By Raj N
Ever changing economic cycles and their structural impact on the sectors that form a part of the ecosystem have always defined the next stages of economic growth. Innovation leads to meaningful evolution of sectors and the financial sector has not been an exception to it. From the good old days where finance was only about money, the application of layers of technology has been the genesis of what we call today ‘FinTech’. Advancements in finance have happened at a faster clip, thanks to the involvement of technology in it and that is where FinTech companies have come to play a very important role.
From Banking in its most retail format to institutional transaction processing, every aspect of finance today is driven by the use of technology in it. Combine this with rapid changes in technology and what you have are flood gates of opportunities in the sector opening up. While the sector was on its own growth trajectory, thanks to the acceptance of technology at the lowest of levels through to the highest, the pandemic has thrown open a whole new set of opportunities for those looking at pursuing careers in the FinTech space.
From data mining to analysis and presentation, technology has opened up huge opportunities in the voluminous transaction processing that happens in the financial sector. The requirement of the sector runs into millions of transactions per day which makes it quintessential to have a good data analytics team in place for organisations that are into the FinTech space.
From web-based transaction processing to App-based Banking and beyond, the requirements that financial technology has today is unprecedented. Development engineering to provide for necessary backend as well as front end infrastructure to organisations is therefore a huge opportunity. From new Apps to system integration and mergers for creating synergies has a huge demand in the FinTech space today.
One of the most important aspects in the FinTech space is that of security. With personal data, and that too financial data exchanging hands, the factor about enhanced security has come to acquire importance. If you are a cyber security expert, then you are being sought by every organisation today. By and large it is one of the most lucrative opportunity in the FinTech space.
While the start-up space is not looked upon seriously by many for pursuing a career, one in FinTech is a sure way of securing your future. The opportunities across the board are many including those in alternative credit scoring, transaction delivery, peer-to-peer lending, payment gateways, digital wallets and many more.
The author is the Founder of Zaggle.