Fintech On the Rise: Top Fintech Careers

Careers in fintech are on the rise as the financial technology industry continues its exponential growth. Financial technology – "fintech" – is the application of technology to the financial sector, covering a wide range of applications from mobile payments to big data analysis to crowdfunding.

As fintech grows, so too does the need for skilled workers in all areas of the industry. There are a number of different types of fintech jobs, from entry-level positions to highly technical roles. Here are some of today’s most popular fintech careers:

Top Fintech Careers

Fintech is a growing industry

Artificial Intelligence (AI) & Machine Learning (ML)

Two of the most in-demand fintech careers today are those in artificial intelligence (AI) and machine learning (ML). Some people incorrectly believe the terms are interchangeable, but there are important distinctions between the two fields.

AI involves using computers to perform tasks that ordinarily require human intelligence, such as understanding natural language and recognizing patterns. ML is a subfield of AI that deals with teaching computers how to learn from data. Both AI and ML are playing an increasingly important role in fintech, as they are deployed to develop innovative solutions to complex financial problems.

Given the growing trend toward both AI and ML, professionals with expertise in either field can find plenty of opportunities in the fintech industry. Many stimulating and rewarding challenges need to be addressed in this rapidly-evolving field, from developing new ways to detect fraud to creating systems that can automatically trade stocks. Those who stay ahead of the curve in these and other related areas will be well positioned for success in this exciting, fast-moving industry.

Related article: Five Finance Jobs of the Future

Data Science and Analysis

Data science and analysis are two of the most in-demand fintech careers. As the financial sector grows increasingly complex, businesses are desperate for skillful and imaginative employees who can make sense of the data.

It is in the areas of data mining and interpretation where data scientists and analysts canthrive. Data scientists use their skills in statistics, programming, and machine learning to uncover patterns and trends in complex ranges of data. They then use this information to help businesses make better decisions.

Analysts, on the other hand, use their expertise in financial accounting to examine data and solve problems. Both data scientists and analysts play a vital role in the fintech industry, and there are plenty of career opportunities for those with the right skillset. Those looking for a challenging and rewarding career in fintech shouldconsider seriously a future in data science or analysis.

Related article: Five Fundamental Jobs of the Finance Industry

Regtech (Governance, Risk, and Compliance)

The financial sector is rapidly evolving, and new technologies are transforming businesses' operations. One of the most exciting areas of this transformation is in the field of compliance. One of the hottest trends in financial services, Regtech refers to the use of technology to automate regulatory tasks.

As businesses strive to meet ever-changing regulatory requirements, there is a growing demand for Regtech solutions. If you're looking for a career in financial technology, Regtech is an excellent area to consider.

Here are some of the top Regtech careers:

1) Regulatory Analyst Regulatory analysts help businesses understand and comply with complex regulations. They are essential in evaluating new Regtech solutions and advising companies on the technologies that will best meet their needs.

2) Regulatory Engineer: Regulatory engineers design and develop technical solutions to support compliance with regulations. They work closely with regulatory analysts and other stakeholders to ensure that products meet all relevant requirements.

3) Compliance Officer: Compliance officers ensure businesses comply with all applicable regulations. They develop and implement compliance plans, monitor compliance risks, and take corrective action when necessary.

4) Risk Manager: Risk managers help businesses identify, assess, and manage risks. They work closely with compliance officers and other stakeholders to ensure that risks are properly managed.

Robo-advisors and WealthTech

Robo-advisors are one of the most talked-about innovations in the financial world today. These digital platforms use algorithms to provide automated investment advice and are becoming increasingly popular with individual and institutional investors. If you're interested in a career in Robo-advisory, you'll need strong analytical skills and a deep understanding of financial markets.

Wealthtech is another rapidly growing area of fintech. This term refers to technologies that are designed to improve the way we manage our finances. Wealthtech applications can help us track spending, save money, and make better investment decisions. To pursue a career in wealthtech, you should be be comfortable with data and have a strong understanding of personal finance.

Blockchain and Cryptocurrencies

Put at its simplest, blockchain technology is a digital ledger that records transactions. It is secure and transparent, making it ideal for financial applications. Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions. Bitcoin, the most well-known cryptocurrency, was created in 2009.

Although volatile and immature players on the financial stage, both blockchain and cryptocurrencies have a lot of potential in the fintech world. Those with careers in these areas can expect to be in high demand as more businesses begin adopting these technologies. For those looking to get ahead in the fintech field, pursuing a career in blockchain or cryptocurrencies represents an intelligent move. Here are some of the top fintech careers in blockchain and cryptocurrencies:

1. Blockchain Developer: A blockchain developer is responsible for developing and maintaining blockchain applications. They must demonstrate a strong understanding of cryptography, math, and computer science. Crypto credit card programs are in high demand right now, and companies are always searching for talented developers.

2. Cryptocurrency Trader: A cryptocurrency trader buys and sells digital assets to make profits. They must be able to effectively manage risk and understand the complex dynamics of the cryptocurrency markets.

3. Blockchain Consultant: A blockchain consultant helps businesses evaluate and implement blockchain technology. They must have a deep understanding of the technology, its pitfalls and its applications.

4. Cryptocurrency Analyst: A cryptocurrency analyst researches and analyzes digital assets to provide investors insights. They must have strong analytical skills and be up to speed with the latest news and developments in ‘crypto’.

5. Blockchain Project Manager: A blockchain project manager is responsible for planning, directing, and coordinating all aspects of a blockchain project. Strong leadership and project management skills are essential qualities.

Cyber Security

In the financial world, security is always a top priority. Financial institutions handle large amounts of sensitive data; even a small data breach can have serious consequences. As a result, there is a growing demand for professionals with the skills and knowledge to keep data safe.

Cyber security experts – responsible for identifying vulnerabilities, implementing security measures, and responding to incidents – play a vital role in protecting financial institutions from online threats.

In many cases, they also work closely with law enforcement to investigate and prosecute cybercriminals. If you are interested in a career in fintech, consider pursuing a degree or certification in cyber security. With the proper training, you can help protect some of the world's most valuable assets.

Algorithmic Trading/HFT

Algorithmic and high-frequency trading are relatively new fields that offer many opportunities for talented, ambitious candidates. Commonly referred to as "algo trading" and "HFT," these strategies involve using computer programs to trade based on specific criteria.

Large institutional investors typically use algorithmic trading, while hedge funds and other experienced traders more often employ high-frequency trading. Both algo trading and HFT can be highly profitable, but they also come with a certain amount of risk. As a result, these careers are not for everyone. But if you have the skills and the stomach for risk, a career in algorithmic trading or high-frequency trading can exciting, nerve-wracking, and ultimately very rewarding.

Billing, Payments, and Money Transfers

With the ever-changing landscape of the financial world, there is a growing demand for innovative technologies that streamline payment processing, billing, and money transfers. If you're looking for a career in Fintech, here are three of the top positions to consider:

1. Payments Specialist: A payments specialist is responsible for developing and managing payment systems for businesses and organizations. It can include implementing new payment technologies, such as mobile payments, and overseeing the processing of transactions.

2. Billing Manager: A billing manager oversees the billing process for a company or organization. It includes the development of an invoicing system, working with vendors to set up recurring payments, and processing customer payments.

3. Money Transfer Specialist: A money transfer specialist is responsible for facilitating funds transfer between individuals and businesses. It can involve using online platforms, such as PayPal or Venmo, or working with traditional money transfer services, such as Western Union or MoneyGram.

Crowdfunding

Crowdfunding campaigns raise money for a project or venture by soliciting small contributions from many people. Startups and small businesses often use it to get off the ground, and it's a growing industry with immense potential. If you're interested in breaking into the world of Fintech, a career in crowdfunding could be the perfect fit for you. Here are just a few reasons why:

1. Crowdfunding is a booming industry: In 2015, global crowdfunding platforms raised over $34 billion, and that number is only expected to grow in the years to come. As more and more people turn to crowdfunding to finance their projects, there will be increasing demand for talented professionals who can help make their campaigns successful.

2. It's a creative field: A successful crowdfunding campaign requires more than just a great idea - it takes creativity, marketing savvy, and an ability to connect with people. You'll have a major advantage in this field if you're a creative thinker with good communication skills.

3. It's high-growth: The crowdfunding industry is still in its early stages, so ambitious professionals have plenty of opportunities to make a name for themselves. It is an ideal place to start if you want to build a career in Fintech.

Peer-to-Peer Lending (P2P)

One of the most popular fintech careers is peer-to-peer lending. Also known as P2P lending, this relatively new industry allows individuals to borrow and lend money without going through a traditional bank or other financial institution.
P2P lending platforms match borrowers with lenders, and a group of investors typically funds the loans. This model has many advantages, including lower interest rates for borrowers and higher returns for lenders.

As the industry continues to grow, there will be an increasing demand for professionals with experience in peer-to-peer lending. If you're interested in a career in Fintech, then P2P lending is worth considering. The industry is still relatively new, so there's plenty of room for growth and development.

And because P2P lending platforms are online-based, they can be operated from anywhere in the world. So if you're looking for a rewarding and challenging career that offers flexibility and international opportunity, then P2P lending could be the perfect fit.

Conclusion

These are just a few of the top Fintech careers to consider. If you're looking for a rewarding and challenging career in a rapidly-growing industry, then Fintech is the perfect place to start.

As the world of finance continues to move towards more innovative technologies, there will be an increasing demand for professionals with experience in fintech careers. The ten positions we've highlighted are just a few of the many opportunities available in this rapidly-growing industry. If you're looking for a career that offers excitement and opportunity, then consider pursuing a career in fintech.
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About the Author

Nick Patrocky is a FinTech UX/UI designer, app reviewer, software reviewer, and blogger. Nick’s worked with over 150+ clients from countries all around the globe. Nick also enjoys reviewing mobile apps, web apps, and websites.

Check out his blog if you want to know what it takes to be an app designer or a successful freelancer.