Kaustov Kashyap
(pragatigroup08@gmail.com)
Ohver the last few years, fintech, or financial services and technology, has been a game changer in India. This has been critical in providing the BFSI sector with a digital toolkit that enables it to thrive and better serve its customers. The sector has reshaped the job market by providing a wide range of profitable career options in a variety of fields for both entry-level and experienced professionals. Because this industry is technology-driven, it always needs qualified personnel. The key functions of Fintech are broadly divided into six categories:
Technology and product
According to a recent study titled ‘India’s Current Hiring Outlook and Future of Work’, at least 69% of recruiters are looking for technology expertise. The backbone and main distinction of Fintech is technology, making it a profitable industry. The cornerstones of any fintech platform are mobile and web engineering, APIs, backend engineering (Python, Java), data science, artificial intelligence and machine learning, which leads us to the right set opportunities in sectors such as product managers, software. developers, cloud engineers and data scientists.
Marketing
Digital marketing, online acquisition, and digital promotion and engagement are some of the marketing functions that Fintech can offer. A solid understanding of web marketing and the ability to analyze large volumes of data and trends would be crucial talents shared by most professions.
Data Science
One of the most important differentiators for every fintech company is data science. Data scientists would regularly use data models to examine historical and current data and predict future trends in order to apply what they have learned to credit risk scoring, fraud detection and prevention, portfolio optimization and asset management, customer loyalty, etc. areas.
Operations
While most fintechs’ operations contain core activities such as KYC, customer support, and customer onboarding that are similar to those of a traditional financial services provider, some roles require more subject matter knowledge. go-to-market, strong general management capabilities, and those who are more product-focused. Most of these positions require employees with strong communication and operational skills, such as attention to detail, regulatory liaison, ability to facilitate business, and more.
Information security,
Risk and Compliance
The skills required to work in the fintech sector are quite comparable to those required in traditional financial institutions. Additionally, information security is by far the most important function of fintech because it protects highly sensitive consumer data. Data breaches can ruin a business; thus, information security professionals are in high demand.
Helper functions
Fintechs, like any other business, have support functions such as finance, legal, human resources, purchasing and internal IT. These tasks are essential to the operation of any fintech because they relate to the company’s ability to operate. For these positions, individuals with good functional knowledge and cultural affinity for fast-paced, diverse and ambitious businesses would be required. With various domestic and international fintechs setting up businesses in India, the sector presents untapped talent prospects across the country. It is fair to say that the industry is expected to create a large number of jobs over the coming years.