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The impact FinTech has already made on the Finance & IT industry

by Heat Recruitment

Having started out as a buzzword, “FinTech” has quickly grown into a worldwide industry sitting in between finance and technology and is rapidly becoming the leading space for innovative financial products. From Challenger Banks to P2P Platforms, we are quickly starting so see these SME’s stand their own against the big corporates. Starting off seemingly like a rivalry, we’re now starting to see more partnerships and transparency on how FinTech will disrupt the market and the impact it will make through the Financial & Technology space.

Living in the age of the millennials, the times are changing. From the customer’s perspective, we are now seeing the “new age” of banking which is more App-focused with a number of examples of completely Mobile Based banking. We are also seeing a change on the client-side with office environments changing from the generic corporate feel of the larger Software Houses & Financial Institutions to a more “digital agency” feel. This is happening throughout the FinTech industry, which plays in the favour of the up & coming with developers, salesman and other prospects who are looking to an exciting and interesting new career.

This in itself is having a strong impact on candidate’s decision making with more & more candidates opting to make the transition from either the Finance or Technology sectors into the FinTech world. From the fresh-feel environments to the relaxed dress-codes, these are the small details that could persuade a candidate to take the right role. Transparency and exposure seems to be a strong pulling point coming out of the FinTech space with these smaller firms being able to show employees the full-picture throughout the growth of an organisation which gives the candidate an opportunity to become a key player, this is obviously a huge advantage over the larger Software Houses & Financial institutions. Not only because of the size but also the ability to keep staff interested in the company & product.

All in all, I think we’re only really seeing a small part of how much the Finance & Technology space will be affected but I certainly feel we will see more partnerships and “new age” Banks becoming household names. With the rise in InsurTech seeming to be coming out of the woodwork, how many other sectors will be disrupted by new & innovative technology?

Whether a candidate has heard about the FinTech market or not, I’m sure it will soon become the “must have” industry to work in, whether you’re a graduate looking to step into the FinTech space or an experienced individual looking to make the transition across, please contact Heat Recruitment to discuss the opportunities we have available.

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