{"id":30604,"date":"2022-07-04T12:12:00","date_gmt":"2022-07-04T10:12:00","guid":{"rendered":"https:\/\/www.getsmarter.com\/blog\/?p=30604"},"modified":"2023-08-10T12:54:11","modified_gmt":"2023-08-10T10:54:11","slug":"career-path-financial-technology","status":"publish","type":"post","link":"https:\/\/www.getsmarter.com\/blog\/career-path-financial-technology\/","title":{"rendered":"Financial Technology (Fintech) Career Path"},"content":{"rendered":"\n

The rate of change in financial services is rapidly increasing.1<\/sup> In today\u2019s digital age, consumer behaviour shows that people want fast and easy access to their finances \u2013 preferably from a mobile device and application \u2013 on a system that allows efficiency in banking, from getting loans, managing investments or tracking budgets.2<\/sup><\/p>\n\n\n\n

When it comes to fintech \u2013 a blend of \u2018finance\u2019 and \u2018technology\u2019 \u2013 start-ups have forever altered the way we make payments, take out loans and invest our finances<\/strong>.3<\/sup> And traditional financial institutions have begun to see the value of partnering with these startups in a more synergistic approach to finance and technology, with almost 80% of the world\u2019s financial institutions having entered into fintech partnerships, according to McKinsey Panorama.4<\/sup><\/p>\n

Peter Tuvey, co-founder of Fleximize, the UK\u2019s first revenue-based finance provider, says, \u201cFintech is altering our core understanding of what it means to receive a financial service and disrupting areas once monopolised by financial and banking institutions.\u201d5<\/sup><\/p>\n\n\n\n

Technical skills needed to start a career in financial technologies<\/h3>\n\n\n\n

These advancements in financial technologies have triggered a demand for talent in the fintech industry.<\/strong>. If you wish to start a career in this field, you\u2019ll need strong experience in programming languages6<\/sup> and advanced mathematical or quantitative skills. Add to that analytical and logical thinking skills, plus a grasp of pricing theory and you\u2019ll have a competitive advantage over other candidates.7<\/sup><\/p>\n\n\n\n

In banking tech circles, developers are often fluent in more than one programming language, with demand growing for ‘full-stack’ developers who can bring various programming language skills to a business. Human Resources will typically, however, want to see one or two specific skills in order to forward a resume to the hiring manager.<\/p>\n

These include:8<\/sup><\/p>\n\n\n

\n
\"\"<\/figure>\n<\/div>\n\n\n

This sought-after, but rare, language is often found in job descriptions for investment bankers.9 <\/sup>Banks such as JP Morgan and the Bank of America want Java developers to help them stay innovative.10<\/sup><\/p>\n

 <\/p>\n\n\n

\n
\"\"<\/figure>\n<\/div>\n\n\n

This language was developed by Microsoft as part of its NET framework and is both an object-oriented and multi-paradigm language that combines the best of C and C++ languages. C# experts are in high demand in the financial services sector.11<\/sup><\/p>\n

 <\/p>\n\n\n

\n
\"\"<\/figure>\n<\/div>\n\n\n

This older language is the backbone for many banks\u2019 legacy systems that are still being used today, and demand for this language is growing as older programmers are retiring, and it isn\u2019t common among younger programmers. Plus, high-speed trading and the need to process large volumes of data has made C++ more popular again.12<\/sup><\/p>\n

 <\/p>\n\n\n

\n
\"\"<\/figure>\n<\/div>\n\n\n

This language is used by programmers to retrieve data from a database for analysis and processing. This multi-purpose language can be used in any of the following roles in fintech: business analyst, data analyst, data engineer, data scientist, software engineer or database administrator.13<\/sup><\/p>\n

 <\/p>\n\n\n

\n
\"\"<\/figure>\n<\/div>\n\n\n

This skill is highly valued in the financial sector. Many major banks and finance houses, including investment banking and hedge funds, use Python on their platforms that are responsible for their trading, pricing, risk management functions, and interest rate derivatives platforms.14<\/sup><\/p>\n\n\n\n

Peter Tuvey, co-founder of Fleximize, the UK\u2019s first revenue-based finance provider, says, \u201cFintech is altering our core understanding of what it means to receive a financial service and disrupting areas once monopolised by financial and banking institutions.\u201d<\/p><\/blockquote><\/figure>\n\n\n\n

Non-technical skills required for a career in fintech<\/h3>\n

More than technical acumen is required to thrive in a career in fintech. Here are some of the non-technical skills in high demand:<\/p>\n