In today’s world, companies and businesses are constantly looking for ways to perform financial services easily. Fintech is thus becoming radically popular. Since the idea of disrupting traditional payment methods became a thing, it is normal to transfer and receive payments using software and algorithms.
Business professionals need professional advice on managing financial resources and incorporating a working Fintech model into their business, and this is where a fintech expert comes in. To join the train in motion, here are the basics and all the information you need to start a career in fintech.
What is Fintech?
Financial technology (Fintech) is a concept that describes the process of automating financial services. This process involves using technology to create and deliver financial services between businesses and consumers. Fintech covers various parts of finance, including insurance, personal finance management and payments.
If you’ve ever paid for a delivery online, transferred or received payment via an app, chances are you’ve interacted with this multi-billion dollar concept. Fintech technologies and business models are constantly changing the way we do business around the world. These models include cashless payments, robo-advisors, crowdfunding and virtual currencies.
According to Statista, the total investment value in fintech has risen to over 220 billion US dollars over the years. These values prove how much growth it has experienced over time, and there is evidence that these values will continue to skyrocket.
The role of a fintech expert is to understand the fintech industry and work with algorithms to provide better services to end users. Blockchain developers and product managers are among the most rewarding fintech careers. If you are tech savvy and enjoy playing with computers, it’s a great way to start a career in fintech.
How to start a career in Fintech
Now you know what fintech is, the following steps below are ways to start a career in it:
1. Build a solid foundation with relevant courses in Fintech
Like all career paths, starting with the basics is a very important step. Look for relevant courses and certifications in fintech and sign up for them. Most topics in fintech cover blockchain technology, artificial intelligence and machine learning. Therefore, you need to start with the basics in these areas.
At this level, you will also learn about the trends driving the fintech industry, including what influences these trends and how to analyze them. And because the fintech sector is experiencing continuous changes, it is very important to learn to identify the sparks that affect the financial sector. They form the basis of your learning.
Some of the best platforms to enroll in a Fintech course include CFTE, Udemy and Coursera. With these platforms you are off to a good start. If you are attracted to the blockchain industry, look for the best online platforms for blockchain courses to get the best knowledge.
Always remember that these courses will lay the foundation for you. Therefore, you need to look for credible platforms to learn fintech. That said, here are some of the best fintech courses online:
2. Learn in-demand Fintech skills
The next step to starting a career in fintech is learning in-demand skills. These skills include programming skills, data analysis and artificial intelligence. You need these skills to maneuver your way into the system. They also increase your marketability on the fintech job market.
The importance of technical skills cannot be overstated. Therefore, you need to familiarize yourself with the technical skills you need to succeed in the financial industry. You can start with business intelligence and financial modeling tools, and with constant practice you will get the hang of it in no time. You may also want to take on fintech projects while you learn.
In addition to these technical skills, you will also add interpersonal skills, problem-solving skills, negotiation and adaptability. Most companies in the fintech space are startups, so you need a combination of these skills to do well in this niche.
3. Study the latest trends in Fintech
One of the biggest turning points in fintech is the latest trends. It influences the decisions made in that sector and helps professionals to make brilliant decisions. These trends also affect the demand for these services in fintech. By studying and understanding the latest trends, you will be able to navigate the industry. This process includes identifying what influences the fintech market.
Some of the latest trends in fintech include the rise of digital banking, the development of blockchain and the rise of SMART contracts. If you understand how these trends work, you’ll gain a lot of experience until you’re ready to pitch to top fintech companies.
4. Network with professionals in the Fintech industry
No man is an island. So you can learn more about the fintech industry by connecting with professionals who have gained years of experience and understand the market. The easiest way to network is by joining fintech associations, where you can have brilliant conversations with experts to get a complete picture of how the system works.
By building connections with these professionals, you can make meaningful relationships that can be helpful during a job search. These professionals can provide recommendations when you are ready to get a job.
A few associations, such as the Association for Financial Technology and the Wall Street Technology Association, connect service providers, fintech experts and consultants worldwide. LinkedIn is also a good platform to meet other fintech experts. And by attending fintech events, startup launches and conferences, you can create valuable relationships.
5. Apply for an internship in the finance area
The process of starting a career in fintech is only complete with practical experience in the field of finance. While applying to a fintech company works, interning at a fintech startup makes sense. Internships will provide all the experience you need, from launching the company to building and scaling up the resources.
In this way, you will learn how the industry works and add these experiences to your CV when you search for jobs in a larger fintech company.
6. Gain specialization and apply for full-time jobs
An important step in kick-starting a fintech career is getting a specialization. Now this goes far beyond taking courses online. You need to acquire certifications in your area of interest and niche down, which also confirms your professionalism. Gaining specialization is key because it gives you an edge when applying for jobs.
Once you have specialized in your areas of interest, you can start applying for jobs. One way to do this is by sending cold emails to the fintech companies you have shortlisted. You can also apply directly for openings on their website. However, it would be best if you researched these companies to know how to properly present them.
Fintech is the next big thing
The growing trends in fintech sporadically show that it has been over the years. The rise of Web3 and super apps proves that fintech is the next big thing. Starting a career in the fintech industry requires due diligence and research into important areas such as blockchain technology.
