By Bimaljeet Singh Bhasin -CEO, Skilling and Higher Education Business, Adda247
The BFSI sector (Banking, Financial Services, and Insurance) in India is in the midst of a historic transformation. It is not just the growth trajectory of the industry that is making headlines, but also the way it is reimagining its workforce through upskilling and online education. As India positions itself to become one of the top three domestic banking sectors globally by 2050, the sector’s ability to nurture and adapt talent is proving to be its biggest strength. With 2.5 lakh permanent jobs expected to be created by 2030, especially in Tier II and III cities, the BFSI sector is building the workforce of tomorrow through digital-first learning, new-age skills, and specialised online degree programs that bridge gaps between education and employment.
Digital-first learning
The rapid digitalisation of financial services has made online education a powerful enabler for skill development. Institutions are partnering with edtech platforms to provide modular learning, micro-credentials, and advanced online degree programs that match industry needs. The days when traditional qualifications alone sufficed are gone. Today, bankers, insurers, and wealth managers are sharpening their expertise in areas like data analytics, risk modeling, and Generative AI, all through flexible and accessible learning ecosystems. This democratization of education is also giving rise to talent from India’s heartland, with nearly 48 percent of new roles emerging in Tier II and III cities, where online education is opening doors for aspirants previously left out of the financial mainstream.
Future-ready skills
As technology reshapes customer expectations, the BFSI sector is placing huge importance on specialised skills. Reports suggest that 50 percent of the skills required in this industry by 2027 do not even exist today. This makes upskilling a non-negotiable priority. Areas like AI and automation, including Robotic Process Automation, are now core to banking operations, with nearly 80 percent of financial leaders already deploying or planning to deploy RPA. Similarly, the rise of ESG compliance, digital wealth management, and new investment frameworks like AIF and PMS have created job roles that demand deep technical as well as regulatory understanding. Generative AI is being explored not just for customer interaction but also for risk assessment and fraud detection, signaling a future where technology and human expertise blend seamlessly.
Cybersecurity imperative
One of the sharpest challenges facing the BFSI sector is cybersecurity. The rise in digital transactions has made financial institutions vulnerable to sophisticated threats, with ransomware incidents increasing by over 300 percent. Upskilling in advanced cybersecurity, ethical hacking, and fraud detection has become essential to safeguard trust. Insurance firms illustrate the payoff from such investment, with 78 percent prioritising workforce upskilling and reporting a 30 percent gain in claim efficiency as fraud is detected earlier and genuine claims are settled faster. The emphasis on creating a cyber-resilient workforce is also a reminder that financial services are only as strong as the people who manage their digital defenses.
Inclusive growth
Perhaps the most overlooked yet transformative aspect of this evolution is the democratisation of opportunities. With close to half of all new roles being created in Tier II and III cities, the next wave of financial talent is not confined to metropolitan centers. Diversity hiring is projected to grow by over 30 percent in these regions, opening the door for underrepresented groups to participate in India’s financial future. This inclusive growth is being powered by online education, which reduces geographic barriers and ensures equal access to world-class training and online degree pathways. For an industry growing at 26 percent annually, building a diverse, skilled, and future-ready workforce is no longer optional but central to long-term competitiveness.