023

Are you interested to be “7areef FinTech”?!

12 Jan 2023

“FinTech Egypt” Launches the First Digital Academy to Upskill the Workforce Skills in the Banking, Financial, and FinTech Sector

18 Dec 2022

FINTECH IS EGYPT’S NEXT BIG OPPORTUNITY..Catch up with FINTEKRS

18 Dec 2022

The Future is FinTech..JOIN FINTEKRS NOW!

18 Dec 2022

FinTekrs’ Alex Round Sponsor

18 Dec 2022

FinTech Worldwide Statistics...FINTEKRS is Not-To-Miss!

6 Dec 2022

Who Can Apply to FINTEKRS

6 Dec 2022

Knowledge from FINTEKRS!

6 Dec 2022

4 Reasons to Join FINTEKRS!

6 Dec 2022

Launching FINTEKRS

19 June 2022

FinTech Egypt releases its FinTech Investments-focused H1 2022 Landscape Review “Why Egypt is a promising market for FinTech Investments?”

26 June 2022

The Women Techsters Initiative Fellowship Class of 2023

10 June 2022

We're bringing top LPs and GPs from around the world

10 June 2022

The Egyptian FinTech ecosystem is booming

10 June 2022

We've joined forces to bring the best LPs and GPs together

9 June 2022

We're taking a closer look at Egypt

9 June 2022

Come and join the key players in the Middle East & Africa’s VC market

8 June 2022

Connect with Egypt

8 June 2022

Frontier of Egypt, Africa & the middle East in the 2022

8 June 2022

Egypt’s First VC Summit kicks off in partnership between GIZ Egypt, AfricaGrow and Fintech Egypt

21 March 2022

BANQUE MISR, NATIONAL BANK OF EGYPT, AND BANQUE DU CAIRE LEAD INVESTMENT IN NEW FINTECH FUND

21 March 2022

The Increasing Influence of Women in FinTech

23 January 2022

FinTech Egypt is releasing the first comprehensive report of its kind providing an overview of the unprecedented growth of FinTech in the Egyptian market

4 January 2022

5 FinTech Trends to Follow in 2022

13 December 2021

How FinTech is Disrupting an Age-Old Industry

13 December 2021

RESHAPING FINTECH WITH AI: TOP AI INNOVATIONS IN THE FINANCIAL INDUSTRY

6 September 2021

Accelerate’ha’ Female-Focused Problem Statements Now Live!

6 September 2021

Breaking Entry Barriers for Women in FinTech

6 September 2021

Have Traditional Banks Realized the Full Potential of Fintech By Now?

9 June 2021

Episode 5: Accelerating FinTech Innovation through Open APIs

21 April 2021

Episode 4: Understanding Blockchain’ s Potential in Disrupting FinTech

25 February 2021

Episode 2: The Current & Future state of FinTech during COVID-19

25 February 2020

FinTech Egypt Dialogue podcast launches its first-ever session about E-KYC Regulations and Regulatory Sandbox

6 April 2020

Where does Artificial Intelligence fit in FinTech?

10 March 2020

Critical FinTech Questions That Only the Near Future Can Answer

2 Sept 2019

Special Interview With Dor-E, Winner Of The AI-Customer Experience FinTech Innovation Challenge

2 Sept 2019

Egyptian Banking Institute Announces “The Future Of FinTech And Latest Digitalization Trends” Field Trip

1 Sept 2019

Artificial Intelligence Is Transforming Banking As We Know It

1 Sept 2019

Artificial Intelligence Is Transforming Banking As We Know It

30 July 2019

Hub71 Partners With Techstars In Launching An Accelerator Program To Boost Startups

22 July 2019

FINTECH IN THE SAVANNAH: Afro-Asia FinTech festival 2019 that took place in Nairobi Kenya

22 July 2019

How Machine Learning Supports Credit Profiling

10 July 2019

The Central Bank of Egypt’s Regulatory Sandbox started its first cohort in “e-KYC” to empower the FinTech ecosystem in Egypt.

9 July 2019

Dubai Smart City Accelerator invites Egyptian startups to join Cairo Fast Track

3 July 2019

Calling All Egyptian FinTech Startups To Participate In The Afro-Asia FinTech Festival!

25 June 2019

Paynas Wins Big At Seamless North Africa 2019

11 June 2019

Seamless North Africa 2019

11 June 2019

Announcing The Inaugural AFI FinTech Showcase

11 June 2019

Fintech Trends In 2019 - Blockchain Adoption

11 June 2019

Discounted Start-Up Passes

FinTech Newsletter

Sign up to our newsletter to stay up-to-date on the latest fintech news and events.

Subscribe