A career in Fintech: A blend of Finance and Technology
what is Fintech?
Fintech is a result of blending the two terms: “finance” and “technology” together, or we can say it is a portmanteau of these terms. It simply refers to the use of technology by a business concern in order to enhance its financial services or to automate the financial processes. The term is diverse and dynamic and caters to both consumers as well as businesses.
The application of Fintech, include but are not limited to:
- Mobile banking
- Insurance
- Blockchain & Cryptocurrency
- Investment apps
Fintech companies aim toward integrating Artificial Intelligence, Blockchain as well as Data Science into the traditional operations of the Financial sector, in order to make the services safer, faster, and more efficient. In comparison to the other tech sectors, Fintech happens to be the fastest-growing sphere. Companies are now innovating in each and every area of finance. Starting from payments and loans, and extending to credit scoring as well as stock trading, the prevalence of Fintech is pervasive.
The Fintech industry has survived the test of time and continues to grow rapidly. Not only are the established market giants in the industry witnessing an upward sloping curve as far as the growth is concerned, but also new players are emerging in the Fintech space and many people are getting inspired from the latter and are taking up the blend of technology and finance as a career.
Some of the careers pertinent to Fintech are:
- Product Manager: A product manager works towards initiating partnerships, which are strategic in nature, with financial institutions and merchant banks. This is done in order to devise solutions which are viable and promote adoption of these services.
- Content Writers: A content writer would typically be focused on publishing articles on thought leadership, creating write-ups on related topics and scripting relevant insights that are to be shared.
- Social Media Marketing: This role would require the team to increase the visibility of the FinTech company on social media and capture audience attention for the promotion of the company.
- Sales: An important metric for Fintech companies is transaction throughput, thus the job of the sales team is essential in terms of targeting the right segments as well as acquiring customers majorly through digital channels.
- Data Scientists: Fintech companies typically have to deal with unstructured data in order to identify the lag and cater to the underserved. A data scientist would work towards uncovering the value from collected data through various sources in order to customize the products being offered.
- Cloud Management: With the expansion of operations and reach, cloud managers ensure to govern the entire ecosystem, including cyber security over a cloud.
- Product Engineers: In order to adopt an agile product development approach, product engineers ensure to implement products quickly with the help of open stack application developers to roll out products in a shorter turnaround time.
- UI/UX and Graphic Designers: These creative professionals develop convenient workflows, primarily for mobile only solutions, in order to create an enriching customer experience.
Some of the other traditional Fintech careers include but are not restricted to:
- Strategy
- Operations and Programme Management
- Taxation
- Legal and Regulatory functions
- Deals and Investments
- Knowledge and Research analysts
A term which was non-existent a decade ago is now leading the wave of change and has brought together two of the most dominant career fields of Finance and Technology.
The world is evolving now more than ever, the industries, and the economies are interacting and trading at a massive scale, convenience and efficiency is of the essence, and Fintech is the answer. If you are looking forward to a challenging and lucrative career domain, Fintech should definitely be on your list!
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