FinTech & Financial Services key sector trends affecting talent hiring and onboarding, the top recommended background checks, and how Veremark is there for you

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Financial Hiring Trends Report of 2023

The world is slowly finding a way to emerge from the covid19 pandemic, with the adoption of new technologies, digital techniques, and operational processes having accelerated during 2020 and 2021. Such trends have put additional pressure on HR / People leaders in organisations of all sizes, as the urgent need to find, attract, hire and onboard new talent has become much more acute.

Scarce talent, to help Financial Services & FinTech businesses, may now be hiring anywhere around the world, with the added pressure to ensure the credentials of candidates are as they presented on their CV / resumé, and that the ethics of the applicant suit the business and the sector. All of which needs to be done at a distance, for practical, geographic and safety reasons. Hiring risks must be reduced in every conceivable way.

In the UK alone, there are more than 2,500 FinTech businesses, and each one is vying for the specialised skilled talent to drive growth and productivity ahead of stiff competition. You need the best people in your business, and you need the best partners to help you to onboard them as effectively and efficiently as possible.

Scaling and growing your business, with a buoyant positive employee experience and culture, is mandatory for all HR and Talent leaders and team members. An A* game is required from all people across a scale-up business. No other level of performance will be acceptable.

All of this will be with a finite amount of time available for members of HR and Talent teams, relying on greater automation and trusted services to deliver against the key people objectives and priorities for the business.

You need the best partners to help you with your hiring and onboarding. Partners who have built systems and services from the ground up, integrate with the ATS HRTech platforms, have strong security and operations, and deliver background checking for you every time across more than 180 countries globally.


Automated Screening. Effective Hiring. Trusted Service.

Click to download the FinTech & Financial Services Top Trends Infographic:


What background check do I need?

This depends on the industry and type of role you are recruiting for. To determine whether you need reference checks, identity checks, bankruptcy checks, civil background checks, credit checks for employment or any of the other background checks we offer, chat to our team of dedicated account managers.

Why should employers check the background of potential employees?

Many industries have compliance-related employment check requirements. And even if your industry doesn’t, remember that your staff have access to assets and data that must be protected. When you employ a new staff member you need to be certain that they have the best interests of your business at heart. Carrying out comprehensive background checking helps mitigate risk and ensures a safer hiring decision.

How long do background checks take?

Again, this depends on the type of checks you need. Simple identity checks can be carried out in as little as a few hours but a worldwide criminal background check for instance might take several weeks. A simple pre-employment check package takes around a week. Our account managers are specialists and can provide detailed information into which checks you need and how long they will take.

Can you do a background check online?

All Veremark checks are carried out online and digitally. This eliminates the need to collect, store and manage paper documents and information making the process faster, more efficient and ensures complete safety of candidate data and documents.

What are the benefits of a background check?

In a competitive marketplace, making the right hiring decisions is key to the success of your company. Employment background checks enables you to understand more about your candidates before making crucial decisions which can have either beneficial or catastrophic effects on your business.

What does a background check show?

Background checks not only provide useful insights into a candidate’s work history, skills and education, but they can also offer richer detail into someone’s personality and character traits. This gives you a huge advantage when considering who to hire. Background checking also ensures that candidates are legally allowed to carry out certain roles, failed criminal and credit checks could prevent them from working with vulnerable people or in a financial function.

Transform your hiring process

Request a discovery session with one of our background screening experts today.

Want to learn more?