How Do I Get Into FinTech?
Diving into the dynamic world of FinTech can be daunting, but with insights from eight industry experts, including a Co-Founder and a Career Coach, we’ve got you covered. From networking at FinTech industry events to participating in FinTech projects, this article offers a spectrum of strategies to kickstart your journey into financial technology.
- Network at FinTech Industry Events
- Secure FinTech Internships for Experience
- Join a FinTech Startup Team
- Target Your FinTech Audience
- Deepen Your FinTech Knowledge
- Connect With Former Crypto Pros
- Launch a Transparent FinTech Platform
- Participate in FinTech Projects
Network at FinTech Industry Events
The fintech market is rapidly growing, with a high demand for skilled professionals. Expected to reach a considerable $200 billion by 2024, one must tap into its potential for various good reasons. To get into this industry, network with fintech professionals.
Meet them at industry events like conferences, seminars, or other community events. Set reminders for events so that you can attend, meet professionals, and stay up-to-date with the latest trends.
You may also find mentors who can support you and guide you in taking the necessary steps to get into this industry. Through networking, you learn a lot about ways to step into this field.
James Owen, Co-Founder and Director, Click Intelligence
Secure FinTech Internships for Experience
To enter FinTech, seek internships or entry-level positions in FinTech companies. These are your doors to real-world challenges and career development.
Internships allow you to test your theoretical knowledge in practice and your abilities while working with the tools, technologies, and processes used in FinTech. The real-world setting also allows you to acquire new or improve existing skills, such as coding, data analytics, and financial modeling expertise, that are transferable across various FinTech subsectors.
Moreover, taking the first step by working for FinTech companies from the early days offers you the opportunity to network with individuals who can provide guidance and mentorship and potentially open doors for future opportunities.
Finally, and equally important, practical experience enriches your resume, making it more appealing and positioning you as a person engaged with the industry, understanding its nuances, and possessing some useful skills.
Nina Paczka, Community Manager, Resume Now
Join a FinTech Startup Team
One smart way to start is by rolling up your sleeves and getting hands-on experience at an early-stage startup. Focus on an intriguing slice of the market that excites you—maybe it’s blockchain, digital payments, regulatory technology, insurance innovation, or something else.
Joining a small team will immerse you in actual product development, user testing, and rapid adjustments—the gritty work and iteration behind those slick FinTech solutions you read about.
In short, pinpoint an exciting sliver of FinTech, lend your skills to build and improve something real, and see if you love bringing the future faster yourself!
Lou Reverchuk, Co-Founder and CEO, EchoGlobal
Target Your FinTech Audience
Create a FinTech solution that best meets the needs of your intended market. Not everyone will find your FinTech services valuable; thus, you need to determine who will benefit from them. For example, if you want to start a retirement savings service, older and more responsible people should be your target market.
However, you should aim for a younger market if your business concept is to create a digital wallet for wise investment and purchasing. Analyzing your FinTech startup’s ROI rate will also be aided by setting a target audience.
Adam Crossling, Marketing and New Business Director, Zenzero
Deepen Your FinTech Knowledge
Nerd out on the area you’re most interested in. On some level, every fintech company is trying to simplify transactions. Whether it’s a payment system, an investment vehicle, an accounting product—or something entirely different!—fintech companies need people with subject matter expertise to bring their products to life.
If you get to know how certain transactions or investments work, it means you’ll be speaking the same language from the get-go. For example, I had a legal background, which made it easy to break into payroll-related marketing, even though I didn’t know some of the nitty-gritty details.
Elliott Brown, Marketing Leader, Cache Financials
Connect With Former Crypto Pros
The crypto industry is currently crashing. Brilliant individuals who worked for these companies are now looking for their next big move. Get in touch with some former employees of these firms and ask them to chat over a cup of coffee, or virtually.
They’ll advise you and tell you about what companies they’re looking at as the future of FinTech. Whatever you do can be applied to their goals to help them evolve in their career, and take you along with them.
Mark Varnas, Principal SQL Server DBA and Consultant, Red9
Launch a Transparent FinTech Platform
When I started my business, after a lot of thought, I realized that there weren’t any financial comparison websites that were 100% transparent from the company’s point of view and customer feedback. So that’s exactly what I did.
I built something that was not biased and offered website visitors a chance to see for themselves, and from other users, real reviews of companies with their pros and cons, no matter if we got paid or not.
Don’t aim for perfection from the start. Begin with a minimum viable product (MVP) and gather feedback. The FinTech landscape is competitive, and user feedback is invaluable for refining your solution. Iterate based on real-world usage and market response.
This approach will help you stay responsive to user needs and market trends. Pay close attention to the market response and analyze the competitive landscape. Understand how your solution compares to existing offerings.
Johannes Larsson, Entrepreneur, Johannes Larsson
Participate in FinTech Projects
It’s important to gain practical experience, even if it’s unpaid at first.
Projects and hackathons are great ways to get your foot in the door while gaining valuable expertise. Participate in coding challenges, hackathons, or create your own FinTech projects to build a portfolio.
Be on the lookout for internships and entry-level opportunities to work at FinTech companies or in financial institutions with a strong technology focus.
Kelli Anderson, Career Coach, Texas General Insurance
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