If you’re interested in advancing your finance career, choosing a career path in finance and technology is one of your best options. Financial technology, best known as Fintech, is an innovative approach to using technology to improve and automate the use and delivery of financial services. Companies and consumers generally utilize Fintech to manage their financial operations and personal lives much more efficiently while taking advantage of specialized algorithms and software.
With technology evolving so rapidly, it’s no wonder that finance applications also need to evolve. With Fintech, you can leverage new technology to create new and better financial services for your consumer and business.
So, if you’re wondering if a career in Fintech could help you advance your career goals, then there is only one solid answer: YES. To help you decide on which specific career options you should look into, here are the five best career paths for Fintech.
1. Blockchain Developer
Since 2008, blockchain development has been a rapidly growing industry. Companies worldwide seek blockchain developers to implement new essential procedures, advance their current systems, and ensure they are ahead in the Fintech industry.
Blockchain applications are continuously transforming the world of tech, finances, and even labor rights. As a blockchain developer, your primary responsibilities revolve around handling the entire lifecycle of a blockchain application. This means you will be in charge of overseeing the research process on top of executing the application. On top of that, blockchain developers also need to create the system’s overall architecture, design smart contracts, and optimize protocols involved in the blockchain technology. If you decide to pursue this route, you’ll need to keep learning new blockchain skills along the way so you can resolve all the potential challenges that could occur.
2. Apps Developer
With the increasing demand for mobile payment solutions and personal financial services, the global Fintech app downloads and consumer spending have also increased. Due to these record numbers, the Fintech app market also experienced unprecedented growth, especially over the last few years when the pandemic gave the industry another boost.
Fintech app developers are software engineers whose skills are highly specialized for developing applications related to finance and technology. Generally, their primary responsibilities are creating financial applications for different platforms such as computers and mobile phones. They also test and program these apps to ensure their functionality and efficiency across all relevant aspects.
To become an app developer, you must have theoretical and practical knowledge of different coding languages. Most of the time, you’ll need to work with a team of data scientists, other software experts, and graphic designers to create applications. Before launching the product, you’ll also need to test and fix any potential bugs you could find.
3. Financial Analyst
If your strengths lie on the financial side of the Fintech spectrum, then consider a career path as a financial analyst. You’ll be responsible for managing budgets while considering income forecasts. Of course, depending on the firm’s size, you can be an analyst for one division or the entire company. On top of that, you’ll have to prepare financial reports and assemble forecasts to evaluate the company’s ROI and design market research and business studies.
With all the new financial services being offered globally, companies need even more financial analysts to manage their capital and investments. There is also a need for more recent graduates to supplement the workforce, especially in terms of analyzing client data using the tools or whatever startups built by the company.
4. Product Manager
As new Fintech products are being developed, the demand for product managers is also increasing. Companies now continuously need people to manage oversight for these newly developed products, especially ones related to blockchain startups and Fintech apps and services. As a product manager, you’ll be in charge of designing and developing blockchain networks for more robust data security and data control while ensuring easy integration, cost reduction, and new profit centers.
If you’re planning to shift to a career as a product manager, you’ll need to upgrade your skills in Agile and Scrum and try to gain at least three years of experience in technical product management.
5. Compliance Expert
Of course, as more and more Fintech products and services are being developed, the demand for regulations and compliance also increases. Companies and business owners worldwide need more compliance experts, officers, and analysts on their teams to ensure that they follow updated protocols and regulations.
Compliance experts ensure that a company implements updated compliance protocols, such as the Anti-Money Laundering (AML) compliance process or Know Your Customer (KYC) compliance.
It’s never too late to start a career in Fintech. So, if you want to prepare yourself to shift to a lucrative Fintech profession, upgrading your skills with the help of Diplomas and Certificate programs could be one of your stepping stones into this fast-growing industry.
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