Veremark Logo

Get your copy of

Fintech Success: Level Up your Hiring and Screening Strategy – Free Whitepaper Download - Hiring Guide Report 2023

Fintech innovation is driven by developers, data scientists, product managers and other tech talent working behind the scenes to create the future of banking and financial services. A major challenge in the fintech industry is that companies must compete with native technology organizations, not to mention more traditional banking and financial services firms, for a limited pool of qualified talent. A prime example of that struggle to find talent comes from Financial Services corporation Capital One who had more technology job postings than IT companies did in June 2022, even more than the likes of Amazon. These new job postings were in addition to the 3,000 software engineers that the company had already hired the previous year.

According to a recent global fintech talent report, the most sought after professions within the sector are product development and management roles, closely followed by specialist and technical roles such as software engineers. It is also worth noting that high demand, coupled with the low supply, of technology talent has limited the average tenure of developers within fintech companies - which now ranges from just 18 months to two years, with senior talent averaging around three years.

In a talent-starved market with more jobs than available professionals, companies must creatively leverage all available avenues to ensure their talent requirements are met on time. The on-going issue has spurred the development of several initiatives designed to attract talent. One example is the Fintech Career Accelerator Scheme ("FCAS") launched by the Hong Kong Monetary Authority (HKMA) as a talent development program. But the staffing challenges in fintech are not only about sourcing and hiring the right talent but also ensuring fast onboarding. This is critical as the best candidates are often off the market in 10 days. As finance is a regulated industry, employers must balance speed to hire with ensuring the quality and credentials of their candidates. This means a reliable employment screening and background check process is essential.

In this report, we discuss:

- How is Fintech recruitment evolving?

- Why is background screening essential within Fintech?

- What are the key checks for fintech?

- How can Veremark help FinTech organizations?

Automated Screening. Safer Hiring. Trusted Service.