Want to work in Fintech?
Part 1: Four reasons why you should consider a career in fintech
By Tammy Gobel
Curious about working in Fintech? If a career in tech excites you, fintech might be an interesting path to take. Over the last decade, fintech has gone from being relatively unknown to a “household name” within finance and banking, an investment in tech has become increasingly important to help these industries keep pace with the digital revolution. The term “fintech”, a combination of “financial technology”, is used to describe technology that aims to improve the delivery of financial services.
Fintechs can be either B2B, B2C, or B2G, and cover various sectors such as commerce, banking, investment, insurance, personal finance management, and more. Digital assets, tokens, and currency projects, including cryptocurrency, stablecoins, and central bank digital currency, born out of blockchain technology (aka distributed ledger technology), are also types of fintech. Commodity exchange technologies are being built to improve shipping. Cross-border currency exchange and transfer technologies, such as ours, are being developed to improve international banking and commerce.
As a result, the fintech industry and investment in it have grown fast. According to a KPMG, global investment in Fintech hit $135.7 billion in 2019, while back in 2004 it was a mere $4 billion. Pretty exciting, right? In this article, we’ll cover some of the reasons we recommend a career in fintech, and in part 2, we will share how some of us got into it and how you can too.
Why work in fintech
With the rise of fintech, you might be asking yourself what you are missing out on. Here are four of the top reasons you should consider a career in a fintech:
Fast-growing: The fintech industry is still relatively young, but as already highlighted, it’s a fast-growing one. It’s becoming more influential as it is revolutionising our financial behaviour, both on a business and a consumer level.
Flexible startup culture: Many fintechs are startups or at least relatively new companies, and like the rest of the tech industry, they embrace startup culture. That often means that their work cultures encourage flexibility, lean structures, and growth opportunities. Startups tend to offer flexibility both in the sense of working hours, but also opportunities to try new things. You often wear many hats when working in a fintech, so it’s a great way to dive into new opportunities and responsibilities.
Fast-paced: Tech and finance are ever-changing industries; the combination of the two creates an industry that is fast-paced, agile, and responsive. New business models, latest trends, and new challenges are always just around the corner. You will rarely have a boring day at work!
Innovative: Fintechs are breaking down borders between tech and finance via big tech (Alipay, Facebook, Apple Pay), challenger banks (Monzo, Revolut), and services (TransferWise, Paypal), and creation of in-house fintech departments. You can quite literally say the future is fintech. Whether you are a developer, product manager, business developer, or marketer, there are always lots of opportunities to get involved with envisioning, creating, and bringing these innovations to market.
Are you tempted yet?
If you’re intrigued but are wondering how to get started? Then don't miss Part 2 of our “Work in Fintech” series! In this next article, we’ll provide you with advice on how to get into a Fintech, and you’ll get to hear first-hand from members of our team on how they got their start:
Work in Fintech, Part 2: Hear how we got started and how you can too!
Already convinced? Check out careers at our fintech startup.
