As its name suggests, FinTech – or the financial technology industry – combines two fast-growing sectors into one ultra-modern opportunity. If you use a contactless form of payment, take care of your bank transfers online or keep a digital wallet of any kind, you’ve already been touched by the hand of FinTech.
For anyone preparing to enter the world of work, or even experienced professionals looking to add more meaning to their daily lives, a FinTech career offers opportunities quite unlike those that can be found elsewhere. Let’s take a deep dive into why you should consider a career in FinTech, whether you’re new to the working world or a veteran.
So why work in FinTech?
- Tomorrow will be different from today
- The sheer variety of work
- Job security
- Opportunities (let’s make lots of money)
- Grow your skillset
- It’s a seat on the front row of history
1. Tomorrow will be different from today
Most of us can appreciate the need for a little excitement in our daily working lives. After all, if we’re spending around 37.5 hours per week working at something, it helps to be kept stimulated, which in the FinTech industry, is guaranteed.
One of the central pillars of FinTech companies is to create new solutions for the financial industry. This space is full of innovation and means that you may have a chance to work to create something completely new.
Already we’ve seen the likes of artificial intelligence (AI) being employed within the industry, and more institutions are seeing the benefits of using blockchain for non-crypto reasons. Both these examples are still in their relevant infancy, but give it a couple more decades and they could be as normal as a chip-and-pin. So, what will take their place as the brightest, newest piece of technology on the block? Well, not-knowing is part of the excitement, and maybe you can play a part in discovering what it is.
2. The sheer variety of work
Those new to FinTech might think it is an industry full of designers, coders and Einstein-types. But if you don’t happen to be any of those, there are plenty of other opportunities out there.
As mentioned above, AI plays a massive part at present, and you’ll discover a host of positions for software engineers. Given the financial nature of the industry, cybersecurity is a major concern, so specialists in that field are also much desired. Furthermore, you can join the industry with little to no experience, as you’ll find countless openings for marketers, sales professionals and human resources staff, where existing skill-sets can be transferred from a multitude of other industries.
3. Job security
In the UK alone, the likes of Brexit, Covid-related lockdowns and potential recessions have hit the economy hard. Many industries have been affected, and many businesses have been unable to survive.
When times are hard, FinTech solution companies have a greater chance of survival than most. Until the concept of currency dies out, there’ll always be a need for an innovative financial sector. In fact, the FinTech industry has been predicted to grow to over $26 trillion by the close of 2022. Should dark clouds affect the global economy over the next year or so, FinTech is one industry that’s set to thrive, not merely survive.
4. Opportunities (let’s make lots of money)
Within a booming industry comes opportunities. For example, many of those who made the switch from traditional marketing to digital marketing in the late 1990s reaped the benefits. It’s easy to forget that no one could have predicted the internet, World Wide Web, or Google replacing our capacity for remembering things.
Being present at the start of a global revolution can offer countless opportunities for the ambitious individual, with 30,000 currently operating start-ups alongside the option of one day launching your own organisation – a move that’s much easier to achieve in a non-saturated marketplace.
5. Grow your skillset
By joining a new and exciting industry you’ll have the chance to grow your skill set quickly. With so many FinTech start-ups around and with even more established companies being primarily focused on innovation, you’ll find many opportunities to step outside of your present job role, collaborate with others and learn new ways of working.
6. It’s a seat on the front row of history
Who would’ve thought that our cash society would one day morph into a world dominated by debit and credit cards? Or that we could have bank accounts without the need to ever meet a bank manager face-to-face? Or that we could embark upon a shopping spree with nothing more than our mobile phone and a downloaded app or two?
A career in FinTech not only gives you a glimpse into tomorrow’s world – it will allow you to contribute. Every single person in the industry has a slice of the future already in their hands.
An additional benefit of working in FinTech is the network you will build. Growing your network in this space will allow you to rub shoulders with groups of forward thinkers, innovators and believers in an environment that is still being defined.
Fast-growing and ever-evolving, the FinTech industry offers a host of job opportunities to professionals of all ages and interests, and a genuine chance to make a difference in the world we live in.
Operating across 20 companies worldwide, EC1 Partners is the leading global FinTech recruitment agency, sourcing talent to allow the world’s leading firms to grow and shape the future of innovation. Take a look through our careers board, or contact us to find out more.