Fintech start-ups are driving a financial revolution, and opening doors at the same time

Forward-thinking. Dynamic. Innovative.

Not only do we, Forsyth Barnes, associate ourselves with these words, but they also describe the nature of sectors we specialise in. It therefore seems apt to kick-start our blog with a conversation about one of the most revolutionary sectors out there: Fintech.

Accenture’s detailed study on the explosive rise of this sector places the UK as the country with the largest growth rate globally. Thanks to Accenture we now know that London accounted for 42% of Europe’s $12.2 billion investment in 2014. London can be considered a hub of technological change within the financial industry.

The result? The sector has a growing appetite for technological talent. Technological executives and engineers are now beginning to share the same table as their financial counterparts. Recruitment needs are changing in this revolutionary sector.

It is not a hidden fact that start-ups are often the driver of technological change. Within the Fintech industry, it is no different. Penny Crosman’s brilliantly informative article for the American Banker gives us further insight that financial technology is driven by start-ups. And that the financial industry is yearning for executive talent from a technological background. Crosman interviews Deutsche Bank’s technological chief Kim Hammonds. Hammonds. Her investment strategy is  intriguing:

“The financial investment is significant: In a plan called Strategy 2020 the bank issued last week, it committed to investing approximately $1.11 billion in digitization over the next three to five years; some of this will go to tech startups.”  Penny Crosman, American Banker

This intrigues us as a company when we place it in the context of the financial industry’s history. Take yourself back to the 1980s. Remind yourself of the make-up of the financial industry. Economists headed a few, dominant large banks. Fast forward to 2016 and the picture is changing. A former IT executive is now heading an investment strategy exceeding the billion-dollar mark. Start-ups are playing a pivotal role in building the technological path the financial industry will take.

Competition in the financial industry has intensified due to the rise of Fintech. The experience and talent required has diversified. An exploding sector brings opportunities. Doors have opened for IT executives and engineers in the financial industry. Perhaps thanks to the start-ups innovating the technology that is causing the boom. If you are an IT executive or engineer, the opportunities have never appeared so endless.

For start-ups and large corporations, smoothly integrating technological talent into their workforce appears essential to remain at the forefront of innovation, and therefore the sector. Forsyth Barnes believes strongly that doors are opening for many in the Fintech sector, and it is why we commit so much of our expertise to it.

Forsyth Barnes have dedicated specialists within the Financial Technology sector, and specialise within Executive recruitment.

photo credit: Money brain vs Computer brain via photopin (license)