My commitment is driven by a vision for the future where education in Latvia is held in such high regard that local universities become the preferred choice over prestigious institutions abroad, creating a legacy that my children and future generations can benefit from.

The field of financial technology (FinTech) is undergoing a period of rapid transformation, poised to significantly impact the future landscape of global finance. The emergence of novel technologies, like blockchain and artificial intelligence, is disrupting traditional financial services and reshaping the way financial products are delivered and consumed. As someone who has been working in the FinTech sector for years, I’m excited to contribute my expertise and experience as part of the team at Baltic Finance Center (BFC) of RTU Riga Business School as we develop a new FinTech business education curriculum for both bachelor’s and master’s level programs to not just be implemented at Riga Business School, but available for integration across Latvia.

This curriculum aims to equip students with the knowledge and skills they need to thrive within the dynamic and ever-evolving FinTech ecosystem, laying a solid foundation for aspiring FinTech specialists, leaders, and potential founders.

What We Set Out to Achieve

However, crafting a truly effective FinTech education model presents unique challenges. One of the first hurdles we faced was precisely defining the scope of a FinTech course. FinTech itself encompasses a diverse array of sectors with no universally accepted definitions. The field is constantly evolving, and its boundaries remain fluid.

To address this challenge, the course curriculum is designed to be flexible. This course architecture allows the curriculum to adapt to these ongoing changes while maintaining educational coherence. New developments and emerging trends within the FinTech landscape can be readily incorporated, ensuring students are equipped with the most up-to-date knowledge and skills needed for a successful career in a FinTech company or founding a new FinTech company at any time and market condition.

While staying current with industry trends is vital, a solid educational foundation is equally important. The course curriculum achieves this balance by incorporating world-class materials from reputable sources like Harvard Business Review and the Case Center. These resources are not simply presented in isolation, but are meticulously integrated with established academic frameworks and concepts by myself and other curriculum developers. This integration ensures that students develop a strong theoretical grounding tailored to the specific dynamics of the FinTech domain.

Taking Student-Centered Pedagogy Seriously

We challenged ourselves to move away from the limitations of traditional lecture-based teaching as much as possible, so we prioritized an engaging and interactive classroom experience that makes learning very practical. This pedagogical approach emphasizes activities that leverage the expertise of instructors, guest speakers, and students’ experience. This way our students gain diverse, real-world perspectives along with a strong academic base. Additionally, industry experts not only reinforce the course content but also inspire our students by sharing their journeys and practical insights.

All these components together ensure that course content remains grounded in established academic principles while also providing students with the up-to-date practical knowledge, skills and inspiration they need to succeed in the FinTech industry. Striking this balance is the most essential for a course that is both intellectually rigorous and relevant to the real world, so we employed creative approaches and innovative techniques to elevate the standard of education and put this all together. Our aim is not just to teach but to inspire and lead by example in the academic community.

Our Iterative Course Development Philosophy

While there are already first students who have completed the course, we embrace an iterative approach to further curriculum development to make it even better. During the piloting of these new courses, we actively collected student feedback and adapted the curriculum accordingly to try to exceed expectations. This hands-on approach helps us fine-tune the course content and delivery to better meet educational goals and ensure the curriculum remains dynamic and continuously improving. It is like developing this course as a FinTech startup – creating a pilot project, getting fast feedback from users and continuously improving it at a fast pace to make it gradually better and better. Such an approach has already received very high course evaluations from students, which drives us to create the next iterations even better to provide even more to the students.

It is no secret that the creation of the first top-notch educational offerings requires dedication and a clear vision for the future. For me, the commitment to build a strong FinTech curriculum is driven by a desire to elevate Latvian universities to a level where they stand as preferred choices for talented students. This ultimately contributes to a lasting legacy from which future generations of students and the Latvian economy as a whole can benefit. This all comes at the expense of finding the time and energy to invest in creating high-quality educational offerings amidst a demanding professional and family life. Still, I believe it can pay off significantly for society as a whole in the long term.

By prioritizing a blend of academic rigor, usable, practical, real-world experience, inspiration and innovative teaching methods, we want to equip future leaders with the tools they need to not only navigate the complexities of the FinTech landscape but also shape its future trajectory.

Nauris Bloks, Education Stream Lead at Baltic Finance Center