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Fintech Company news South Africa

Fintech talent: What you need to know

The world runs on money and the circulation thereof. Due to significant advancements in financial technology, money is moving quicker and safer than ever before. However, the movement of money depends on employees at fintech companies, and they must make that money move to deliver convenience and security to stakeholders around the globe. These efficiencies depend on the capabilities of such employees.
Fintech talent: What you need to know

According to Finance Monthly, fintech companies face challenges in software engineering, risk and compliance, financial operations and data analytics, and sales and marketing, as these areas directly correlate to the talent employed. It is, therefore, paramount that qualified employees are recruited to mitigate risk pertaining to talent and the organisation's long-term sustainability.

Crucial roles in a competent fintech team

Software engineering

The fintech industry is highly dependent on robust technology, especially when building online service platforms to facilitate the safe circulation of money between various stakeholders.

Software engineers, therefore, play a pivotal role in creating, developing, testing, and maintaining the product while developing innovations based on the market requirements. Thus, software engineering forms the backbone for product creation and should not be overlooked in the delivery and execution of the company's strategy.

Risk and compliance

Risk and compliance employees ensure that fintechs conduct business processes according to the operating country's laws and regulations. It ensures that acceptable business practices and international standards are maintained. Therefore, a high-risk and compliance team should be well-resourced and driven by success metrics to provide a holistic risk-averse approach.

Financial operations and data analytics

While software engineers form the backbone of fintech companies, it is the operating unit that drives the company's success. According to Finance Monthly, most fintech companies allocate 13% of their talent pool to financial operations and data analytics. This is due to the notion that data drives operations optimisation by gaining insights into relevant consumer data, resulting in improved strategic decision-making and longevity for the organisation.

Sales and marketing

Sales and marketing employees are pivotal in the execution of sales strategies to ensure that business revenue streams are maximised. Their most important focus is to identify commercial opportunities, especially with existing key clients. A competent sales and marketing team should have strong visibility in the organisation's structure to ensure processes and technology enable brand awareness.

It is safe to say that the fintech market is soaring, as most financial institutions are looking to fill complex tech-related roles in a fast-paced industry. It is paramount to be mindful that having a competitive vision and bringing it to life depends on a competent team that integrates diverse skillsets to give relevant and essential output to the organisation.

It is essential to ensure that your entire organisations’ current skill set is aligned with your organisations’ lifecycle.

Hanco Minnaar is the head of research at People Power Placements, trading as Auguste Coetzer Executive Recruitment.

Contact Details: 083 779 6926

Email: moc.rezteocetsugua@ocnah

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