Fintech companies are increasingly prioritizing skill sets such as expertise in AI, Golang and cybersecurity.India’s fintech landscape is experiencing explosive growth, positioning itself as a global hub for employment and investment. The number of registered fintech startups in the country has almost quintupled in just three years, from 2,100 in 2021 to 10,200 in 2024.
Between 2014 and 2023, Indian fintech companies attracted over $28 billion in funding through 1,486 deals, reflecting strong investor confidence with $4.3 billion raised through IPOs, reflecting the maturity of the sector.
Today, India is expected to have around 150 fintech unicornscollectively valued at $500 billion by 2030, according to a report from JM Financial and Beams Fintech Fund.
This expansion is expected to fuel an increase in job creation, making the fintech industry a key employer in the startup sector. Industry experts note that the transformative impact of fintech on traditional banking, insurance and investment services has created opportunities for both seasoned professionals and new graduates, particularly those with expertise in technology and finance.
ETHRWorld spoke to some Fintech industry leaders to understand what the current skilling scenario looks like and how companies are preparing new hires for the unique demands of the sector.
Specific skills prioritized by companies
Fintech companies are increasingly prioritizing skill sets such as expertise in AI, Golang and cybersecurity. These skills are critical to driving innovation, improving operational scalability, and protecting the digital ecosystems at the heart of fintech operations, according to Subhash Menon, CHRO, Angel One.
In this context, product management skills are also sought after by companies.
Notably, thanks to the success of UPI, the payments industry is poised to become India’s leader fintech boom. The value of transactions is expected to reach $11 trillion by 2030. The number of UPI QR codes is expected to increase from 202 million in 2022 to 317 million by the end of 2024.
Latha Iyer, CHRO at Zaggle, says skills in designing, developing and scaling SaaS solutions tailored to leverage payment instruments will be important.
Iyer further asserts that expertise in customer success, customer experience (CX) design and operations will be of immense value.
Additionally, knowledge of B2B2C sales, cross-selling strategy, digital marketing, account-based marketing, SEO, software sales and sales strategies within fintech will be relevant.
“In Sales and Marketing, the focus is on Digital Marketing, Content Creation, Social Media Management, Performance Analytics, Growth Hacking, Partnerships, Affiliate Marketing, CRM expertise and a deep understanding of financial products. These skills allow us to stay ahead of the curve in customer acquisition and engagement. For our Member Operations team, we emphasize skills such as customer service excellence, operational efficiency and product knowledge to deliver smooth and satisfying member experiences,” says Neeti Kumar, People Manager at Tide India.
Prepare new hires for the unique demands of fintech
For new recruits, especially those from non-fintech backgrounds, Veefin Group organized two weeks of onboarding programs such as bootcamps and mentoring to develop their domain, product and technical skills.
Gitesh Karnik, CHRO, Veefin Group, says this helps them understand the industry quickly and feel confident in their role.
“We continually invest in developing core skills such as Python, React and Java. To address skills gaps, we offer training programs based on overall and individual needs. We provide certifications, leverage our learning management systems, and conduct surprise tests and quizzes to ensure our team is always up to date,” adds Karnik.
Something similar is also practiced by Angel One.
Menon shares that attracting talent from non-fintech industries is an integral part of his philosophy, as it fosters creativity and introduces new approaches to solving problems. They focus on key skills rather than prior financial technology experience, especially when candidates demonstrate mastery of fundamental skills.
For example, an app developer with a proven track record of delivering cutting-edge, highly functional applications would be considered an ideal candidate, regardless of their specific fintech experience.
On the other hand, Tide India’s Kumar primarily hires professionals with prior work experience and ensures that their transition is smooth through a comprehensive onboarding program.
This program not only introduces newcomers to their company values, but also includes values workshops to help them deeply connect with the culture.
The rise of Fintech impacts compensation structures
As the fintech sector expands and new skills emerge, salaries are also expected to rise with it.
While the industry is heavily focused on evolving on the technology side, fintech companies are also offering their staff compensation options such as ESOPs.
The Veefin Group offered stock options to all its employees, in addition to offering them performance bonuses, flexible hours, off-site, team bonding and learning allowances. Until last year, Veefin had fewer than 200 employees, and today, as a group, it has more than 1,000 people.
Zaggle’s Iyer says equity is becoming a standard part of compensation to attract and retain talent. Additionally, enhanced variable pay linked to company metrics and individual contributions plays a key role in salary packages.
