Are you ready for a career in FinTech?
Experts have projected significant growth in the fintech industry in the coming years. Today, the fintech sector holds a 2% share of the $12.5 trillion global financial services revenue, and it is estimated to grow up to 7% by 2030.
With this rapid growth, careers in fintech are also becoming increasingly attractive. You may ask yourself – Is a career in fintech right for you? Let’s find out!
Basics first! Do you like numbers and technology?
Fintech sits within the larger financial services industry, which means that exposure to numbers is part of the day-to-day. While there are many established institutions in financial services, those that adopt fintech introduce technology to the systems and structures of finance. Having an interest and aptitude for both just means that there are more facets of the company that can pique your interest.
Do you appreciate cybersecurity?
Online criminal activity poses a major threat to all types of companies – but especially to those in financial services. These companies deal with their customer’s personal and financial information, which means data protection is critical. Adopting cybersecurity programs and policies is just the start. All employees are expected to have data protection and cybersecurity at the back of their minds. This is excellent news for those who appreciate and enjoy cybersecurity.
Are you interested in developing new products?
Given its immense growth potential, the fintech industry is constantly evolving and looking for ways to improve its offerings and tap untapped markets. That means that fintech companies are also looking for innovative individuals who aren’t afraid to think outside the box and build solutions that maybe didn’t exist before.
Are you adaptable and flexible?
As part of the challenge of creating new products and solutions, roadblocks and speed bumps are inevitable. Regulations in the fintech space are still being developed and vary in maturity across different markets. On top of that, technology is constantly evolving alongside the needs and wants of customers. Those who will thrive in fintech are individuals who can roll with the punches and who are able to move quickly and pivot when needed. Agility is a must!
Do you like solving problems?
Fintech products and services are staples in a customer’s daily life. While this is a great opportunity, it also poses the challenge of consistently providing excellent customer experience and solving customer pain points. Fintech employees can encounter customer issues across a wide range of topics including technical issues, operational issues, etc. Problem-solving skills and analytical thinking are critical – not only in firefighting scenarios – but also in identifying ways to improve products and services. If you’re looking for an opportunity to solve problems in a fast-paced environment, a career in fintech might be right for you!
Are you good at communicating?
Regardless of the industry that you’re pursuing, communication is key. Fintech companies are made up of different teams, who each play a role in strengthening the product and services offered. Being able to communicate well within and outside of the teams can lead to more success in your fintech career.
Successful financial services companies like Western Union understand the importance of technology and continue to evolve to adopt these in our business. That’s why we’re always looking for employees with skills that lend themselves to success in fintech.
Want to learn more about career opportunities in our digital bank business? Check this out!
