CAREER PATH: JOBS IN THE FINTECH INDUSTRY

 

Financial services are among the most heavily regulated sectors in the world.

Financial technology, (Fintech) is used to describe the integration of technology into offerings by financial services companies, in order to improve their use and delivery to customers. 

Fintech is utilized to help companies, business owners and consumers manage their financial operations and lives with the help of specialized software and algorithms that are used on computers and smartphones.

Fintech began to flourish in the 21st century. Since then, Fintech has grown explosively, from applied technology at the back-end systems of financial institutions into different sectors of financial activities such as: cryptocurrency, blockchain technology, money transfers, depositing a check with your phone, RegTech, cyber security and big data.

Careers in Fintech 

The Fintech industry is thriving. In the first half of 2018, companies invested $41.7 billion in Fintech worldwide, surpassing the total record spent in 2017. 

Here are Some of the Top Fintech Careers

Blockchain Developer

According to PwC, 30% of finance companies expect to incorporate blockchain technologies into their strategy. 

The recent peak in cryptocurrency and blockchain interest continues to fuel job demand as companies require programs to improve efficiencies.

App Developer

Nick Szabo, the developer who coined “smart contracts”, notes that there is a high “dollar-to-knowledge” ratio in the blockchain space, where capital greatly exceeds talent.

Demand for blockchain talent is rising, with salaries to back it.

App developers who are skilled in more than one programming language enjoy great success in financial sectors. 

According to report, millennials are more likely to use their increased ability to make payments on their smart phones.

Therefore, financial technology application developers continue to be in high demand.

Data Scientist/Analyst

Data is being generated yearly by trillions of online transactions ranging from transfers, payments, subscriptions, purchases, etc, through the global banking system.

This is where data science comes in. Data scientists take raw data, clean it and analyze it in order to get information.

Data scientists are being offered very lucrative packages from the tech world.

Cybersecurity Analyst 

Financial institutions are targeted by cyberattacks 65% more than the average business.

This is why cybersecurity is now more important than ever. Companies are willing to spend more money to protect themselves from increased vulnerability to malicious cyber threats.

Cybersecurity ventures estimates that cybercrime will triple the number of job opportunities in the next five years. Therefore, the Fintech domain needs experts in this field.

Quantitative Analyst

Quantitative analysts also known as “Quants” specializes on researching, analyzing and forecasting market trends to make modeling decisions.

Quants also build strategies and interpret big data that help maximize profit and minimize risk. 

As big data grows, so will the demand for quantitative analysts, especially in FinTech.

Rounding Up

The world of finance has transformed tremendously in recent years with the rapid evolution of technology birthing the new domain of Fintech.

These new technologies are predicting more customer behavior and allowing organizations to make better decisions that contribute to redefining our lives.

Blockchain technology, application development, data science and quantitative analysis are hot areas with a significant shortage of talents.

Job seekers eager to build a career path in the field of Fintech can start learning and looking for opportunities in these fields.

Let me know if you have any questions or contributions in the comment section.

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