This guest article was written by Nako Mbelle, founder of FinTech Recruiters. She started her career in the marketing analytics space back when it was called database marketing. She has over 14 years of experience in the tech space and has held roles in business development, strategy, sales, marketing and product marketing. Nako started FinTech Recruiters to meet the growing demand for experienced financial technology professionals with specialized knowledge in the space.
Widespread layoffs in the financial sectors of North America and Europe gains media attention for many months now. Large institutions such as Deutsche Bank, TD Bank, Bank of America and Citibank have reduced or want to cut down their hiring by several to tens of thousands of people.
The answer to such a wide range of unemployed professionals with experience in the banking services may be the rapidly growing financial technology (fintech) industry. Which of the spaces within fintech seem to be the most interesting, promising and which will be able to provide a workplace for the largest number of potential candidates?
When we started the Fintech Recruiters project two years ago, we were entirely focusing on providing software environment for Risk and Compliance. However, we have quickly realized, that fintech gives far more opportunities, opening us not only to much larger customer and start-ups base, but also to potentially stronger range of industry professionals seeking new employment.
Blockchain – the greatest development potential
Searching for the right industry in the financial technology space, the blockchain seems to be the most promising niche, not only limited to the world of finance, but also opening up to other spaces. The industry of course is firstly addressed to the software developers and programmers. The truth is that the future belongs to the technical people – with coding skills or at least familiar with the more advanced areas of mathematics.
It is therefore considered as a warning sing, which was mentioned in the “Race Against the Machine” by Erik Brynjolfsson and Andrew McAfee. According to the authors: “(…) we are in the early throes of a Great Restructuring. Our technologies are racing ahead but many of our skills and organizations are lagging behind. So it’s urgent that we understand these phenomena, discuss their implications, and come up with strategies that allow human workers to race ahead with machines instead of against them.”
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Accordingly, in what direction you should develop your skills to prepare for a career within the Blockchain industry? Fintech Recruiters basing on its experience, knows very well what customers and start-ups are currently looking for and how the standard job application looks like.
Cryptoanalyst or maybe backend engineer?
The main advantage of the currently expanding fintech and blockchain industries is the fact, that employers often decide to hire people who are self-taught and have no mathematical or technical degrees. This opens the gate to those wishing to rebrand themselves and gain additional knowledge.
Blockchain companies are often trying to hire cryptographers or senior backend engineers. In the first case, employee typically should be experienced in the field of information security, encryption technology, methods of internet communication and know the basics of programming. In such positions real skills tested during the internal assessments will be much more important than diplomas and certificates.
Fearing the world of developers, it is needed to remember that currently we are encountering a very big change. All of us can read and write, but that does not make us all professional poets or best-sellers authors. So the knowledge of the computers language does not need to translate to everyday creation of thousands of lines of code. Basic knowledge of programming, supported by appropriate skills and practice will make you well prepared for the fintech revolution that lurks just around the corner!
Want to learn more? Read the full article in the latest Finance Magnates Intelligence Report.