While other industries have experienced pronounced changes in the past year forced by the pandemic and reliance on digital technologies, heavily regulated industries like financial services are harder to disrupt. However, this does not mean that it is not changing. In fact, technology has cultivated new habits and norms such as the use of mobile banking and e-wallets. The financial services industry is evolving, therefore, creating the need for graduates and professionals who are ready for these new trends.
Khairul Nizam (left), Chief Executive Officer of the Finance Accreditation Agency and Dr Joseph Lee, Vice Chancellor of INTI International University, at the signing of a Memorandum of Cooperation between FAA and INTI that will strengthen the quality of finance programmes and promote talent development in the Financial Services Industry.
In line with its continuous efforts to produce career-ready graduates, INTI International University has recently signed a Memorandum of Cooperation (MoC) with the Finance Accreditation Agency (FAA) to strengthen the quality of finance programmes and promote talent development in the Financial Services Industry (FSI).
Under this collaboration, the FAA will accredit finance programmes under INTI International University’s Faculty of Business, Communication, and Law to ensure that they meet FAA’s standards and quality framework for accredited academic programs.
“This partnership is an added value for INTI as we work with reputable institutions and industry players to produce talent to cater to the increasing demand for experts in the financial sector. We also share the same goal as FAA, which is to foster lifelong learning and encourage the upskilling and reskilling of talent.
“Together, we can make sure finance programmes for students at INTI are in line with industry standards and the overall national requirement,” said Dr Cheng Siang Liew, Dean of INTI International University’s Faculty of Business, Communication, and Law.
Dr Cheng Siang Liew (second right, back row), Dean of the Faculty of Business, Communication, and Law at INTI International University, Prof Dr Murali Raman (right, front row), Deputy Vice Chancellor of INTI International University, Dr Joseph Lee (second from right, front row) Vice Chancellor of INTI International University, and Khairul Nizam, chief executive officer of the Finance Accreditation Agency (FAA), pose with other delegates after the signing of a Memorandum of Cooperation between INTI and FAA recently.
According to Dr Liew, the MoC will also allow INTI to award credit transfer through the Accreditation of Prior Experiential Learning for Credit Award (APEL C) to employees in the financial services industry based on their work experience.
“This is an advantage for working adult students as it recognises the knowledge they have gained from years of experience working, thus eliminating redundant learning and reducing the cost and duration of completing their studies. This applies to conventional finance degree programmes such as the Bachelor of Banking and Finance, Bachelor of Financial Planning, and Bachelor of Accounting and Finance. There may also be options for micro-credentialing in the future,” he explained.
Meanwhile, in keeping with FAA’s mandate of driving excellence in the financial services industry, the agency aims to promote lifelong learning among industry professionals. FAA Chief Executive Officer Khairul Nizam emphasised that recognition of experiential learning for industry professionals is an advantage of the partnership with INTI.
“With INTI’s flexible offerings, including online and distance learning programmes, this will greatly benefit the industry professionals who do not need to leave their jobs. FAA also hopes to promote collaboration between INTI and the industry’s professional training providers to offer additional certifications to students to enhance their competencies. This is in addition to the joint hosting of events to promote quality learning in the financial services industry,” he concluded.