Getting the coveted title as Chartered Financial Analyst will gradually become a little more challenging in coming years as the curriculum has been broadened to include aspects of fintech and artificial intelligence.
To get the title as Chartered Financial Analyst (CFA), applicants have to pass three tough exams, with each level taking 250 to 300 study hours. The large majority of students doesn’t make it through all levels.
And the governing body has just decided to make it a little more challenging. The CFA Institute is evaluating all tests and is adding questions regarding artificial intelligence, big data and robo-advisory, according to a report by the «Financial Times».
Back-Testing, Big-Data-Analysis, Blockchain
The new subject matter will be examined from the year 2019, according to the report. In adjusting the course content, the U.S.-based CFA Institute is responding to the developments in the banking industry, where employees need to grasp the solutions presented by the fledgling fintech industry.
Candidates for the CFA title will need to know how to simulate a performance based on investment algorithms (back-testing) and understand the limitations of big-data-analysis. Furthermore, they will be asked to describe the influence of Blockchain on the financial market and how robo advisory affects the banking consultancy business.
Banks Need Fintech Expertise
The banking industry has responded to the new challenges to their business by investing in technologies such as the Blockchain software and artificial intelligence. They also hire experts from the tech side and agree to cooperate with fintech firms. One such example is the Enterprise Ethereum Alliance (EEA), as was reported on finews.com recently.
