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Careers in fintech

06 September, 2021Anthony Wright

FintechFintech is blurring the boundaries between finance and technology, this has led to a wealth of opportunities in the fintech sector.

What is fintech?

Recent years have seen the banking and finance sector evolve drastically, with the emergence of fintech companies re-shaping the way we view finance.

Gone are the days of large incumbent banks wielding all the power, fintech has produced a far more competitive banking arena and the pandemic has accelerated this disruption.

Continual innovation and demand from consumers for different ways to access their finance has fuelled the drive behind finance technology.

The Bank of England defines fintech as “technology-enabled financial innovation, which is changing the way financial institutions provide – and the way consumers and business use –financial services”.

Technologies such as artificial intelligence (AI) are leading the drive behind fintech. Robotic process automation is making banking tasks increasingly efficient.

Fintech’s presence is undeniable. Companies and governments are investing heavily in their futures. A 2021 report by the UK Government identified priority areas to support the UK’s fintech sector. The report recommended improving tech visas to attract global talent and provide additional support to growth stage fintechs.

That’s an indication of how much demand there is for candidates with the right skillsets.

Why choose a career in fintech?

The shift into the digital age has opened a realm of opportunities in this sector and companies are investing heavily to stay ahead of the curve.

 If you are considering entering this field, then demand is increasingly high for skilled candidates. The first half of 2021 saw companies’ global investment in fintech reach $98bn, compared with the $121.5bn that was spent during 2020. McKinsey reported that 20% of the UK population has an account with a digital-only neobank 55% of US consumers currently use fintech solutions.

This year-on-year growth presents a rewarding career choice and high ceilings for candidates who possess the required skills. Financial institutions require talent across the full life cycle of the innovation journey.

Roles include:

  • cyber security specialist
  • data scientist
  • product manager
  • product engineer
  • UI/UX graphics designer
  • marketer and content specialist
  • ·open-stack developer
  • data specialists.

Whether you prefer the ideation stage of projects or handling big data, there’s a role for you in fintech.

How do I get started in fintech?

There are many routes into fintech, including by working for:

  • incumbent financial institutions
  • fintech start-ups
  • financial advisory firms
  • educational institutes and
  • accelerators.

You should have a grasp of the latest industry trends and understand terms like blockchain, open banking and regulatory sandbox.

But getting practical knowledge, relevant skills and exposure to the industry will give you the greatest possible chance of carving out a successful career.

In just six weeks, you can get a recognised credential that will help you do just that.

Our Certified Fintech Practitioner (CFP) course, developed with Lendit Fintech, is ideal for early to mid-career professionals. It’s an interactive course that will build your knowledge of banking and finance.

Along with virtual lessons and guided self-study, you'll hear from those who work in fintech about the latest strategies in the market.

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More about CFP on the Centre for Digital Banking and Finance’s website