These days one of the most popular names that we hear in the technology industry is fintech. But what exactly is fintech and what are the responsibilities of a fintech job?
In this short article, we will explain to you what exactly fintech means and the responsibilities of a job in fintech bears. Let’s get started.
What Is Fintech?
As the name suggests FinTech stands for Financial Technology and simply broken down it translates to the use of technology in financial applications. Advanced technology such as AI and machine learning, among many more, are used in order to better optimize and automate the use as well as delivery of financial services. A quick example of this can be startups like PayPal which has come up with a payment portal for businesses as well as consumers in order to make online payments more seamless and reduce the consumer’s dependence on hard cash.
A Brief History
Fintech as an industry came into the spotlight in the early 21st century but was mainly used for optimising and developing back end financial systems. Slowly but steadily the popularity and capability of the industry spread and today fintech is used in almost all aspects of financial transactions. These days fintech uses a more consumer-oriented perspective and includes multiple industries such as education, hospitality, media, entertainment, fundraising, retail banking and many more.
What Are Fintech Jobs?
In order to better understand the implications of a fintech job, we first need to understand the fact that all fintech companies have one common objective in mind and that is to threaten, challenge and finally disrupt the traditional financial challenges by incorporating technology and encompassing a more consumer-friendly objective.
Now that you have an idea on what a fintech company does, let us explore the various job roles that are available in the industry.
One of the most in-demand sectors within the fintech industry is for software developers. The reason behind this being, in order to disrupt traditional systems, new software and hardware need to be created. Under the software category, one can choose multiple job roles such as,
1. Technology Architects
2. Product Managers
3. Risk Analysis
4. Relations Manager (Analyst)
5. Engineers both Front End as well as Backend
6. Business Analyst
7. Legal Counsel
Almost all fintech companies these days have continuous openings for such roles as the demand for this industry is continuously growing.
Skills to acquire
If you want to secure a job in the fintech industry, mentioned below are the most in demand skills that you need to acquire.
1. Programming languages such as Java, Python and C.
2. Java integrations such as JSON, .js, Node.js.
3. In-depth knowledge of NoSQL as well as SQL.
4. Rust, Go, Solidity and other such enterprise languages.
5. HyperLedger Fabric.
Along with these there are specialised skills such as expertise in blockchain development and ledgers. Under this, you need to be skilled in the programming languages mentioned above as well as have in depth knowledge on how blockchain development takes place.
If you want to increase your chances of securing a job you can also undertake fintech courses in other areas of skill development such as machine learning, artificial intelligence and many more. Along with this, it is always advisable to undergo formal training in fintech courses as it will help you understand the intimacies of the business better.
The job market in the fintech space is at an all-time high. Along with this, experts predict that the demand for highly skilled professionals will continue to grow in the near future as well.
Now that you know what fintech is and the responsibilities a job role in fintech comes with, get started on developing the skills you need to acquire. All the best.