Financial Technology

Financial Technology

​Money, in it's many different forms has been part of human history for over 3,000 years. Whether it's in the shape of a metal coin, a piece of paper with a historical figure on it, or a number on a computer, one thing is for sure – money is constantly evolving. The potential for innovation in finance is substantial, evidenced by the almost 6,000 financial technology start-ups currently operating in The Americas.

Given the significant number of start-ups involved in the fintech sector, it's not surprising to discover substantial growth occurring – firms raised $12.4bn in funding in 2018, a 43% increase over the previous year. That growth outpaced the 30% increase in venture investments across the entire US market (Forbes). Traditional banks, insurers and other large financial institutions are increasing their investments in fintech as well with a number integrating fintech into their existing product and service offerings, while others invest in fintech start-ups or set up their own incubators. According to a report by Business Insider, Citigroup has the biggest fintech portfolio of all the traditional banks, with 13 start-ups backed since 2011. Goldman Sachs, with ten start-ups backed, and JPMorgan Chase, with five, represent the other leaders from the traditional banking sector.

Fintech is continuing to change how consumers access and manage their banking. The American Banking Journal reports that 70% of consumers used a mobile device to manage their bank account at least once in the previous month, and 34% are using mobile devices to make a payment or transfer money. The future of this type of technology will include expansion on a global level as shared by the Association for Financial Technology - companies like Currencycloud have announced solutions that allow banks and Fintechs to provide multi-currency accounts to their business customers that allow them to collect, store, convert and pay in more than 35 currencies. Looking at this trend toward globalization, the Forbes Finance Council foresees more large banks getting back into the innovation game in the coming years. JPMorgan currently employs 50,000 technologists and Bank of America is the world’s largest blockchain patent holder. The emphasis on developing new fintech products and services will impact the talent market, with financial services firms eager to secure the industries top fintech talent. Selby Jennings has partnered with Corinium Intelligence at this AI & Emerging Tech for Finance conference to explore this topic further.

Employment in the sector will continue to grow as high usage of mobile devices and technology-based solutions will push the demand for financial and banking solutions, which can be accessed through personal devices. This is the key growth driver for the global financial technology market, making it worth approximately $305.7bn by 2023, at a CAGR of 22.17% during 2018-2023.

Financial Technology Jobs

Lead SRE/DevOps
£100001 - £160000 per annum, London

Join the leading IOT Cloud platform provider for the Digital health industry. Their HQ is in the...

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Lead SRE/DevOps
£100001 - £160000 per annum, London

Join the leading IOT Cloud platform provider for the Digital health industry. Their HQ is in the...

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Technical Lead | Investments Platform | Singapore
Negotiable, Singapore

Roles and Responsibilities: Design the overall architecture in accordance to business goals M...

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Senior Machine Learning Engineer
Negotiable, San Francisco, California

An AI and Senior Machine Learning- powered lending platform start- up in Bay Area is looking to ...

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IT Trade Support | Global Investment Bank | Frankfurt
€80000 - €100000 per annum, Frankfurt am Main, Hessen

Responsibilities Support general IT incident resolution and all the end user IT software and h...

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Lead Architect/Engineer - Unicorn Tech Firm
Negotiable, Singapore

Lead Architect/Engineer - Unicorn Tech Firm A unicorn regional technology firm seeks a lead arc...

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Data Engineer - Trading Firm
Negotiable, New York, USA

An elite NYC trading firm is seeking a Data Engineer to work within a trading team to help build...

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Senior Cloud Developer
Negotiable, New York, USA

Responsibilities: Designing and developing applications in Java. Migrating existing applicati...

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Full Stack Developer
Negotiable, New York, USA

You will be part of a team that builds low latency trading algorithms and execution strategies. ...

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