FinTech is the short name of Financial Technology which defines as the evolving intersection of technology and financial services. This industry is using and implementing software, which is used by financial institutions. Over recent years, it has shown tremendous growth in this sector. Moreover, many bankers, brokers, traders and enterprises are a part of this sector.
FinTech is operating in dozens of countries. These companies are running at a rapid pace by attracting millions of capital. Also, a considerable amount of financial investment is expected to produce in the future. It also provides various career prospects for applicants with skills, hard work and dedication.
According to a study, FinTech attracts £ 9.1 billion of more investment in the UK than in the US and China. Moreover, it has also produced 5.1 percent more jobs than the last year. Similarly, the London Stock Exchange has also reported that FinTech companies are expecting the growth of about 88 percent in the coming three years. Hence, this sector looks likely to dominate the UK economy in the coming years.
Following mentioned are the top roles in FinTech in UK:
Experts with the skills of blockchain development and programming are highly in demand in various business organizations of UK. One should learn about the following programming skills to become a professional blockchain developer. These are:
• Hyper ledger Fabric: It involves a corporation's blockchain framework, helps in changing the rules of business by using modularity and scalability.
• Ripple: It includes the distributed payment system, transfers and remittances.
• Solidity: Design of smart contracts on the network.
According to the freelance talent marketplace Upwork, blockchain has risen to one of the fastest-growing skills of over 5000, with year-over-year growth of more than 35,000%.
Over the past several years, the demand for FinTech apps has seen a phenomenal growth. According to recent reports, international app downloads and consumer spending has reached record levels. Furthermore, demand for mobile payment solutions and personal finance is only rising.
Millennials are also more likely to take advantage of their improved ability to secure transactions on their phones. Therefore, in future years, financial technology app developers will have a greater need to support this growing market.
It is the primary duty of a financial analyst to plan budgets against income targets. One could be an analyst for a single division or the whole business, depending on the size of the organization. Financial analysts collect financial reports and make incoming revenue forecasts along with performing business duties. Such new financial services companies need financial analysts to monitor their sales. However, they also require graduates to work with customers and analyze the data using whatever start-up or software the company has developed. Therefore, FinTech's financial analyst jobs are already in high demand as entrepreneurs continue growing.
Product managers are now required to handle the management of many FinTech products regularly. Product management works directly with cryptography, encryption, identification and security programs. The product manager designs, develop and build a blockchain network that enables reliable data protection, data control, easy integration, new profit centres development and cost reduction.
Hackers and online criminals are always attacking financial institutions in an attempt to cash in. According to research from IBM's X-Force research team, the financial services industry has been attacked more than any sector since 2016. Cybersecurity experts are therefore required to help businesses protect their assets, information and online data. FinTech firms will handle and minimize threats by cybersecurity professionals.
Companies are looking for data analysts, data scientists, chief data officers and experts to better understand their markets and clients.
Moreover, they also help to gain access to new data sets, including social media and allow new ways of understanding markets and customers.
Business development managers play a crucial role in FinTech Organizations because they help in generating more revenue. It also assists other start-ups in expanding. They are continuously searching for new opportunities, new business alliances, and new ways to expand existing markets. They also build new prospects to offer FinTech products that help to enhance business partnerships with various FinTech accounts.
It is essential to have a positive, creative and entrepreneurial identity for FinTech companies, as their employees are the best advertisements for their product. Therefore, finding an HR specialist to uphold the corporate culture is essential for FinTech businesses. Culture Champions help promote an environment where people want to work. Consequently, they are in high demand in the UK.
Above-mentioned are the top roles in FinTech in the UK that helps to enhance the industry’s progress by generating revenue and positive outcomes in the future.