FinTech is a mixed term that refers to technological advancements that help streamline traditional financial processes with more agile digital processes. As you may have noticed, traditional finance has stalled, but the new FinTech boom is now taking hold. This rapid expansion of the FinTech sector is made possible by young founders who are more liberal-minded than their traditional counterparts. To compete effectively with FinTech startups, traditional companies need to change their way of thinking and structure their institutions to encourage innovation.
You have probably encountered FinTech services as a customer of a bank or mobile banking platform. These companies range from banks to insurance companies who recognize that technology is more than just supporting infrastructure. To stay competitive and on the cutting edge of change, finance organizations are spending more than ever to attract tech-savvy graduates with an interest in finance.
Enrolling in the right FinTech program can provide you with a better understanding and advanced knowledge of the FinTech ecosystem and industry insights, helping you break into the FinTech industry. Below are some entry-level remote jobs that can help jump-start your career in the FinTech industry:
1. Blockchain Developer
Blockchain technology is taking center stage as fintech companies continue to look for ways to stay competitive by reducing digital transaction fees. Blockchain and smart contract technologies have the potential to dramatically increase user privacy while reducing corresponding enforcement costs. Financial institutions are looking to replace their existing financial market infrastructures with blockchain to improve the efficiency of settlement, clearing and transaction management.
You will need strong practical technical skills to play a role in blockchain and smart contract engineering. For example, you would be responsible for the development, deployment and management of new EVM blockchains. You may also be responsible for developing and deploying smart contract solutions on already existing blockchain infrastructures such as Ethereum and Polkadot.
2. Expert in Artificial Intelligence
Artificial Intelligence plays a vital role in helping FinTech companies automate routine procedures and dramatically improve outcomes that would be impossible for human intelligence. This ultimately leads to increased efficiency and therefore higher profits. As an expert in artificial intelligence, you will help FinTech companies automate daily tasks, prevent fraud, identify threats and improve overall quality of service.
3. Data scientist
As a data scientist at a FinTech company, you should expect to use machine learning, statistical models, and visualization techniques to help model complex analytical challenges and uncover insights to identify new opportunities. You will work closely with financial analysts, data engineers, and machine learning experts to build basic data models and research new algorithms to improve financial forecasting. Not only will you work with business leaders to solve business problems using a scientific approach, but you will also work with software engineers to test new algorithms and data models.
Although some employers may require you to have a technology-related degree to qualify for a FinTech role, this is not always the case. For example, if you have learned some programming languages and can easily prove your skills, you are good to go. Even if you have little knowledge of finance, your ability to keep learning and adding new skills to your resume will be important, as most FinTech companies will give you additional training once you land the job.