The financial technology industry, sometimes known as FinTech, is seeing phenomenal growth. But there is a significant obstacle standing in its way: a lack of skilled workers. Finding skilled workers is a challenge for both businesses that leverage FinTech firms’ technologies and the Fintech certification companies themselves. Therefore, what kinds of abilities are necessary? And what efforts may be taken by organisations to obtain them as quickly as possible?
To begin, let’s define the term “financial technology.”
Any form of technology that is developed to facilitate and streamline the usage of financial services is referred to as “FinTech.” As a consumer, you have probably already interacted with it in some capacity, such as when making payments via a contactless method, for instance.
In the business world, the objective of FinTech is to assist companies in improving the effectiveness with which they handle their financial operations by using specialised software, technology, and algorithms. In addition to that, it encompasses the production and use of cryptocurrencies like as Bitcoin, as well as applications such as blockchain, which is a system that enables digital information to be transmitted securely without the risk of being duplicated or altered.
Why is a focus on financial technology important right now?
Before the pandemic, the sector was already on the rise, but Covid-19 has accelerated the uptake of digital financial services and Blockchain Training. During the first month of the lockdown, approximately 6 million people downloaded a banking app for the first time. This indicates that the virus has accelerated the adoption of digital financial services. The demand for financial technology goods among consumers and companies remains high, and the sector is currently one of the sectors with the highest demand and the quickest growth rate in the world.
Is there a fast method that I can use to get my team up to speed?
A crash course might be a helpful way to get an overview of something. You have the ability to earn a high return on investment and important information for a very little time commitment. This might be beneficial to you. Anyone who feels the need to expand their knowledge of technology and finance may benefit from enrolling in the FinTech, Blockchain, and cryptocurrency course.
It offers an explanation of the new prospects that exist in relation to cryptocurrencies, blockchain, and the future of money. In addition, it investigates the potential downsides as well as the upsides of using FinTech for investors, legislators, regulators, and enterprises. In addition, the training may be presented in a variety of forms, such as a set of live webinars or a masterclass held in your workplace.
How can I improve the cybersecurity skills of my staff?
The rising use of financial technology comes with it a greater risk of data breaches and cyberattacks, both of which have the potential to cause your company to suffer financial loss as well as harm to its brand. Every employee, not only those working in your IT department, should be responsible for learning how to defend themselves against cybercrime. Cybersecurity for Business short course will provide your staff with the knowledge they need to do so.
Which talent is the most in-demand when it comes to FinTech?
There are several, such as knowledge in blockchain technology and data analysis, but many people believe that software development is the most important of all. In current digital-first world, the ability to identify issues, establish client requirements, and explain solutions is very vital. This includes the abilities to handle the complete spectrum of technologies, from Python to PowerApps.
You may be interested in Software Developer Apprenticeships at Level 3 or Level 4 if your company is recruiting new employees with an active interest in software development or if existing employees are taking on a development role. Alternatively, you may have existing staff taking on a development role.
What should be done with the experienced personnel?
It is necessary for senior talent in banks and building societies, asset management organisations, and financial technology enterprises to have a combination of banking and technical expertise. This involves having a solid understanding of the strategy, operations, and technology of the bank, as well as its risk management, professionalism, and ethics, as well as commercial lending. Many people are also opting to become proficient in more complex Microsoft applications, such as Excel.