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Fintech jobs are more fulfilling than banking jobs, discuss

We spend around a third of our lives at work. For those stuck in a job that doesn’t inspire them, that sounds like an awfully long time – and many are deciding enough is enough. 

In what’s been called the ‘Great Resignation’, around a quarter of UK workers are planning a job change. It’s not just a British phenomenon either, with a record 4.3m Americans quitting their job in August alone. This collective career re-evaluation is hardly surprising after such an eye-opening two years. 

People want a career with meaning and purpose. Fintech can provide both. If you’re a problem solver, fintech is one of the most innovative, dynamic, and exciting industries to work in.

How fintech fulfills you

For a time, there was a cliché that fintech was a bit less serious than traditional finance: think ping-pong tables and hoodies in the office. This is a misconception. 

Fintech is not inherently anti-establishment, but about using technology to improve the delivery of financial services. It is not a movement or revolution, but an evolution. Technology has enabled a new and different way of doing things – things that traditional banks are often unable to do themselves.

It’s this belief that we can use technology to create a better financial system that makes a career in fintech so compelling. Fintechs tap into what the author Dan Pink describes as ‘intrinsic motivation’, meaning motivation driven by a kind of internal longing. More often than not, for people who thrive in fintech, this intrinsic motivation is solving problems with technology. 

To succeed in fintech, you need to be a problem-solver; driven either by solving a particular problem you are passionate about (such as making remittances more cost-effective for families) or a love for the autonomy to spend time cracking problems and finding neat solutions. 

The best fintech companies have harnessed these motivations and created environments where people can master their problem-solving skills. This leads to high levels of motivation and productivity that, ultimately, benefit all. 

How fintech has evolved – and continues to do so

Fintech is often described as a disruptive sector, but this is another misconception. Fintech, especially when it comes to scale-ups like Currencycloud, isn’t all about moving fast and breaking things. 

The key for a successful fintech is balancing pace and dignity: pace means you have to innovate and tackle long-standing problems with fresh thinking, dignity means you understand the institutions that are already in place and recognise that rules aren’t always made to be broken (at least not in a hurry).

Financial services are heavily regulated, and one of the challenges many fintechs face is navigating this complex environment. For scale-ups, recruiting talent from traditional financial institutions can bring a deeper understanding of regulations and experience of how to operate within them.

Wanted: problem-solvers in search of purpose 

Fintech welcomes many different skillsets: from institutional bankers to creative marketers. The key is that you’re a problem-solver. If you are, then a career in fintech can offer endless challenges. While the industry has come far in remoulding the world’s financial plumbing, empowering consumers, and encouraging businesses to flourish – we still have so much more to do. The only limit is our creativity.

Richard Arundel is Chief Evangelist at London-headquartered fintech Currencycloud

Photo by Mario de Zafra on Unsplash

AUTHORRichard Arundel Insider Comment
  • Da
    26 November 2021

    This is nice but really it comes down to this: is the pay enough to justify you spending time there? Are there better options which will yield better pay for better long term prospects and more free time to do what you like?

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