What your career path looks like in the midst of a technological revolution
Updated: Jan 14
The FinTech industry keeps changing, and evolving due to three key things: The turbulent waves of technology, introduction of new regulations, and the evolving needs of digital and non-digital consumers. Let’s take a look at the potential opportunities of FinTech, especially when it comes to our careers. Our jobs will not be the same because our sectors are evolving, and we need to prepare the future workforce to be ready for these changes. To put things into perspective, I want to share a statement from a recent article by Finextra titled ‘FinTech Careers with the Most Potential for Future Growth’.
They stated that “Innovation is creating new roles, positions, and opportunities for people with the unique set of skills needed to fill them.”
First, let’s start by clarifying one thing. You don’t have to be a tech guru, nor do you have to be a finance magician. Individuals working within the FinTech space actually have quite a flexibility to utilize a lot of diverse expertise in different areas. So the answer is that “You have to be knowledgeable, and aware of your surroundings and understand them in order to offer innovative solutions”
How to start your career path in an evolving landscape?
Well, I started off by learning all I could online and connecting to the right people. There are new educational programs and certificates that get you on board the wagon much faster than you think. Another important advice that I highly recommend - join or volunteer in startup events and hackathons to connect with different individuals, create products, pitches and understand customer journeys while you are learning to create something.
One last tip that most don’t even mention - Do your research. Know what are the gaps out there, and what you can do to solve them in a way where you can contribute, and bring value to the table. You have to understand the market, and know where you fit it in with the current skills you have, and then you can go ahead and advance yourself in certain areas.
So what are the top 3 FinTech careers needed for the future?
Compliance officers: We need new regulations for all the internet of doing things. Regulations can be extremely complex, and don’t forget cross border regulations as well for those companies looking to expand. People working in compliance would basically understand those regulations, make sure companies understand them and follow them. This includes people in the fields of law, best practices and
Data Specialist: Data is an essential resource which powers the information economy, and we as humans are the biggest data generators. Having a lot of data is just the first step, but who is going to refine, analyze and generate insights we can use? We need Data scientists. Different roles include analytic and reporting needs, statistical analysis, and forecasting. There are hybrid roles for working with data.
Cybersecurity: This is an increasingly growing, and crucial area. Actually, Job postings for cybersecurity positions have grown three times faster than opportunities for IT in general. Why is that? Because cyber risk is at an all-time high! While it’s a great thing to have technologically advanced solutions; we also have to know how to protect ourselves. This includes our businesses while we utilize cloud sharing, online
databases and more.
Take the first step and start educating yourself with the tips outlined in this article. There are endless opportunities, and the future won’t wait.