FinTech graduate schemes are popping up everywhere.
From London to Singapore, all the big FinTech businesses and centres of excellence around the world are promoting graduate recruitment and training programmes, hoping to attract fresh new talent into the industry.
The global FinTech market is set to grow exponentially over the coming years with a projected market value reaching $309.98 billion by 2022 – boasting an annual growth rate of 24.8% according to The Business Research Company. But with a huge skills shortage in the industry, it’s become vital for FinTech businesses to seek out new talent pools and train employees from the ground up.
So, it’s obvious why FinTech businesses are interested in recruiting graduates, but are graduates interested in FinTech? And if you’re a recent graduate, or about to complete your studies, should the FinTech industry be on your wishlist…?
The short answer is yes….and here’s why….
Growth + investment = opportunity
Not only is the FinTech industry on a fast-track to explosive growth, but this growth is being backed by significant investment from entrepreneurs, venture capitalists, large financial services companies and technology firms. According to the Fintech Times, FinTech investment in the UK grew substantially in 2019 to $48.5bn from $25.4bn in 2018. Globally, fintech investment has been expanding across product, sector and geographic borders.
This translates to several advantages for graduates. Firstly, the FinTech industry is global, which potentially means the opportunity for travel, or even working overseas (check out our 8 Top Cities For Global FinTech Careers for more detail on where to look for the best opportunities).
Strong growth and investment also means the industry will continue to develop, opening up more career paths and the opportunity for training and progression both within and across different segments and companies.
Riding the innovation wave
It’s fair to say that the FinTech industry is at the forefront of many innovations that are creating waves in the consumer world. Where many sectors are talking about AI, blockchain and cryptocurrency, FinTechs have been using these technologies for years and are on the next stage of development, using them to create the personalised digital services that consumers will use across banking, retail, travel and much more. The chance to be a part of developing cutting edge products and services has strong appeal.
Some of the innovations being developed by FinTech businesses are also set to make a real difference to some of the world’s more difficult societal problems. For instance, there are several initiatives being explored to use data analytics technology to identify and stop financial crime and its sources, such as human trafficking. Other FinTech firms are working towards innovative ways to pay that promote financial inclusion, helping those who can’t access traditional bank accounts. For any graduates looking for an exciting career that combines innovation with ethical purpose, then there are most definitely opportunities in FinTech.
If you’re an undergraduate, or a recent graduate considering a career in FinTech and want to explore your options, get in touch with one of our expert consultants.