How the Challenges of Fintech Force Financial Firms to Find New Expertise
What’s happening in fintech and how to avoid being left behind.
The financial services industry has traditionally been one of the most technology-intensive industries. But the speed of technology change, and the business developments this has fostered, has left many companies even in financial services floundering and struggling in the face of a rapidly changing landscape.
Whether you are a bank, an insurance provider, a credit card company, or payment provider, technology is driving fundamental change in your sector. Hedge funds for example are now poaching technologists from Silicon Valley. As one financial headhunter recently stated, “traders used to be first-class citizens of the financial world, but that’s not true anymore. Technologists are the priority now”. Financial companies now focus on hiring individuals with the technical and computer science skills that will enable them to create the algorithms that underlie an increasingly complex environment.
