The financial technology industry has paved the way for businesses and people seeking to find a career in their respective fields.
With constant FinTech app development services and demand rising, 2024 will be seen as a new conventional banking system stream to deliver top-quality convenience to its customers.
Whether you are in search of a FinTech development company in the United Kingdom or a developer planning to make their career in the finance industry, this blog post will guide you thoroughly with the definition, steps, career opportunities, and FinTech app development companies.
So, keep reading ahead to capture all the necessary information you need to establish yourself in the changing landscape of financial technology innovations.
What is FinTech?
Experts prevailing from the Finance group call FinTech a Financial technology solution. It’s an advanced solution for software, algorithms, and applications for website and mobile app development tools.
The idea behind the FinTech concept was to remove the hassle and bustle of customers visiting banks in person while getting all their requirements from one place. This saved time and resources as well.
In a nutshell, FinTech solutions use hardware like VR (Virtual Reality) trading platforms to help people in need to deposit checks, transfer money anytime and anywhere, pay bills such as electricity, mobile, gas cylinders, etc, or simply invest better in stock market, trading centers, and cryptocurrencies.
Now Who are FinTech Companies? Let’s know them in detail below!
What is a FinTech Company?
Companies that service financial development solutions via web and mobile app development services are considered FinTech companies.
These app development companies in the UK give businesses a competitive advantage such as creating banking apps, or digital asset management apps, etc. Software development companies in the UK employ internet or cloud computing services to add features, analytical tools, or other services seamlessly.
Did you know? London is the Heart of the FinTech Market and involves the highest level of FinTech development companies that attract huge investments from firms.
Let’s discuss the career opportunities you may avail from financial services and which FinTech jobs you can pursue.
FinTech Career Eligibility in 2024
Financial technology services have changed the way we delve into banking systems. As of May 31st, 2022, Statista records the employment size of the FinTech industry at 76.5 thousand in 2017 and is expected to grow to 105.5 thousand in 2030.
In fact, Financial services are one of the highest-paying jobs in the UK.
But who can work in FinTech and which FinTech development jobs are available in the UK? Let’s find out!
If you’re a proficient Fintech specialist, you may choose to work for a conventional financial institution like a reputable bank (like Lloyds or Barclays). As an alternative, you may work for a digital bank and compete with the conventional banking industry.
Fintech occupations extend beyond banking to include positions at large IT companies, digital start-ups (often called “Fintechs”), and developing industries like blockchain and cyber security. It should be mentioned that large tech companies offer financial goods and services as a minor add-on to their core offerings, whereas Fintech startups are solely focused on using technology for financial products and services.
The following are a few of the top Fintech job paths:
- Expert in data
- Analyst of numbers
- Blockchain development solutions
- Expert in cyber security
- Risk and compliance specialist
- App creator
- Machine learning analyst/engineer
- AI programmer
Proficient supervisors with knowledge of Fintech, including strategists, consultants, and leaders, stand to gain from a selection of the highest-paying roles. The highest paying positions in the UK are probably those like director, vice president, or similar.
Let’s learn more about the top 10 career paths in the UK that will open up new opportunities across the UK and other countries.
Top 10 Careers In FinTech Industries 2024
Management roles will also be attainable with a master’s degree in Fintech and some work experience.
Graduates in FinTech Management are well-suited for the Finextra-outlined Fintech occupations below, which have significant development potential in the future:
1. Compliance officer:
With the tightening and complexity of Fintech regulations, there is an increased demand than ever for risk and compliance specialists with knowledge of data security, best practices, and financial legislation.
2. FinTech product manager:
A crucial role in creating and carrying out product roadmaps in conjunction with tech teams to satisfy client demands and set deadlines is that of the FinTech product manager. Visit the PwC website to find out more.
3. Data analysis and science
In the current day, collecting and analyzing data has become essential for business. In the Fintech industry, data analysis often concentrates on online transaction data, including trades, purchases, transfers, payments, and more, in order to extract insightful insights about customer behavior.
4. Artificial Intelligence and Machine Learning
Working with algorithms and rule-based systems, you will be able to construct artificial intelligence inside this Fintech specialization. The possibilities—as well as the risks—that these algorithms present are practically limitless, as we get closer to building artificial intelligence. This field is strongly related to data analytics.
5. Financial advising and wealth management
While customers still receive investment ideas from traditional wealth management and financial advising services, the process is now more efficient thanks to the use of cutting-edge technologies.
Through the use of data analytics and round-the-clock account access, “WealthTech” offers professional advisers lucrative professions and simple wealth management for consumers.
6. Compliance, risk, and governance
“RegTech,” or the use of technology in Fintech regulation, is a specialized field that uses cutting-edge tech solutions to streamline the compliance process.
7. Online safety
For modern enterprises, combating the enormous danger of cybercrime is a formidable task that must be done in order to preserve reputation and safeguard important data streams. The field of cyber security is expanding rapidly as it helps organizations identify solutions and reduce the likelihood of a data breach.
8. Cryptocurrency and blockchain
Blockchain, a fundamental technology that is revolutionizing the way data and transactional information are maintained, including for cryptocurrency transactions, is the buzz of the financial world. It is certain that technology will be widely used for tasks like contract, record, and payment administration.
9. High-frequency trading, also known as algorithmic trading
The trading floor has been overtaken by algorithms that can handle millions of transactions per second; these algorithms represent the financial industry’s future. Although computers do the majority of the work, these automated platforms need to be shaped, managed, and optimized by specialized traders who possess programming abilities. This field is strongly related to data analytics.
10. FinTech app development services
As more time is spent online, app development is becoming a huge industry for both existing businesses and fresh start-ups. It is modernizing a wide range of services, including banking, entertainment, shopping, and more. Strong apps in the Fintech space can draw in and keep users, but they need to be developed by experienced app developers in order to be a reality.
To know each of the career opportunities in the Financial Technology industry, prospects must thoroughly understand each concept individually. Depending upon their personal preferences and growth scale, choose the right FinTech Careers in the UK.
Now, that you are already employed and looking for a switch to the best FinTech app development company in the UK, we also have a list prepared for you!
Explore them below!
Top FinTech App Development Companies in the UK
Quick advice: If you are new in the financial industry and want to learn and grow, getting yourself employed in a Startup firm will be a great choice. However, if you are an experienced fellow, here we have the best FinTech app development industry leaders.
1. DianApps
The no 1 app development company for FinTech careers or business opportunities is DianApps. The company is a 2017 incepted globally recognized firm and has worked with top banking and financial businesses to offer high-quality and secure mobile and web apps.
From having a keen understanding of Blockchain development solutions and expert groups to giving each of its employees great career opportunities, DianApps is one of the best companies in the UK.
DianApps provides high-standard security protocols and serves each of its clients with round-the-clock Financial development advice and development solutions.
For more unified information, our best advice is to consult their FinTech app developers or visit them at www.dianapps.com
2. Revolut:
Revolut, founded in 2015, has disrupted traditional banking with its mobile app. Offering a range of services from currency exchange to investments, Revolut fosters a dynamic work environment. Career opportunities span technology, finance, marketing, and customer support.
3. Monzo:
Monzo, established in 2015, has become a household name with its user-friendly digital banking platform. Careers at Monzo encompass product development, data analysis, and customer service, reflecting the company’s commitment to innovation.
4. TransferWise (Wise):
Wise, formerly TransferWise, is renowned for low-cost international money transfers. Founded in 2011, Wise attracts talent in finance, compliance, engineering, and marketing, promoting a culture of continuous learning.
5. Adyen:
Adyen, a global payments company founded in 2006, facilitates seamless transactions for businesses worldwide. The company offers diverse career paths in sales, engineering, and product management, emphasizing innovation.
6. OakNorth:
OakNorth, founded in 2015, specializes in providing loans to small and medium-sized enterprises. Career paths include credit analysis, risk management, and software development, reflecting a dynamic and entrepreneurial spirit.
7. Checkout.com:
Checkout.com, established in 2012, is a payment processing company enabling global online payments. The company values diversity and offers opportunities in data science, software engineering, finance, and customer success.
8. Starling Bank:
Starling Bank, a digital bank founded in 2014, is known for its mobile banking app and innovative financial products. Career opportunities span cybersecurity, product management, marketing, and customer support.
9. Funding Circle:
Funding Circle, founded in 2010, is a peer-to-peer lending platform connecting small businesses with investors. The company offers positions in risk analysis, marketing, and software engineering, emphasizing support for small businesses.
10. Atom Bank:
Atom Bank, established in 2014, is a digital-only bank offering a range of services through its mobile app. Career opportunities encompass software development, finance, marketing, and customer service in a creative and collaborative work culture.
Conclusion: FinTech is the Future
It is agreed by experts and accepted by businesses that FinTech companies and careers in the UK and other countries look promising in 2024 and beyond.
Picking finance as a career or growing business with FinTech app development services, the industry will never fail irrespective of the constant changes emerging in the technology landscape.
So scale your future with FinTech development today! Hire a mobile app development company in the UK or Go to their career site to find an opportunity to diversify your skill today!
