FinTech is fast becoming the best example of how an industry can be positioned to respond to change and opportunity.
The FinTech industry adds more than £7bn per annum to the UK economy, employing some 60,000 people and with London fast becoming the centre for FinTech in Europe, the opportunity for specialist hires looks to extend far further than just tech based jobs.
The COVID pandemic has bought many challenges, however over 81% of FinTech firms transitioned to remote working almost immediately, more than the national average of 70%.
The growth of FinTech has seen many traditional banks looking at the ramping up of the recruitment of both tech-based professionals but also associated complimentary roles.
The FinTech industry is required to adhere to the same, in fact in most areas more stringent, compliance guidelines as conventional banking and finance companies; Compliance teams are already familiar with looking at business models and identifying regulatory risk. However, the need for real-time compliance monitoring is paramount with the need to identify and act of risks promptly
Tracy Fletcher, Managing Director of Campbell & Fletcher Recruitment commented,
“We are really seeing a need for the associated roles that complement the FinTech sector, roles within the compliance field have grown by nearly 60% year-on-year, and talent is highly sought after and valuable to the sector.”
“As a talent recruiter, and partly as a result of the economic impact of the pandemic, we have been able to attract the level of professional that every company needs.”
The FinTech revolution is fast changing and those working in financial services compliance and risk management roles should be looking at as an opportunity for career progressions rather than a threat. There will be a need for skilled talent to really shine in compliment to the technological advances of FinTech; companies will be looking for professionals that can manage risk to ensure the continued success of a company.