UK FinTech Hiring Trends in 2023

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How to Identify, Interview, Background Screen, and Onboard Talent Fast

As fintech becomes more established, important and ubiquitous, the demand for talent will continue to rise.

With London being one of the top Fintech centres in the world, the UK fintech industry will continue to thrive as the funding pace reaches pre-pandemic levels. To scale rapidly, UK fintech companies must attract and retain quality skilled talent, both technical and commercial.

Even as banking and financial services companies collaborate with Fintechs, both compete for the limited talent pool available. With embedded finance, eCommerce and consumer companies are also making a foray into financial services, which will put further pressure on the limited talent pool.

UK fintech companies therefore need to broaden their talent sourcing, and hire talent from the EU and other global regions. As fintechs are part of a highly regulated industry, there is a need to ensure that candidates are properly screened and vetted before they are hired.

Fintechs can leverage the specialised, knowledgable and experienced services of the background screening and reference check platforms offered by Veremark, to ensure improved efficiency and accuracy in their hiring, and importantly to comply with UK financial regulations.

In this report, we discuss:

- UK macroeconomic / regulatory / technology trends

- Seven Emerging Tech-talent Battlegrounds

- UK FinTech hiring & talent trends in 2023

- How is Veremark helping UK FinTech businesses to hire against these key macroeconomic and FinTech sector trends?

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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.

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