FinTech will 'struggle to fill vacancies' amid 182% job growth

The global FinTech industry has experienced a 182 per cent hike in tech job growth during the first quarter of the year, but the industry might struggle to fill new vacancies.

The growth has been charted by the Robert Walters’ Global FinTech Talent Report, which highlights how the industry is one of the fastest growing sectors post-pandemic, with three times the growth of the wider market.

The top eight FinTech “mega-hubs” of the US, Japan, Spain, Australia, Singapore, the UK, China and the Netherlands account for over 90 per cent of all new jobs advertised worldwide, said the recruitment firm.

However, according to Robert Walters, the sector will face “major hurdles” this year, as an “acute” tech talent shortage around the globe threatens to “halt the FinTech growth machine”.

“The forecast for organisations working in the global FinTech market is a very positive one, however, their growth will be dependent on their ability to recruit and retain the right tech talent,” said Toby Fowlston, chief executive of Robert Walters. “As the adoption of FinTech products continues to grow at an exceptional rate, the concern is whether there is enough of the right tech talent to keep up with the growth.”

The UK is behind only the US when it comes to FinTech funding, attracting $4 billion in the past year, said the report.

Also in the UK, FinTechs are hiring “predominately” at the senior-end of the market, to “accommodate the fast-scaling nature” of the industry.

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