FinTech skills and attitudes employers seek when hiring
FinTech is an umbrella term for companies that use technology to disrupt traditional banking. It has become increasingly relevant due to its ability to make financial services more accessible, efficient, and innovative.
From making the opening of new accounts easier, to facilitating international money transfers and peer-to-peer lending, the FinTech industry is altering the way we manage money.
As per BCG’s Global FinTech 2023: Reimagining the Future of Finance report, FinTech is altering the financial landscape and providing new opportunities for organisations, professionals and consumers thanks to its disruptive potential and data-driven insights.
Employers in this fast-paced industry are looking for people with a variety of specific FinTech skills and mindsets that allow them to succeed in an environment that values innovation.
FinTech professionals are in demand
As the sector continues to grow at an exponential rate, there are plenty of diverse FinTech jobs out there, from developers and engineers, to marketers and salespeople.
300Hours identified some of the most in-demand FinTech job roles to be:
- Data Scientist
- Quantitative Analyst
- Compliance Officer
- Risk Analyst
- Management Accountant
Other popular roles within FinTech include Business Analysts, Software Developers and Cyber Security Engineers, amongst more. If you are looking to fill similar roles, contact us.
Technological aptitude to effortlessly navigate the digital world
According to Financier Worldwide, the ever-evolving landscape of technologies, including Big Data, Cloud technology, Artificial Intelligence, and Blockchain, is continuously reshaping the finance industry.
This has led to the emergence of innovative FinTech companies that pose a challenge to established business models and conventional job roles within Financial Services. Employers value professionals who have a strong technical aptitude and can adapt quickly to new tools and platforms.
Proficiency in programming languages such as Python, Java, or R and expertise in Blockchain Software development, DevOps/DevSecOps, Cybersecurity, AI, Machine Learning, data analytics, and cloud computing are all highly desirable.
A successful FinTech professional should have the ability to assess technical risks and mitigate them. These technology skills can help FinTech professionals create innovative solutions that have the power to disrupt.
Industry knowledge for designing markets conquering strategies
Knowledge of current business operations is one of the key elements of a strong FinTech strategy, as per KPMG’s FinTech report, because it empowers individuals to be able to fix issues and capitalise on opportunities.
Employers are looking for professionals who are adaptive to the changing financial landscape and have a foundational understanding of both finance and technology.
To keep up with the most recent developments, professionals should study new technologies and processes, actively engage in industry conferences, sign up for online courses, and join networks. They must possess the ability to foresee the future of the business, potential risk factors, and scope of any FinTech project they are working on.
They should also have a practical, working knowledge of taxes, audits, accounting, capital marketing, and the overall financial and economic situation.
Collaboration and communication runs the show
FinTech professionals usually work in interdisciplinary teams, making strong teamwork and communication skills essential. Employers place a high value on people who can:
- Collaborate effectively with others
- Effectively explain complex financial ideas to both technical and non-technical stakeholders
- Foster a positive work environment
Project managers serve as a prime example, as they orchestrate the coordination among developers, designers, and business stakeholders to successfully deliver FinTech solutions and foster a collaborative environment.
Creativity and innovation are must-have FinTech skills
Innovation is at the heart of FinTech, and businesses highly value employees who bring fresh concepts and ways of working to the table.
According to a survey conducted by Deloitte, 82% of financial services executives deem innovation as highly important for their organisations. Creativity plays a pivotal role in identifying groundbreaking solutions to financial challenges and enhancing user experiences.
For instance, creating an intuitive mobile banking app that streamlines financial management for users, incorporating innovative features such as budgeting tools and personalised recommendations. This is the sort of innovative mindset that employers are looking for.
Analytical skills that define the future of FinTech
Data runs the FinTech industry; data analytics empowers businesses to unravel the hidden stories behind vast amounts of financial data and information.
Those professionals that have the skills to perform such analysis, using the right technology tools, are hugely valuable to the industry. Automation, creating dynamic dashboards, and analysing data structures are essential to navigating the complex landscape of financial information.
- Automation can streamline repetitive tasks, allowing more time to be dedicated to strategic analysis.
- Visually appealing dashboards bring financial data to life, providing stakeholders with intuitive insights that empower them to make informed decisions.
- The ability to analyse data structures helps uncover patterns, detect anomalies, and develop predictive models that drive innovation, enhance risk management, and deliver personalised experiences to customers.
In this data-driven era, honing data analytics FinTech skills is vital for professionals to stay ahead of the curve and contribute meaningfully to the ever-evolving landscape.
Cybersecurity and Blockchain for FinTech professionals
In today's digital landscape, cybersecurity and blockchain technology hold immense significance for the FinTech sector.
With the increasing reliance on technology and the ever-present threat of cyberattacks, having a thorough understanding of cybersecurity is vital. It enables cybersecurity professionals to safeguard private financial information, uphold client confidence, and follow legal obligations.
FinTech professionals well-versed in cybersecurity best practices can establish effective security measures, quickly recognise and address threats, and help achieve compliance.
Furthermore, blockchain is revolutionising the financial industry by offering secure and transparent transactions. FinTech professionals who have experience working with blockchain technology can develop innovative solutions like smart contracts and decentralised finance (DeFi) platforms.
These advancements facilitate faster, more secure, and more cost-effective financial transactions.
By staying updated on cybersecurity and blockchain developments, FinTech professionals can navigate the evolving landscape and contribute to building a secure and efficient financial technology ecosystem.
Diverse FinTech skills for a lucrative career
The FinTech industry is calling for professionals to possess a diverse range of skills, including technical and soft skills, and exhibit the right attitudes.
By cultivating these in-demand skills and attitudes, aspiring professionals in the sector can position themselves well for success.
So, whether you're a seasoned professional or just starting your career, investing in the development of these skills and attitudes will undoubtedly open doors to a thriving future in FinTech.