The COVID-19 pandemic has wreaked havoc on the global economy, leading to uncertainty and upheaval across a variety of industries, including the increasingly popular fintech sector. Many banks, lenders and fintech startups have had to lay off workers or put hiring and expansion plans on hold. But the entire fintech industry is not in distress and there are some companies who are continuing to hire, grow and evolve.
The need for fintech innovations and services has never been greater as the world changes and adapts to the new, “digital first” reality of global commerce. As people become increasingly reliant on accessing financial services online, companies are investing more and more in tech-focused innovations. This is leading to an increase in demand for fintech skills, including software developers, data scientists and analysts, product managers and other specialists who can create and execute fintech-focused products and services.
Companies who are now hiring are ones that have been able to develop and implement strategies that are resilient and able to adapt to a rapidly changing environment. These include fintech firms, such as Square and PayPal, who are actively hiring and strategically investing in technology and services that accommodate the increased demand for digital payments, cashless transactions, and other financial services. A growing number of banks are joining this digital transformation movement, with many needing to add fintech-related expertise to their teams. Credit card companies, including Mastercard and Visa, have also expanded their hiring outlook, looking to invest in new technologies, such as contactless payment solutions, and additional talent.
Additionally, other fintech areas that have been largely resilient to the impact of the pandemic, such as the lending industry, are continuing to recruit workers. Companies such as Affirm and Stash have been actively hiring for numerous roles in recent months, as these organizations pivot their strategies to meet consumer needs and mitigate the economic stress that many have faced.
The fintech industry is not in complete distress and there is a lot of opportunity for those with the right skills. If you are looking for potential career opportunities, it will pay to focus on companies who are continuing to invest in technological improvements and new products and services to assist customers and clients. Those who possess the right skills, a willingness to adapt and a drive to contribute to an industry that is set to be increasingly important in the coming years will find themselves well positioned for success.
