Chris Skinner an influencer public figure in the financial technology space, is a renowned author and speaker in the industry. Chris quotes CFTE’s Fintech Job Report that analysed 225 Fintech Unicorns and 40,000 job roles to identify key trends in the financial services landscape.

Based on CFTE’s research, Chris Skinner wrote, “FinTech? A flash in the pan? No, it’s worth a third of all banking……Any banker who believes that FinTech is not a threat to their core business is deluded. I said this the other day, and I will say it again: banking is being reinvented by technology. That’s why FinTech counts, especially when we consider Open Banking, but it’s more than this. It’s the core of what I said way back when in Digital Bank.”

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

The post Chris Skinner, quotes CFTE’s Fintech Job Report saying Fintech is not a flash in the pan, it’s worth a third of all banking appeared first on CFTE.

London, 10th of November 2021 – The Centre for Finance, Technology and Entrepreneurship (CFTE) is cooperating with Magyar Nemzeti Bank (MNB, the Central Bank of Hungary) during the World Fintech Festival in Budapest, an official partner event of the Singapore Fintech Festival, which this year will highlight the impact of Web 3.0 on financial services. CFTE and MNB will be organising a series of panels and keynote speeches on the 11th of November with business leaders from Wise, Microsoft, PwC and more and CFTE experts.

The Centre for Finance, Technology and Entrepreneurship (CFTE) and Magyar Nemzeti Bank (MNB, the Central Bank of Hungary) will be supporting the World Fintech Festival in Budapest 2021, in partnership with the Singapore Fintech Festival (SFF). CFTE and MNB, as part of its involvement in the occasion, will be participating in 4 sessions on the 11th of November that includes keynote speeches, panel discussions and a fireside chat. The theme of CFTE and MNB’s events at the World Fintech Festival in Budapest 2021 will revolve around sustainable finance, cybersecurity, the future of money, and evolving jobs in fintech and finance.

On the 11th of November, CFTE and the MNB will commence the day of events with a welcome and opening remarks from esteemed speakers including:

• György H Matolcsy, Governor, Magyar Nemzeti Bank (Central Bank of Hungary)
• András Baranyi, Deputy Secretary of State for the development of Eastern relations, Ministry of Foreign Affairs and Trade of Hungary
• Andrew McCormack, Centre Head, BIS Innovation Hub Singapore

The first session of the day will be centred around “Finance 3.0 Platforms: Digital. Sustainable. Decentralized?”, to highlight what potential Decentralised Finance has for the benefit of all and how we can harness the power of fintech to unlock financing for sustainable development and to encourage green finance.

The segment includes a keynote speech by Claire Calmejane, Chief Innovation Officer, Societe Generale Group, who is also a CFTE Expert and Senior Lecturer. The panel during this session will be moderated by Tram Anh Nguyen, the Co-founder of CFTE. Speakers on the panel will include:

• Surenda Chaplot, Global Head of Product (Cards & Wise Platform), Wise
• Péter Csányi, Deputy CEO & Head of Digital Division, OTP Bank
• Marianne Haahr, Executive Director, Green Digital Finance Alliance (GDFA)
• Anca Bogdana Rusu, Head of Strategy, cLabs (Celo)

The second segment of the day will focus on “Cybersecurity In Finance: If It Is Smart, Is It Vulnerable?”. With digital transformation accelerating – the new agile infrastructure also needs to be protected and the discussion aims to focus on the new solution and initiates in the cybersec space and in the public domain.

This segment includes a keynote speech by Michal Braverman-Blumenstyk, Corporate Vice President and CTO of the Cloud and AI Security division, Microsoft, and General Manager of Israel Research & Development Center. The panel during this session will be moderated by Peter Durojaiye, Partner, leading the EMEA hub of PwC’s Global Cybersecurity Impact Center, PwC. Speakers on the panel will include:

• Grace Chong, Of Counsel (Regulatory & Digital Business), JWS Asia Law Corporation
• Jean-Philippe Desbiolles, Vice-President & Managing Director of Financial Services, IBM
• Steffen Minkmar, Head of IT Security, European Investment Bank
• Raul Rikk, National Cyber Security Policy Director, Ministry of Economic Affairs and Communications, Republic of Estonia

The third segment of the day will focus on the topic “At The Dawn Of A New Age – CBDC, The Money Of The 21st Century” to shed more light on the future of digital money and payments that will revolutionise the way we transact.

The segment includes a keynote speech by John A Rolle, Governor, Central Bank of the Bahamas. The panel during this session will be moderated by Chris Ostrowski, Global Head of Public Sector Engagement, cLabs (Celo). Speakers on the panel will include:

• Serey Chea, Assistant Governor, National Bank of Cambodia
• Tom Mutton, Director, Central Bank Digital Currency unit, Bank of England
• Nick Ogden, Founder and Director, RTGS.global
• Anikó Szombati, Chief Digital Officer, Executive Director for Digitalization and FinTech support, Magyar Nemzeti Bank (Central Bank of Hungary)

As the three segments close, the event will conclude with a final Fireside Chat focusing on ‘Gearing Up For New And Evolving Jobs In Financial Services & Fintech’. The session will be moderated by Tessy Antony de Nassau, FinTech Investor & Consultant and will include speakers like Tram Anh Nguyen, Co-Founder, Centre for Finance, Technology and Entrepreneurship (CFTE) and Gergely Fábián, Executive Director for Financial System Analysis and Statistics, Magyar Nemzeti Bank (Central Bank of Hungary) & CEO, Budapest Institute of Banking.

“Financial innovation is here with us, and it is global. We have to embrace it, and have to inform our customers about the potential opportunities and risks. But central banks have an additional task as well, to study and carefully design the money of the 21st century. MNB, the central bank of Hungary is happy to host World FinTech Festival in Budapest 2021, where we can bring the best international minds to the doorstep of the Hungarian financial community, and we can also make our results globally visible.”

Szombati Anikó, Chief Digital Officer (CDO) at Magyar Nemzeti Bank (Central Bank of Hungary)

“We’re honoured to be a partner of the Central Bank of Hungary for the World Fintech Festival (WFF) in Budapest 2021 at the Singapore Fintech Festival (SFF) this year. The partnership with the Central Bank of Hungary involved working together to gather leaders from all around the world to join the WFF, to share the latest trends and innovations in the future of finance with the main themes centered around Finance 3.0, digitalization and sustainability, decentralized finance, cybersecurity and central bank digital currencies. I believe these new technologies will have a big impact on people and this cannot be ignored. We have to ensure our people can get the right knowledge to help them stay abreast of the latest developments in order to help them continue their lifelong learning and find new opportunities in this world of digital finance.”

Tram Anh Nguyen, CFTE’s Co-founder

These events will be taking place as part of the Singapore Fintech Festival, on the 11th of November 2021 on day 4 of the festival. CFTE and the Central Bank of Hungary would love to invite everyone to register and attend the event for free and benefit from expert-led discussions on the future of FinTech and Web 3.0 with our complimentary ticket.

We have some complimentary tickets for SFF

About Magyar Nemzeti Bank (Central Bank of Hungary):

Magyar Nemzeti Bank (MNB) is the central bank of Hungary and a member of the European System of Central Banks. The MNB performs all key central bank functions including conducting monetary policy, promoting financial stability, holding and managing official reserves, developing and monitoring the payment and settlement systems. As of 2019, under the direction of the Chief Digital Officer, MNB is actively committed to stimulate financial innovation and digitalisation by the tools of the central bank. In 2021 MNB, as a single European central bank has been given an unprecedented room for manoeuvre in the field of smart-green growth: it has been endowed by the parliament with a direct sustainability mandate.

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

The post CFTE joins the Central Bank of Hungary for the World Fintech Festival in Budapest at Singapore Fintech 2021 appeared first on CFTE.

London, 8th November 2021 – The Centre for Finance, Technology and Entrepreneurship analysed the 225 largest Fintech companies, representing $2.7T of market capitalisation, and identified 40,000 jobs offered by these companies in its Fintech Job Report. The research found that jobs in Fintech are much closer to jobs in tech companies rather than financial services, leading to the conclusion that “technology is eating finance” both in the innovation and recruitment trends. CFTE shares its report’s findings as it launched the world’s largest Fintech Job Report at the Singapore Fintech Festival on 8th November, 2021.

The Fintech industry employs more than 300,000 people, which is a significantly large number considering that the largest financial centres such as New York or London employ 450,000 and 400,000 people respectively. Despite its size, and because of its fast development, the Fintech sector is ill-understood with regards to the jobs and employment opportunities offered. 

CFTE analysed the 225 largest Fintech companies, representing $2.7T of market capitalisation, and identified 40,000 jobs offered by these companies. The research found that jobs in Fintech are much closer to jobs in tech companies rather than financial services, leading to the conclusion that “technology is eating finance” both in the innovation and recruitment trends. 

Technological innovation in Fintech has changed service delivery which has influenced skills, responsibilities, and expertise needed to succeed in the Fintech industry. Now, potential candidates need to learn continuously similar to those in tech roles; recruiters need to have clarity on the evolving roles required for their growing companies, and learning institutions need to equip candidates with the relevant skills. Additionally, FinTech roles are similar to those in technology companies. Consequently, roles in FIntech are much closer to those normally found in tech companies than in traditional financial services. These revelations allow individuals exploring FinTech roles to understand the skills they need to succeed in Fintech. These skills include soft skills, hard skills, mindsets, and experience. Interestingly, a platform engineer in e-commerce has more employability skills than a traditional banker in Fintech.

The report covers the 225 largest Fintech companies, including Paypal, Revolut, Nubank, Robinhood, or Adyen, ranging from challenger banks to cryptocurrencies and Insurtech. 

From these companies across the industries, relevant skills include;

• Hard skills in engineering, product management, risk & compliance such as programming, analytics and Finance operations.
• Soft skills such as communication, interpersonal skills, cross functional collaboration and presentation skills.
• Mindsets such as proactivity, forward thinking, continuous learning and entrepreneurial mindsets.
• Experience for diverse roles found in Fintech such as data science, design, marketing & communications to core business finance roles.

The report determined that transferable roles and mindset are key to succeed in the Fintech sector. As the whole industry becomes digital, roles in banks will increasingly follow the trends seen in Fintech.

The Fintech industry is continuously evolving making the job market dynamic. Roles and responsibilities are developing with each company having nuanced approaches in recruitment for roles and skills required thus the need for companies and learning organisations to understand the recruitment trends in the industry for better training, growth and retention of talent.

In conclusion, Fintech provides an opportunity for many individuals to create, start, grow and pivot into the industry with this report acting as a guide into the jobs in Fintech, the relevant skills for Fintech and thriving in FinTech culture by practising various soft skills and mindsets.

“A few years ago, the industry was wondering if banks should be tech companies or not. Our research shows that at least from an employment standpoint, Fintech companies are definitely tech, and not finance companies. This important finding should be taken into consideration by job seekers and students, but also banks and regulators.”

Huy Nguyen Trieu, Co-founder of CFTE

“Fintech is an industry which employs almost as many people as the whole finance sector of London, and is hiring 4 times more. It therefore represents a huge opportunity for those who want to join a fast growing industry with a lot of potential. Our research finds that hard skills are important, but that having the right mindset and soft skills is even more important to join the industry, which means that anyone with the right attitude can still be part of the Fintech growth story.”

Tram Anh Nguyen, Co-founder of CFTE

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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