The Top 3 Fintech Trends in Singapore for 2022:

1. Virtual Banking takes off

According to a new report by Fintech News Singapore and Alibaba Cloud, consumers and businesses are flocking to digital banking services, local BNPL players are raising massive rounds of funding, and PayNow, Singapore’s instant electronic payment service, is seeing massive volumes of transactions, demonstrating strong uptake of digital payments. As banking habits change and technology develops, Singaporean consumers and small and medium-sized businesses (SMEs) are rapidly adopting virtual banking, according to our analysis. Customer sign-ups for DBS Bank’s Digibank mobile app increased by 216 percent year over year between June and August 2020. (YoY). Digibank has a customer base of 3.5 million people.

Similar development has been reported by local rival Oversea-Chinese Banking Corporation (OCBC), which said that the number of new SME accounts created online increased by 2.4 times in Q1 2020 compared to the previous year. Similarly, in Q1 2020, United Overseas Bank (UOB) saw a 406% YoY rise in online investment product purchases. Customer expectations are evolving, and demand for digital financial services is increasing, resulting in an increase in virtual banking usage.

2. Digital Payments Accelerate

The rise of digital payment solutions, particularly e-wallets, is being fueled by the increase of online shopping, the shift toward cashless payments in brick-and-mortar establishments, and advancements in real-time payment. According to the FIS 2021 Global Payments Report, e-wallets were the second most common payment method for e-commerce purchases in Singapore in 2020, after credit cards. E-wallets are predicted to surpass credit cards and account for 27% of all online purchase transactions by 2024. Individual registrations for PayNow, Singapore’s peer-to-peer (P2P) financial transfer service based on the Fast And Secure Transfers (FAST) rapid interbank payment rail, increased by 1.6 million in 2020, increasing the total to 4.9 million. In the meantime, PayNow Corporate registrations have more than doubled to almost 240,000.

3. Increase use of BNPL

BNPL is another thriving fintech area in Singapore. BNPL arrangements are a sort of short-term financing that allows customers to buy something and pay for it over time.Since the beginning of the pandemic, these items have grown in popularity in Singapore, as consumers seek to stretch their dollars and online merchants aim to capitalize on the move to online channels to promote sales. According to Milleu Insight research, 30% of Singaporeans aged 25 to 40 have utilized a BNPL service. The greatest motivators for using BNPL services, according to 67% of users, are prizes or cashbacks. BNPL providers have stated that they are seeing a lot of traction and growth. During the epidemic, Hoolah, one of Singapore’s most famous players, had a 1,500 percent increase in transactions.

Conclusion

There are many ways to contribute to the fintech ecosystem, but first it is always best to have the basic understanding of what fintech really is. CFTE provides great fintech courses where you can chat with our CFTE’s customer support to guide you on which fintech path is best suited for you. You can check out the CFTE page to find out more about their self-paced flexible courses from Digital Payments to Open Banking and Artificial Intelligence in Finance. For Singaporean PR and residents, there are loads of subsidies and discounts 80-90% for your benefit, so just reach out to learning@cfte.education to find out more!

The post Singapore Fintech Market Overview 2022 appeared first on CFTE.

What are Core Business Finance roles in Fintech?

The Core Business Finance section encompasses jobs that can be typically found in traditional financial institutions. These roles are directly involved in the core activities of the Fintech company. This is a broad category, and the types of roles vary based on the type of the organisation and their specific operations (insurance, payments, banking, wealth management…). The pay scale for these roles ranges from $52k – $169,000 per year.

To learn more on the how to thrive in Core Business Finance roles in Fintech, read more at Fintech Job Report.

Top skills to to work in Core Business Finance roles in 2022

Core Business Finance roles in Fintech require one to be equipped in:

1. Hard skills such as data analysis and financial knowledge.
2. Soft skills such as customer service and communication skills.
3. Mindset such as customer-centricity and analytical thinking.
4. Industry knowledge such as background in Finance, Accounting, Statistics or equivalent.

Is work experience needed to work in Core Business Finance roles?

On average, these are not many entry level positions and they require some experience in the same comparable role. Graduate roles and internships are very rare as at least 2 years of experience in the same or comparable role is necessary.

How to become a Core Business Finance ideal candidate in Fintech?

Certifications: Individuals working in core business finance roles may have bachelor’s degree in finance, accounting, economics, mathematics, business or an equivalent course is a common prerequisite.

Experience: These roles require at least 2 years + of experience. Core business finance position are quite rare in Fintech, there are definitely more opportunities of this nature in traditional financial institutions, both when it comes to more junior and senior positions. A successful candidate will have to showcase a strong passion and interest in Fintech and the specific sector in which
that organisation operates.

Skills: The right soft skills and mindsets play a role in securing positions at Fintech companies but also building your career as a core business finance roles.

Top Core Business Finance roles in Fintech

Credit analyst

The role of a credit analyst is rarely an entry-level position and requires some previous professional experience in the same or equivalent job. This is a highly analytical position and proficiency in Microsoft Excel is a minimum requirement.

Portfolio analyst

This is a position that usually requires previous experience in asset management or an equivalent role. Due to the nature of the job, a portfolio analyst should have a strong financial and data analysis skills, as well as a strong understanding of economics and market trends.

Underwriter

In Fintech companies, this is typically not an entry-level position, as 1-2 years of professional experience is required. Underwriting is a highly quantitative role, so being able to demonstrate strong mathematical and statistical skills is important.

Fraud analyst

This is a customer-facing role that can mostly be found in Paytech companies. A fraud analyst focuses on reviewing transactions, identifying any fraudulent activities and implementing processes that mitigate these events based on pre-identified patterns of risk.

Treasury analyst

Treasury analysts oversee cash management, funding, foreign exchange or financial management activities of their organisation. This is a highly quantitative role which revolves around analysing and interpreting financial data, forecasts, preparing and presenting reports and developing cash and asset management strategies. Specifically when it comes to Fintech companies, this role is the most relevant to challenger banks.

Claims Specialist

Depending on the seniority of the position, prior claims or general insurance experience might be required. For more senior and advanced positions a bachelor’s degree may be required, although, typically only a high school diploma or equivalent is sufficient. Strong verbal communication and investigative skills are also common must-haves. Finally, proficiency with the Microsoft Office Suite and overall PC literacy are highly desirable

Actuary

Typically, a higher-level education in a quantitative discipline is necessary. Being an associate or in the process of becoming an associate of IFoa or an equivalent actuarial organisation is a common requirement. This is a role that requires strong numerical and technical skills, so knowledge of R, Python, SQL as well as statistical modeling softwares are crucial.

Conclusion

These roles offer opportunities from entry level to senior positions with companies mostly interested with professional experience. Understanding a company’s specific needs and the skills required in your role goes a long way in switching industries or Fintech sectors for Core business finance roles. Read more at Fintech Job Report.

The post Top skills to work in Core Business Finance roles in Fintech | 2023 appeared first on CFTE.

What are Risk & Compliance roles in Fintech?

The pay scale for the risk and compliance roles ranges from $73k-$173k per year. Individuals in these roles should have substantial experiences handling regulatory and legal issues related to Fintech and Financial Services. Additionally, having a strong foundation of legal knowledge and an understanding of regulatory frameworks, licensing and applications, compliance and enforcement matters or privacy and cybersecurity is crucial in making sure that risk is managed appropriately.

To learn more on the how to thrive in Risk & Compliance roles in Fintech, read more at Fintech Job Report.

Top skills to to work in Risk and Compliance roles in 2022

Risk and Compliance roles in Fintech require one to be equipped in:

1. Hard skills such as Finance operation and database operations.
2. Soft skills such as active listening skills and cross-functional collaboration.
3. Mindset such as proactive and forward thinker.
4. Industry knowledge such as experience in different regulatory frameworks both nationally and internationally

Is work experience needed to work in Risk and Compliance?

Risk & compliance roles typically require a bachelor’s degree in Law and about 5-15 years of experience for more senior positions. For entry level roles and internships, an ongoing bachelor’s degree is acceptable.

How to become a Risk and Compliance ideal candidate in Fintech?

Certifications: Individuals working in these roles are required to have bachelor’s/masters or PhD degree in relevant subjects.

Experience: Risk & compliance roles typically require a bachelor’s degree in Law and about 5-15 years of experience for more senior positions. For entry level roles and internships, an ongoing bachelor’s degree is acceptable.

Skills: The right soft skills and mindsets play a role in securing positions at Fintech companies but also building your career as a risk and compliance officer.

Top Risk and Compliance roles in Fintech

Compliance Officer

Compared to pure Finance companies, a compliance analyst working in Fintech may work closely with the Engineering or Data department to implement automated compliance tools. Hence, an interest and passion for technology holds great importance.

Risk Intelligence Engineer

Previous relevant work experience includes working on large scalable database platforms as well as designing and implementing data models specifically for Fintech and Financial Services. Strong technical skills are a strict requirement, moreover good time management and organisational skills. This is typically not an entry level position.

Privacy & Compliance Engineer

This is not an entry level position and requires previous experience in software engineering that allowed for great exposures to a variety of programming languages. Passion for security, privacy and compliance or experience in highly regulated industries are often an advantage. The ability to understand Data Privacy regulations constitutes to an advantage.

Fraud Officer

In Fintech companies this is a crucial role to comply with regulations and avoid reputational damages for companies that are typically building up their reputation. In addition, in order to identify fraud efficiently basic coding skills are required to develop automated solutions.

AML Officer

An Anti-Money Laundering officer implements the company AML policy to ensure that the company is not exposed to criminal risk by inadvertently facilitating financial crime. This role, often required by law, is crucial for Fintech companies that often aim to hire experienced AML given that their core business might be easily used with bad intentions.

Financial Crime Officer

Financial Crime Officers identify, assess and mitigate financial crime risks. They assist in the development of mitigation solutions while collaborating with the Compliance officer, Legal Department and Product Management team. As for the Compliance officer, Financial Crime team heads often collaborate with external stakeholders such as Regulators of Government authorities. In Fintech companies this role often requires strong technical skills especially when it comes to databases or Data Analysis.

Cyber Fraud Investigator

Typically this role requires at least 3 years of relevant experience in the Information Security field, proficiency in data analysis and databases, knowledge of security frameworks, network infrastructure and AML regulations. Tech skills and the ability to communicate effectively at multiple levels are crucial skills for this role. Due to very frequent cyber-attacks, cyber fraud investigation is a role that helps protect the company reputation and credibility with external stakeholders.

Regulatory Policy Officer

Regulatory Policy Officers identify compliance obligations based on financial regulations. In certain circumstances, they liaise with external stakeholders such as regulators. Fintech companies often do not have the necessary know-how when it comes to the regulatory environment, hence this role is crucial to their success and competitiveness.

Technical Program Manager

A Technical Product Manager manages cross-functional product security projects while developing and improving Compliance Program documentation procedures. In Fintech companies, one of the roles a Technical Programme Manager holds is to reduce the Compliance burden for Engineers while partnering with cross-functional teams within Engineering, Risk And Compliance, Product and Finance.

Conclusion

These roles offer opportunities from entry level to senior positions with companies mostly interested with professional experience. Understanding a company’s specific needs and the skills required in your role goes a long way in switching industries or Fintech sectors for Risk and Compliance roles. Read more at Fintech Job Report.

The post Top skills to work in Risk & Compliance roles in Fintech | 2023 appeared first on CFTE.

What are Partnerships roles in Fintech?

This is a new role that has emerged in banks and Fintech companies. Individuals
holding these positions are in charge of helping with customer acquisition or the
delivery of a product or service. Typically, they are highly experienced in related roles
such as Sales, Marketing or Business Development.

The pay scale for Partnerships range from $52k to $117K per annum. Since this is a relatively new position, little to no formal training is required. Some companies may accept candidates with limited experiences for the more entry-level positions. When it comes to the more senior or managerial position, 2-10 years of experience is desirable. A bachelor’s degree in business administration or a similar field is sometimes a prerequisite.

To learn more on the how to thrive in Partnerships roles in Fintech, read more here.

Top skills to to work in Partnerships in 2022

Partnerships roles in Fintech require one to be equipped in:

1. Hard skills such as product/project management, sales, account management etc.
2. Soft skills such as analytical skills, cross-functional collaboration etc.
3. Mindset such as team player, proactivity etc.
4. Industry Knowledge such as sales, business development, account management etc.

Is work experience needed to work in Partnerships?

Experience in similar roles are quite important in Fintech or tech companies. Individuals holding these positions are in charge of helping with customer acquisition or the delivery of a product or service. Typically, they are highly experienced in related roles such as Sales, Marketing or Business Development. However, these alone are not enough as certifications in the specific roles are mostly sought after in job descriptions.

How to become an ideal Partnerships candidate in Fintech?

Certifications: Bachelor’s degree in business is advantageous.

Experience: Experience in similar roles across industry are quite sought after especially in marketing, project/product management, business development, sales, account management or similar roles which may require a candidate being aware of the company’s operations or the industry knowledge.

Skills: While hard skills and industry knowledge is important in getting interviews and jobs. Soft skills and mindsets go a long way in building your Fintech career.

Top Partnerships roles in Fintech

Sales Partnerships

Previous relevant experience includes sales experience, in particular, within the partner sector. Great communication
skills are essential as well as the ability to clearly present the firm’s brand. In order to understand and sell the product of the Fintech company, some technical skills may be required. Regional languages constitute to a further advantage.

Strategic Partnerships

Previous relevant experience includes working for a Financial institution or a Network with a focus in the B2B market and other Fintech companies that have a focus on B2B. Crucial skills for this position include strong analytical skills, ability to handle complex deals that involve multiple parties as well as relationships/project management.

Marketing Partnerships

Relevant experience for this role includes Marketing Manager, Brand Partnership Manager and Business Development Strategist in Tech or Consulting, ideally in regulated industries. Deep understanding of the Fintech firms product is also a requirement while crucial skills for this role are communication, leadership and negotiation.

Conclusion

These roles offer opportunities from entry level to senior positions with companies mostly interested with professional experience. Understanding a company’s specific needs and the skills required in your role goes a long way in switching industries or Fintech sectors for Partnerships roles. Read more here.

The post Top skills to work in Partnerships in Fintech | 2023 appeared first on CFTE.

What is Sales & Business development in Fintech?

The pay scale for IT & Operations range from $74k to $130K per annum. Qualifications for these roles include either professional experience in a similar role or a bachelor’s degree in a relevant field is sometimes required.

To learn more on the how to thrive in Sales & Business development roles in Fintech, read more here.

Top skills to to work in Sales & Business development in 2022

Product managers roles in Fintech require one to be equipped in:

1. Hard skills such as CRM, sales etc.
2. Soft skills such as communications skills and interpersonal skills, Cross-functional collaboration etc.
3. Mindset such as entrepreneurial mindset, proactive etc.
4. Industry Knowledge such as understanding of Fintech industry, experiences with B2B sales, B2C sales.

Is work experience needed to work in Sales & Business development?

Experience in similar roles are quite important as formal education is not a necessity. While Sales and Business Development roles are common in traditional banking sectors and technology companies, they play a vital role in Fintech companies, especially when it comes to those servicing niche markets.

How to become a Sales & Business development ideal candidate in Fintech?

Certifications: Undergraduate degrees are not compulsory for this role.

Experience: Experience in similar roles across industry are quite sought after especially in sales, marketing or business development.

Skills: While hard skills and industry knowledge is important in getting interviews and jobs. Soft skills and mindsets go a long way in building your Fintech career.

Top Sales & Business development roles in Fintech

Enterprise sales

This is often not an entry level position, as some roles require 8 years or more of experience in a role selling complex enterprise software, technical infrastructure or a financial service. Experience in payments is also desirable and those
working in enterprise sales tend to have an extensive network in retail banking or automotive financing industries.

Business development

This is an entry level position as a minimum of 1-3 years of experience in Sales Development, Lead Generation or Sales is required. For Business Ops, more experience is required (3-4 years). Prerequisites include a Bachelor’s degree and a proven track record of exceeding high volume opportunity growth sales quotas in hyper-growth environments.

Sales Engineer

Typically, 3+ years experience in eCommerce, Fintech or in a payments industry is required and experience working in a technical or commercial client-facing role. Sales Engineers also collaborate with those working in Product, Sales, IT & Operations.

Partner sales

Prerequisites include analytical skills, partner sales experience, ability to work cross functionally, experience within a B2B Sales environment and knowledgeable about financial services / financial markets. A bachelor’s degree is sometimes required, however, having previous relevant experience in a professional environment tends to be the main priority for employers.

Conclusion

These roles offer opportunities from entry level to senior positions with companies mostly interested with professional experience. Understanding a company’s specific needs and the skills required in your role goes a long way in switching industries or Fintech sectors for Sales & Business development roles. Read more here

The post Top skills to work in Sales & Business development in Fintech | 2023 appeared first on CFTE.

What is Marketing & Communications in Fintech?

The Marketing and Communications team are responsible for the activities that engage with the Fintech’s current and potential customers, building a strong relationship with them, as well as promoting the product to a wider audience. The nature of this role can vary greatly, from more creative tasks, such as copywriting, creating digital marketing campaigns and materials, to more analytical tasks, such as designing marketing automation flows or CRM integration.

The pay scale for Marketing & Communications range from $41k to $149K per annum. Qualifications for these roles include bachelor’s degree in a relevant field is sometimes required. Typically, previous extracurricular or professional experiences in a similar position is required.

To learn more on the how to thrive in product management roles in Fintech, read more here.

Top skills to to work in Marketing & Communications in 2022

Marketing & Communications roles in Fintech require one to be equipped in:

1. Hard skills such as Microsoft suite, marketing automation, web analytics etc.
2. Soft skills such as communications skills, Cross-functional collaboration etc.
3. Mindset such as customer centricity, attention to detail etc.
4. Industry Knowledge such as professional experience, understanding Fintech trends etc.

Is work experience needed to to work in Marketing & Communications?

Experience in similar roles are quite important in Fintech or tech companies. In Marketing & Communications roles are responsible for the activities that engage with the Fintech’s current and potential customers, building a strong relationship with them, as well as promoting the product to a wider audience. The nature of this role can vary greatly, from more creative tasks, such as copywriting, creating digital marketing campaigns and materials, to more analytical tasks, such as designing marketing automation flows or CRM integration. However, these alone are not enough as certifications in the specific roles are mostly sought after in job descriptions.

How to become a Marketing & Communications ideal candidate in Fintech?

Certifications: Undergraduate degree are sometimes required in sales, marketing or communications, however, professional experience is highly sought after.

Experience: Experience in similar roles across industry are quite sought after especially in technical experience of software may require a candidate being aware of the company’s operations or the industry knowledge.

Skills: While hard skills and industry knowledge is important in getting interviews and jobs. Soft skills and mindsets go a long way in building your Fintech career.

Top Marketing & Communications roles in Fintech

Growth Marketer

This is typically not an entry-level position and requires previous professional experiences in a similar role. Growth marketing is a highly analytical and data-driven for this reason, methods such as A/B testing are also commonly used.

Communications

Prerequisites for this role will vary depending on seniority, however, having a relevant professional background is standard. For entry-level positions, these skills can be gained through extracurricular activities or projects. A bachelor’s degree in communications or journalism could be an asset during the application process, however, it usually isn’t a requirement.

Copywriter

Copywriting is seldom an entry-level position in FinTech, therefore, previous professional experience in the field is usually required. An interest in UX and UX-writing is also beneficial. A university degree is not a common requirement, however, degrees in essay-based degrees such as English or History might be an asset. Instead of academic qualifications, employers will typically ask for examples of previous work. Finally, knowledge and interest in Fintech is highly desirable

CRM

Typically, a minimum of 2-3 years experience of working with CRM & Marketing Automation is required as well as a BA degree. A bachelor’s degree in Information Technology, Business and Marketing or any other related fields is an advantage but fundamentally, a university degree is required regardless of the discipline.

Performance Marketing

Prerequisites for performance marketing include at least 3+ years of experience designing for marketing campaigns with a Bachelor’s degree or equivalent practical experience. Those in performance marketing have a strong understanding of analytics, testing and metrics, as well as a good knowledge of other markets.

Marketing Automation

Prerequisites for entry level positions include 3+ years experience working within CRM & Marketing Automation and
other analytical tools to ensure customer understanding and campaign results. For managerial roles, 5+ years of experience is usually required. A Bachelor’s degree with a focus in Marketing, Information Systems is desirable but any discipline is acceptable.

Conclusion

These roles offer opportunities from entry level to senior positions with companies mostly interested with professional experience or a bachelor’s degree. Understanding a company’s specific needs and the skills required in your role goes a long way in switching industries or Fintech sectors for Marketing & Communications roles. Read more here

The post Top skills to work in Marketing & Communications in Fintech | 2023 appeared first on CFTE.

eFinancialCareers is perceived to be a popular careers platform, dedicated to financial services. It also provides a handful of guidance and insights on how to progress professionally, gathering professional and communal opinions. It is said to be active in almost 20 geographic regions, and serve as a solid bridge between employers and jobseekers across most types of financial services.

Inspired by CFTE’s Fintech Job Report, their recent article highlighted the skill aspect of new entities and tied it to some existing opinions. So, it was proposed that, “If you’re a software developer interested in the Fintech sector, this means learning languages that aren’t used very much in banking”,  should one be seeking a “job in a hedge fund, it will help if you learn Python or C++. If you want a job in a bank, it will help if you learn Java or Python. But if you want a job in a Finthech, you might still want to add in JavaScript, Ruby, PHP, HTML and CSS”.

A co-founder of CFTE, Huy Nguyen Trieu, has also been mentioned in the article, saying that, ”The biggest risk for your finance career is complacency and falling behind”, “…when you’re working for a big bank you don’t realize how quickly the world has moved on. You lose your job, and suddenly you find that your skills are totally outdated”. 

About CFTE:

CFTE is a global knowledge platform in digital finance that aims to liberalise education by making learning about the biggest technologies and trends in finance accessible to anyone. We help people build skills to transform their careers with courses that go beyond traditional learning. At CFTE you can learn from those steering the biggest developments in the financial sphere – from global CEOs to disruptive entrepreneurs hailing from Starling Bank, UBS, Mastercard, IBM and other large institutions. To help meet every learner’s goals, CFTE offers Specialisations to get certified in any area of digital finance as well as continuous learning material to stay on top of the latest trends in digital finance 365 days a year on THINK. From beginner to master, at CFTE there is something for everyone.

Contact details:

Press Contact: press@cfte.ecucation

Partnership Contact: partners@cfte.education

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The Financial Brand is an electronic communication platform that focuses on retail bank and credit union communication and management challenges. It is the one-stop-shop for C-level bank representatives searching for the most up-to-date thinking, ideas, and data on how financial services providers construct their identities.

What is interesting to highlight is that, building on CFTE’s research for the Fintech Job Report, they have questioned, “who is available to be hired that will implement all this new technology”, in response to surprising revelations of the report. Proposals were brought as originating from “young people more skilled in technological applications than financial knowledge, but who are willing to absorb enough of the latter” and “people already in financial services who are open to retraining”.

The article also featured an interview with CFTE’s co-founder, Tram Anh Nguyen. Notably, she stated, “The main thing that comes out from the report is that technology constitutes the core competency that is needed… If you don’t understand technology, I think you can’t do any jobs with Fintech”. She also proposed that for the current day, “…success factors are the same as those for Amazon, which are customer centricity, real-time interactions and product innovation, thanks to technology. That means banks and credit unions need to adapt to these factors, or become totally obsolete because of new competitors that use these new tools”.

About CFTE:

CFTE is a global knowledge platform in digital finance that aims to liberalise education by making learning about the biggest technologies and trends in finance accessible to anyone. We help people build skills to transform their careers with courses that go beyond traditional learning. At CFTE you can learn from those steering the biggest developments in the financial sphere – from global CEOs to disruptive entrepreneurs hailing from Starling Bank, UBS, Mastercard, IBM and other large institutions. To help meet every learner’s goals, CFTE offers Specialisations to get certified in any area of digital finance as well as continuous learning material to stay on top of the latest trends in digital finance 365 days a year on THINK. From beginner to master, at CFTE there is something for everyone.

Contact details:

Press Contact: press@cfte.ecucation

Partnership Contact: partners@cfte.education

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What are design roles in Fintech?

The role of a designer can vary a lot as they play a crucial part in many areas of a Fintech company’s operations. They can be in charge of creating and iterating the design of a product, producing digital content such as social media posts, videos, infographics or even looking after the User Experience (UX) aspect of the service. The pay scale for design roles in Fintech range from $68k to $125K per annum. Qualifications for these roles include bachelor’s degree in a relevant field is sometimes required, additionally, Students or young professionals who have pursued their designing interest through personal projects can still be eligible to apply for more junior roles.

To learn more on the how to thrive in design roles in Fintech, read more here.

Top skills to to work in design roles in 2022

Design roles in Fintech require one to be equipped in:

1. Hard skills such as Digital designing tools (Sketch, Figma, Adobe Photoshop, InVision, Canva Pro…) and Creating and editing videos etc.
2. Soft skills such as Excellent communications skills, project management etc.
3. Mindset such as creativity, strategic mindset etc.
4. Industry Knowledge such as Professional experience and portfolio or previous relevant work.

Is work experience needed to work in Design?

Experience in similar roles are quite important in Fintech or tech companies. In design roles having a portfolio of work relevant to Fintech is advantageous as this helps with professional expertise and knowledge. However, these alone are not enough as certifications in the specific roles are mostly sought after in job descriptions.

How to become a design ideal candidate in Fintech?

Certifications: Undergraduate degree are rarely required, however, for a bachelor’s degree in design or any comparable course can be an advantage

Experience: Experience in similar roles are not compulsory but an interest in the company’s operations or the industry knowledge is important.

Skills: While hard skills and industry knowledge is important in getting interviews and jobs. Soft skills and mindsets go a long way in building your Fintech career.

Top design roles in Fintech

Product designer

This is usually not an entry-level position and requires professional design experience in areas such as consumer facing mobile and web applications. A bachelor’s degree in HCl, Design, Architecture or a related field can be a prerequisite.

Content designer

A position in content design varies from entry level with 2+ years of experience to 8+ years combined experience for more senior roles. Knowledge of digital design tools such as Adobe Photoshop, Illustrator, Sketch or Figma are common. Animation tools like Motion Graphics, Adobe Animate or Sparks are usual prerequisites and are nice to have.

Art director

This is usually not an entry level position and requires experience both from the creative agency side and also the brand side. Art Directors can be often seen collaborating with photographers, directors or set-engineers, so good communication and team working skills are also important.

UX Writer

Generally, for more entry level positions, 2+ years experience working in UX writing for digital products, apps or websites is required. However, for some senior roles, 5+ years of experience is required. The most fundamental skills of a UX writer is the ability to empathise with users and implement these insights into their work in the form of navigation items or error messages.

UX Researcher

Relevant professional experiences as a UX Researcher in a digital company are common prerequisites, however,
equivalent skills can be gained through various personal projects as well. A university degree is sometimes required, with the most desirable majors being Design, Psychology, Cognitive Sciences or any other research-intensive course.

Conclusion

These roles offer opportunities from entry level to senior positions with companies mostly interested in professional experience. Understanding a company’s specific needs and the skills required in your role goes a long way in switching industries or Fintech sectors for design roles. Read more here

The post Top skills to work in Design in Fintech | 2023 appeared first on CFTE.

Fintech is the culmination of two words: Finance and Technology. However, despite what most might believe, our research shows that Fintech companies are much closer to Tech companies, not only in terms of business structure, but also job prospects.

80% of the Jobs in Fintech are Roles of Tech Companies

There are currently over 40,000 Fintech job postings worldwide and on average, 80% of the job positions are roles of Tech companies, not Finance. In the Fintech Job Report, we differentiate between the roles of Tech companies and Finance companies. Roles of Tech companies include typical “tech jobs”, such as software engineering or IT, but also marketing or partnerships. Roles of Finance companies are roles usually found in banks and financial institutions, such as Risk and Compliance. 

Depending on the Fintech sector, this split between types of roles can vary, however, it is clear that the vast majority of Fintech jobs resemble those of Tech companies. In sectors such as Blockchain, Finance roles are few and far between – only 5% of the total jobs. Insurtech is a Fintech sector in which Finance roles such as actuaries have the highest representation – 35%, which is still the minority. 

The Structure and Culture of Fintech Companies

Fintechs mirror Tech companies when it comes to the nature of jobs, but also culture and structure. 

In respect to structure, Fintech companies are much smaller and therefore have flatter structures. Visa, the largest Fintech company in terms of size and market capitalization, has 20,000 employees, JP Morgan, which is valued at around $490Bn – similar to Visa, employs 255,000. 

The fact that Fintech companies are much smaller in size than its more traditional counterparts reflects not only in their ability to be more flexible in terms of their business operations, but also culture. Fintech companies place a lot of importance on the candidate’s ability to fit into their fast-paced and dynamic culture. Our research for the Fintech Job Report showed that besides hard skills and experiences – things one can easily display on their CV, having the right mindset and soft skills is essential. Some of the most recurring ones were: communication, collaboration, self-learning, adaptability or independence.

To learn more about the landscape of jobs in Fintech and gain an insight on the necessary skills to succeed in this dynamic and ever-evolving industry, download the world’s first Fintech Job Report.

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