Over the past decade, financial technology (FinTech) has emerged as one of the most exciting industries in the world. Modern businesses of all sizes depend on different technologies to go carry out their financial transactions and activities. Most recently, machine learning and blockchain are penetrating the financial sector, and for a good reason.
These technologies are gradually revolutionizing the financial sector and are likely to become an integral part of the same in the future. Looking at the current trends, more and more technical and financial professionals are looking to make a career in the fintech industry due to the exciting opportunities in this space.
The arrival of the pandemic has played an important role in accelerating innovations in the finance sector. Besides, as physical payments have taken a hit over the past couple of years, contactless payment options have emerged.
If you are intrigued by the current developments in the fintech space and looking to kickstart your in this field, you have come to the right place. In this article, we will take a look at how you can set the ball running and make a career in the fintech sector.
1. Lay a strong foundation to start a career in Fintech
While looking to start your career in Fintech, you need to build a strong foundation by understanding the theory behind it. You can do so by registering yourself for numerous online or in-person courses. These courses will help you understand the building blocks of Fintech so that you can learn and sharpen your Fintech skills and knowledge.
2. Advanced learning
Now that you have built a strong foundation around Fintech, you would want to take it to the next level. At this stage, you should consider opting for advanced courses that are available. The fintech course offered by Oxford is considered to be one of the best fintech courses available. These courses are taught by industry experts who can nurture the growth of your career in the fintech industry.
3. Sharpen your people skills
If you want to build a successful career in Fintech, you need to go above and beyond. While theory and numbers will lay the foundation for your career, you should also be able to expand your network by interacting with like-minded professionals.
You should also focus on developing your soft skills so that you can easily interact with your potential employers, coworkers, and clients.
This means that you should be able to communicate clearly and develop a sense of when to be friendly and when to be concise. Although these points are valid to build a career in any field, it is still important to not neglect them.
4. Do not take your foot off the networking pedal
Fintech is undeniably one of the fastest-moving sectors in the world. Your networking skills will help you stay on top of the most important and latest trends in the fintech sector. Besides, networking will also open up new and unexpected opportunities for you in the fintech space.
This is why you should keep an eye on new application launches, fintech conferences, and what the key personalities are saying about Fintech. This will help you keep up with the latest developments and also stay clear from the not-so-motivated career-seekers.
Play your cards right and try to collaborate with like-minded people who are looking to make a mark in the fintech industry.
5. Do not lose motivation
If you are switching careers and starting fresh in a new industry, there are times when you may lose motivation. Starting out in a new industry could be intimidating and extremely challenging.
This is where you need to keep reminding yourself why you have taken the leap of faith and switched careers. Do not stop yourself from pushing boundaries and infiltrating your comfort zone. If you want to have a successful career in Fintech, keep reminding yourself that you are here for a marathon and not a sprint. Keep pushing yourself to do better each day.
A career change is one of the most exciting times of your life, and this is why you should make the most of it.
6. Explore the career paths in the fintech industry
There are different domains within the fintech space. Some of these include artificial intelligence, blockchain, cybersecurity, and quantitative analysis among others. Study and read about these domains and choose a domain that interests you.
Interact with professionals who have switched careers and are treading on a similar path as you in their careers. Perform a SWOT analysis on the fintech industry and evaluate your choices.
There are numerous job profiles available in the fintech industry such as investment consultants, blockchain developers, project managers, and more. Some of the hottest skills in Fintech include blockchain expertise and development along with deep learning, machine learning, applied statistics, infrastructural robustness expertise, and cybersecurity.
7. Identify the top employers
Before putting your foot in the door, identify the key employers within the fintech space. The top three Fintech companies of 2021 are Kraken, Klarna, and Stripe. Besides these heavyweights, Blend, Chime, Brex, Braintree, and Varo Money are some of the other top employers in the fintech industry.
Once you shortlist these companies, try getting in touch with professionals that work there to understand what it is like to work there.
Looking at how the Fintech space has boomed over the last few years, switching to the Fintech space could be a life-changing experience. This is one of the best times to consider switching your career paths and turn to Fintech. However, keep in mind that growing and building your career in any industry takes considerable effort and time.
Having said that, if you are really considering switching your career path and starting a career in Fintech, go through all the points mentioned above.
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