I often get asked by students; what opportunities exist for them in the world of FinTech and how easy is it to get a job in this sector? The answer to this question is that FinTech is an exciting industry for banking and finance graduates to consider and getting a job in this sector depends on a number of factors, there isn't really a standardised way of entering this sector!
FinTech is not a new industry, technology has always been utilised to support financial service's organisation or improve the customer experience. Recently, we’ve seen a growth in the development of new products and services that are challenging the conventional models of banking and finance and now we are living in a time of real disruptive innovation within our sector. By all accounts, the FinTech sector is growing, 2016 saw the global FinTech sector grow by over 75% with over £19 billion in private investment, clearly demonstrating investor confidence and enthusiasm for the industry.
So, what is FinTech?
To put it very simply, it is the application of technology in the financial services sector to solve problems and to improve the overall customer experience. Financial services and products that achieve this can be classed as operating within FinTech. Examples of key FinTech players include banks such as Atom Bank, who lead the way in offering fixed rate savings accounts via their mobile App, or Monzo, with their zero fee prepaid mastercard account.
What key skills are needed to work in FinTech?
Recruiters are looking for a variety of skills, however highlighted below are the top three attributes FinTech employers are generally looking for:
Banking and finance graduates need to be able to solve problems, but also demonstrate logical thinking, strong numeracy skills and the ability to analyse data and information. If you are banking graduate with strong analytical ability, you will be in high demand!
A lot of the firms working in this sector operate very much in a start-up environment and will require staff to work across departments and job roles. Being able to bring new ways of working and showing an entrepreneurial spirit is key for being successful.
This sector is unpredictable and companies often have little start-up cash to operate. Things may not always go to plan, so developing resilience skills and the ability to bounce-back from adversity is highly prized.
If you can display these three key skills when applying for a job in the FinTech industry you are more likely to progress into a career in this sector.
Where are the opportunities?
On top of your regular job search, below are some of the key jobsites in the UK for entry level roles in FinTech:
For more information on how to apply for a job in FinTech, don’t hesitate to contact our Careers & Employability team.