Business college adds pair of minors

September 1, 2021

The University of North Georgia's (UNG) Mike Cottrell College of Business has added minors in financial technology (fintech) and machine learning to prepare students for success in a fast-changing landscape.

Payment processing firms in Georgia handle 70% of all U.S. credit, debit and gift card transactions, according to the Georgia Department of Economic Development. The fintech industry generates annual revenue of more than $72 billion for more than 50 companies in the state's "Transaction Alley," according to the department.

"One of the goals of the college is to expose students to opportunities for high-profile careers," Dr. Mary Gowan, MCCB dean, said.

The fintech minor operates through UNG's partnership with the Georgia FinTech Academy, which works with the fintech sector to help learners find specialized educational experiences needed to enter the growing field regardless of where they live in the state or the institution in which they enroll. The academy benefits all 26 University System of Georgia (USG) institutions with UNG joining the partnership in 2019.

"Georgia has become a hub of this emerging industry," Dr. Maryna Murdock, associate professor of finance, said. "It's important for students to have these essential skills."

Murdock co-taught the foundations of fintech course through the academy this spring.

"It helps students know how to bring their companies into the 21st century," she said. "Students will gain a bird's-eye view of the fintech industry and understand the language of it."

Dr. Ash Mady, assistant professor of computer science, said the knowledge gained through a fintech minor can apply even in careers such as accounting.

"To become qualified, you have to be part-technologist in this business," Mady said. "We are educating our students to be part of this digital transformation of industry."

The machine learning minor connects students to technology that can exponentially increase the speed of data processing across numerous industries. Machine learning, which is used to equip artificial intelligence, is applicable in every field that works with data.

"Machine learning allows systems to learn from data, recognize patterns, and make decisions with limited human intervention. Self-driving cars, facial recognition, online recommendations, cybersecurity protection, and fraud detection are few applications enabled by machine learning," Mady said. "Machine learning allows the automation of very complex business processes. This program enables our students not only to participate but also to lead artificial intelligence initiatives in a very exciting future."

Gowan said the Cottrell Center for Business, Technology & Innovation, scheduled to open in fall 2022, will provide high-tech labs for students to acquire the knowledge and skills they need for careers in these fields.

"Preparing students for the technology workforce is already a strength of the college," Gowan said. "These new minors are another way we are ensuring our students are prepared to be leaders in their chosen career fields."