Fintech has the careers of the future
Over the past few weeks, thousands of students have reportedly collected the results of the exams they sat just a few months ago. Whether it’s A-Level, GCSE or otherwise, months and years of preparation will have gone in, with next steps and future career plans now a hot topic in many households.
Regardless of the outcome, results week can be an overwhelming time for students, teachers, parents and guardians. One reason for this, and perhaps a positive one, is the large scale of opportunities that now exist in Northern Ireland.
We have a mature world-class education system that offers all qualification levels in many disciplines. Routes into the professional world no longer follow the linear process of A-levels, university and eventual employment.
Today there is a whole system of diplomas, higher level apprenticeships and skills academies to complement the traditional route.
This is a result of progress in how we live and do business, which we as a region have welcomed. Despite the pandemic, Northern Ireland continues to enjoy a boom in technology as the industry grows in both size and economic contribution, leading developments in payments and mobile banking to name a few.
Financial technology, the discipline that improves and automates the delivery of financial services, is key to this. Now worth over £392 million in annual value and employing over 7,000 people directly, it is a growing sector that is expected to create thousands more roles in the coming years.
For students, fintech is an opportunity to play a role in the future economy. A key priority area in the Department for the Economy’s 10X vision, the rapid growth of the sector has earned us recognition worldwide, but many of those currently working in fintech may not have known its potential when they were at school themselves.
That is why STEM subjects are important, and courses that inspire innovative thinking are important for local industry. Software development, blockchain, data science and cyber security are some of the most in-demand disciplines in today’s sector, while problem solving, disruptive thinking, high interpersonal skills and adaptability are the key soft skills beneficial in fintech.
This is what employers in the sector are looking for, and we as an independent trade association work to ensure that there is no shortage of qualified candidates to support further growth. The fintech sector is revolutionizing the way we use, manage, save and invest our money, but this potential depends on employees and we need to encourage more of our talented young people to pursue a future in the space.
This is a sector where curiosity is welcomed, challenges are encouraged and those willing to question and disrupt are increasingly sought after for well-paid, dynamic roles.
A range of courses and qualifications provide a direct route into the sector, including at Ulster and Queen’s Universities, our further education colleges, and via the Department for the Economy’s Assured Skills Academies in local technology companies.
:: Andrew Jenkins is Chair of the FinTech NI Association
