Fintech is easily one of the most dynamic tech-enabled domains in the world today. The fact that you can transfer money to a friend, or pay for a product, instantly, is an innovation pioneered by the fast-growing and innovative fintech sector.
The evolution of fintech probably dates back as early as the 1800s. This is when businesses were able to send financial information via the telegraph. With this simple innovation, the financial world transcended borders.
Over time, fintech has helped sectors like banking, insurance, and financial services become digitised. It has helped bring efficiency, speed, transparency, and speed to transactions. The last three years have seen an acceleration in fintech innovation. This growth spurt is accompanied by a growth in fintech jobs.
If a career in the fintech domain excites you, then there’s no better time to enter it than now. Investing in building skills, acumen, and specialized knowledge will give you a competitive edge. In this blog, we explore job opportunities in fintech, the key skills needed, and how pursuing a fintech course can help you excel.
Snapshot of careers in fintech
As of 2022, the worldwide fintech market was valued at $ 194.1 billion. It is projected to grow at a compound annual growth rate of 16.8% from 2023 to 2028, to reach $ 492.81 billion by 2028. As the market share grows, ambitious professionals can expect exciting opportunities to emerge within the sector.
Fintech professionals can work in areas like banking, trading, taxation, insurance, and others, which have undergone digitization. A career in fintech will also expose you to cutting-edge technologies such as Application Programming Interface (API), Artificial Intelligence (AI), Blockchain, Robotic Process Automation, and Data Analytics.
Hence, fintech professionals leverage a mix of skills and tools. They include technology, data analytics, an understanding of consumer behaviour, innovation, and regulatory knowledge. They build and deliver products and services to both consumers and businesses.
Emerging job roles
This mix has given rise to several unique job roles where many such skills intersect. Here are some examples:
1. Blockchain strategy manager
Today, several sectors such as hotel management and functions like chain management are embracing fintech. They are leveraging blockchain to bring more efficiency and design thinking to processes and solutions. A Blockchain strategy manager plays a key role in adding value to client projects and delivering solutions within the set timeframe.
2. Regulatory affairs counsel
The fintech field has evolved so quickly. Hence, the top regulatory bodies in each domain are still playing catch-up. As new regulations are rolled out, fintech companies must adapt quickly. The Regulatory Affairs Counsel keeps track of new regulations and is also responsible for ensuring compliance with them. There’s a dearth of professionals who can play this role effectively.
Many such emerging roles need a deeper understanding of technology, data, regulatory changes, and consumer behavior. You must also cultivate an innovative mindset to thrive in a career in the fintech field. So, how do you do that?
Invest in learning
Fintech in its current shape and form is a new field. Hence, there are limited professional courses effectively catering to the caliber of training, knowledge, and practical projects required to learn.
The traditional MBA, for instance, does not have the framework to meet contemporary learning needs. Hence, fintech aspirants should pursue a certified fintech course with a superior pedagogy.
Here are some distinguishing attributes to help you recognise a good programme:
Exposure to fintech topics such as the Role of Defi in lending innovation, fintech fundamentals, use of crypto and blockchain in payments, and exposure to AI and Machine Learning (ML).
It must have a world-class pedagogy and faculty from a pedigree institution.
Access to on-demand, high-quality online learning resources, guest lecturers from the industry, peer-to-peer discussions, and simulated projects to help build practical skills.
A superior fintech course also comes with a strong mentorship framework, which helps you get guidance that can shape your career.
A job placement framework that helps you strategically prepare for interviews. It must offer resume-building support and enable industry networking. It must also facilitate interview opportunities with top fintech companies.
Entering the fintech sector in the next 12 months can help ambitious professionals sow the seeds for a career in the fintech field, early on. This is a well-funded sector that functions at the cusp of innovation.
By pursuing a comprehensive, compact certified programme with superior pedagogy, professionals can expedite their learning. Having the first-mover advantage can help you build a competitive edge, gain valuable experience, and progress quickly in this dynamic field.