6 min read

What do you think when you hear FinTech? Disruption? Crypto hype? Digital wallets? Scratch beneath the surface, and you’ll find the nuances in what’s already a revolutionary force across industries. Now, with the sudden evolution of AI, data use and digital transformation, it’s crucial to study FinTech.

To cut through the noise, we sat down with Professor Guillermo de Haro Rodríguez to understand the topic. Guillermo is Vice Dean of Postgraduate Programs at IE School of Science & Technology and a respected academic with decades of experience at the intersection of technology, economics and education. So, let’s get his insights on one of the most important tech topics to date.

Myth 1: FinTech is just about coding

The name alone suggests FinTech professionals must be experts in coding. But the reality goes much deeper. “FinTech is about solving the ancient problem of trust,” says Guillermo. “It’s one of humanity’s oldest needs. The financial system—banks and everything around them—is built to solve the problem of trust. That hasn’t changed. What’s changed is how we support that exchange with technology.”

“A financial company today creates trust through communication, and then delivers services using math and technology,” Guillermo continues, highlighting that each player works towards the same basic question: Can I trust this transaction? While coding and data science are essential components, they’re only part of the equation: “A good FinTech professional is a translator—between tech and business, risk and reward, innovation and regulation.”

We now live with limited time and resources. As such, we need a system that ensures every transaction is fair. “That’s why you need skills in communication,” says Guillermo. “Some people are risk-averse, others are risk-seeking. But you need to bring them together under the same rules. In the past, you could do that with a pen and paper. Now we have Hyperledgers and digital currencies, including stablecoins.”

Myth 2: It’s all hype

Blockchain. Crypto. NFTs. The Metaverse. Many FinTech buzzwords have arisen over the years, but only a select few have maintained impact. The Master in Financial Technology focuses on that sustained value. “We always teach students to ask one thing: What real-world problem does this solve?” says Guillermo. “That’s how you separate hype from innovation. Years ago, when we studied distributed databases—several nodes holding the same data—we concluded it was too resource-intensive, inefficient, and slow. It was a theoretical idea. Then blockchain came along and made it practical. So it pays to be up-to-date on new technology.”

Guillermo goes on to explain how the program structure transcends hype. “The first term is the technological foundation,” says Guillermo. “The second focuses on practical applications and areas of FinTech. Then the third term is specialization: electives, certifications, generative AI, deep learning, NLP, quantum computing, cybersecurity and cloud infrastructure. We also offer specific courses on stablecoins, Ethereum and distributed ledgers. The electives are flexible—they allow us to explore emerging topics that may or may not reshape the future.”

In fact, the program urges students to focus on being future-proofed. “We give you the context and then the specific skills to thrive in one of the most in-demand disciplines today,” says Guillermo. “You gain the ability to work with and build technology, understand it, and move across evolving sectors.”

Myth 3: You need a tech background to study FinTech

FinTech can seem intimidating to those without a STEM background. But Guillermo emphasizes that IE School of Science & Technology is a specialist in teaching those who don’t come from a tech background.

To bridge the gap, students spend their first term gaining a foundation in technology, including the basics of computer science, how to code, and how cloud and software infrastructure works. During that time, they also learn about AI and machine learning, data structures, algorithms, databases, statistics and leadership & tech strategy. The aim? To help them understand how all of these different aspects of FinTech can impact an organization.

With the initial tech foundation done, Guillermo and the faculty expertly guide the cohort through deeper technological theory which truly specializes them in their field. “We go deeper into specific areas of financial technology,” says Guillermo. “On one side, we cover the software and data side—machine learning for finance, digital payments. Then we move into more hardware-focused topics: programming, cybersecurity, and how to build FinTech solutions. The idea is: before learning about blockchain, you first need to understand databases, networks, and code. That foundation matters.”

“If you come from a business, finance or economics background, this program gives you superpowers,” says Guillermo. “If you’ve never written code, but work hard, you’ll be able to build FinTech solutions from scratch—or at least work effectively between the technical and business worlds. This is transforming every area—investments, equities, entrepreneurship. We give you the context and then the specific skills to thrive in one of the most in-demand disciplines today. You gain the ability to work with and build technology, understand it and move across evolving sectors.”

Myth 4: AI is too complex to be useful in finance

Many aspects of the financial industry have been shrouded in mystery. However, AI can now decode some of the less accessible mathematical components: “When it comes to something like finance—credit scoring, risk assessment—where you’re granting or denying credit or a mortgage, there are legal implications,” says Guillermo. “You need to explain why a decision was made. What’s the criteria behind it? Especially because these decisions are often linked to broader systemic risks and central bank policies.”

While machine learning models and neural networks are famously opaque, they’re still a step up from the existing mathematical models—if you have a basic grasp of AI. “You need to understand what’s happening inside the model,” says Guillermo. “That’s why the program teaches students to explore topics like model explainability, ethical AI and algorithmic bias, learning how to apply machine learning responsibly in financial contexts.”

“With AI now disrupting the middle layer of the labor market, staying ahead of the curve with programs like this makes a real difference,” Guillermo continues. “It’s similar to what happened in the media industry when the internet exploded. Suddenly, everyone could publish content. It was chaotic, but it transformed the landscape. The same is happening now with AI. So even if you don’t have decades of experience, if you have the knowledge, you’re in the game. You can apply it, build with it and make a difference.”

Myth 5: FinTech is only about startups

Yes, FinTech is disruptive and fast-moving. But it’s already a mainstay in institutional practice. “One of the major turning points was the institutional acceptance of Bitcoin,” says Guillermo. “At first, almost every institution said they wouldn’t touch it. Now, most are involved in some way, because it builds trust.”

“FinTech isn’t just for startups anymore,” says Guillermo. “Traditional players like JP Morgan, Bloomberg and central banks are launching internal spin-offs and projects that need entrepreneurial thinkers. For example, when you’re working with massive amounts of data from global sources in real time, that’s where business analytics and FinTech intersect. If you need extremely fast answers, you move into high-performance computing, even quantum computing. Understanding these tools—how to use them, how to speak to the people building them—is a differentiator.”

That’s why the Master in Financial Technology features industry-leading figures from both worlds. “We have faculty from institutions like the Bank of England and the Bank of Spain. Andrew Whitford, our Academic Director, comes from Ripple. Juan Francisco Franco, who teaches our Digital Payments course, comes from Getnet—a global leader in FinTech. Gustavo Martín Vela works at Vitol—they made $330 billion revenue in commodity trading last year. That’s the kind of faculty we bring in.”

Reality: The future of FinTech is in constant flux

With a background in software, consulting, entertainment and media, Guillermo knows how to help you connect the dots—whether through bestselling books on stoicism and business, award-winning case studies, or radio segments on economic philosophy. But now you can gain his expertise on an ever-changing future at IE School of Science & Technology.

“Quantum computing is already being used by retailers and trading firms. AI is automating parts of the labor market. But none of this matters if we don’t train people to think critically and act ethically,” says Guillermo. “We might not have quantum computers in our hands yet, but businesses are already benefiting. IBM, for example, is launching a 120-qubit machine in the Basque Country. There’s another 300-qubit project in Málaga. And yes, IBM is part of our ecosystem. Our faculty includes people from IBM who teach quantum development and algorithms.”

Whatever the future of FinTech, it pays to be informed.

The Master in Financial Technology caters to a fluid future with comprehensive, global and flexible learning. You’ll be able to join mentorships with industry leaders from our global mentor network, all while participating in datathons, bootcamps and venture projects. “Ripple runs a program with us where selected students train in their tech and participate in competitions,” says Guillermo. “So students aren’t just studying—they’re building, launching and applying.”

And while it’s all forward-facing, we mustn’t forget the solid foundations that FinTech is building on. “I love The Ascent of Money by Niall Ferguson,” says Guillermo, as we tie up our chat. “There’s also this amazing book from the 17th century written by a Spaniard in the Netherlands—one of the earliest thinkers behind the financial system and the stock market. The Dutch, despite being a small country, became a global power because they understood the importance of financial innovation. They built systems for investment, repayment and capital growth. Today, we’re in a similar moment—new technologies are emerging to improve and evolve those same foundations.”