The Trade - Issue 49 Autumn 2016

n News analysis

In the UK alone, the Fin Tech industry consists of over 60,000 staff according to a report authored by EY in 2014, and this is increasing significantly.

Statistics show that investments in the banking and payments sector in the UK accounted for 46% of the total country’s investment last year. The demand for Fin Tech talent is moving as quickly as the growth of the overall sector.

The Government has estimated that by 2020 there will be 100,000 employed within a Fintech company in the UK.

“There are plenty of individuals moving between Fintech start-ups, as well as fresh faces from university campuses to feed this particular need,” according to director at Proviti, Derek Cummings.

Proviti is a global business consulting and internal audit company, which retains over 3,500 staff across technology, litigation, risk compliance operations remits.

It seeks to “hire and develop diverse thinkers, from recent graduates to experienced professionals,” to advise over 35% of both the FORTUNE 500 and Global 1000 corporations.

Cummings explained the phase of growth a Fin Tech company will determine the hiring and retaining challenges it will face, and there are many a long the way.

So, what’s so great about being a part of the Fin Tech sector?

Parth Desai, chief executive officer at Pelican, explained working for a small firm in the Fin Tech sector is exciting for all involved.

“Things happen very quickly at small and agile Fin Tech firms, and the staff witness the effects of their contributions which is very exciting to be a part of,” Desai explained.

Pelican employs artificial intelligence to create solutions for corporate and bank sanctions compliance.

It has been going for over 20 years, with clients all over the world and three main office locations.

The company looks for confident, focused, knowledgeable and success-driven individuals when hiring new staff.

Desai believes younger generations are constantly looking to participate in something new and different, which is exactly what Fin Tech can offer.

“Fin Tech is on top of the latest technology, providing new opportunities for people which helps us develop and improve our products constantly and more effectively,” he said.

Caroline Langron, managing director at Platform Black, echoed Desai’s thoughts on the reasons behind the sector’s talent growth.

“Sometimes people forget how exciting it is to work for a small company with big ambition. In small companies you can make a real difference and you are not just one of a thousand,” she said.