The financial services sector is fast evolving right before our eyes and in the midst of a technological revolution. Financial institutions are changing the way they think and new customers have more options than ever at their fingertips.
The Fintech industry has to face a whole set of new regulatory challenges, and need people who will be able to navigate through these murky waters. It’s also set to become one of the biggest employers of new CFOs and CEOs, who will now need to have a deep
understanding of information technology at all levels. Innovation is creating new roles, positions, and opportunities for people with the unique set of skills needed to fill them. Here are some of the Fintech related careers with the highest potential for
growth in the near future.
Technology is having a profound impact on the industry’s regulations and rules. As such, experts in the fields of finance law, best practices, and data security will be in high demand. We can also expect regulation to become stricter and increasingly complex,
which will push the
need for risk managers and compliance experts.
According to a recent study conducted by LinkedIn, the demand
for blockchain developers is increasing by 30% year to year. And we can only expect the demand to keep growing in the future, as rate of adoption and introduction of new blockchain solutions for financial institutions will increase.
specialised knowledge in cryptography and machine learning will also have an edge.
The Fintech industry is largely app fueled, and with an expected 2 billion additional users using banking applications by the year 2020, we can expect the demand for skilled app developers to sky rocket. Demand is not only limited to banking apps either.
Some of the most popular apps on the market revolve around wealth management, crypto currency wallets, payment processing and remittances, as well as alternative lending.
Fintech companies cannot afford to simply accumulate data. They’ll also need people who will be able to mine this data, analyse it, and offer recommendations on how to use this data to improve services. Customer data analysis is what will eventually allow
Fintech companies to stay competitive, and its value cannot be overstated. The only way for Fintech providers to stay in the game will be to hire talent in house or outsource.
How Professionals can Lend a Career in Fintech
The first thing will be to get the proper formation. Fintech companies will naturally gravitate towards people with a deep understanding of financial lingo and services, but will also privilege those with a background in STEM, or those with coding skills
Many positions in Fintech will also require candidates to be able to work with cross-functional teams and deliver under strict deadlines. So they’ll also be required to have some important soft skills such as problem solving, communication, and team working
Those with a financial background in a field like banking could either get additional credits in Fintech related courses or find an MBA with a Fintech component. They’ll also have to perfect their resume in order to catch the eyes of recruiters in the field.
This includes being able to tie in your previous qualifications with your ability to innovate and demonstrate how you were able to use your analytical skills on past projects. You’ll also have to make sure to
exclude irrelevant information, and consider opting for an objective statement or summary instead of a cover letter. This will allow you to quickly explain the reason behind the career change,
what you’re currently doing to fill your skills gap, and why you’re qualified for the position.
The Fintech industry is set to revolutionise the way we spend, manage, save, and invest our money. It will also provide tons of opportunities to a new class of workers with a background and understanding of both the world of IT and finance.