FinTech: Mathematicians, physicists, and engineers are in high demand

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The templates of the banks are no longer what they were. The mergers between entities and the digitalization have led to the closure of branches and staff cuts - a trend that will continue in force in 2019. The loss of jobs in banking will be accentuated in the coming months with levels of cuts higher than the years of the last major financial crisis, according to Adecco. Santander and CaixaBank have already announced their intention to carry out an ERE in their staff that totals more than 5,000 layoffs.

This cut in the template is a result of the search for efficiency to improve low profitability, the abandonment of physical offices and the commitment to online banking, where the profiles that are demanded are different. The entities seek professionals from different fields, both financial and technological, as well as entrepreneurs willing to take on the management of new services.

For Adecco, the commercial manager will be the most demanded profile in the sector throughout this year. Among the main functions of this position are the customer service, which involves the recruitment and customer loyalty and the maintenance of the portfolio, and the sale of products.

For its part, the consultant Finnovating bet on employment related to fintech. According to their estimates, this sector expects to grow in more than 4,500 employees in Spain. Currently 5,000 workers are dedicated to fintech, which means a 90% growth of its staff. In this sense, as explained by the Spanish Association of Fintech and Insurtech (AEFI), the profiles that are most demanded in the sector are engineers, software developers and experts in digital marketing, cybersecurity, big data, and financial compliance.

The development of online platforms and applications to offer more and more services and to do it in a personalized, fast and efficient way requires the incorporation of engineers and IT staff to the workforce of financial institutions. They need professionals capable of programming, who are familiar with the latest technological developments, and who are also specialists in cybersecurity.

Experts with analytical skills are also sued from the bank. Mathematicians, physicists, and similar candidates are able to move on new platforms, to analyze the infinity of data they produce and to make decisions for the improvement of commercial strategies. But the new profiles do not only focus on professionals related to numbers. Communication has also gained weight and prominence. Digital marketing is also present in online banking.

Even so, the line that divides the technological and what is not is becoming more and more diffuse. The current trend is towards the formation of multidisciplinary teams. In this way, to become an expert within the sector, it is necessary to acquire a hybrid profile. For this it is recommended and it is useful to attend courses with programs that intermingle technology, finance, and innovation.

They emphasize that the capacity for constant learning and interest in innovation and new models will be very important in all IT professions. In addition, any of these positions requires coordination with a team with different profiles. Teamwork will be, therefore, another of the most valued skills. Regarding entrepreneurs, it will be essential to know how to implement agile methodologies in order to be competitive.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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