The most in-demand Fintech jobs and skills in 2023

Financial technology, also known as Fintech, is the application of technology to the delivery of financial services, goods, and solutions. It contains a broad range of activities, including digital banking and mobile payments. By utilizing technological advancements like blockchain, artificial intelligence, and machine learning, Fintech attempts to increase the usability, efficiency, and accessibility of financial services. The scope of Fintech in 2023 is huge and is ever-growing. It can be a wise decision to pursue a career in Fintech for several reasons:

• Impactful work: Fintech presents possibilities to work on cutting-edge solutions that can genuinely improve people’s lives.

• Various opportunities: A vast range of positions are covered by the fintech industry, from product managers to customer care agents to data scientists and software developers.

• Growing industry: Industry expansion is anticipated in the upcoming years for the fintech sector, which is now seeing fast growth.

• Competitive compensation: Fintech businesses frequently provide competitive remuneration packages that include salaries, bonuses, and shares.

To know more, read What is the scope of an MBA in IT and FinTech?

Importance of Fintech for finance professionals

Finance professionals need to become familiar with Fintech for several reasons:

• Maintaining a competitive edge: Fintech is revolutionizing the financial sector, and finance professionals who are not up to speed on the newest technological trends and advancements run the danger of slipping behind their rivals.

• Efficiency: Automating financial operations like accounting, invoicing, and payment processing using fintech solutions can reduce time spent on them and boost productivity.

• Cost savings: Financial professionals can save money by utilizing fintech solutions to cut down on traditional financial services’ costs, such as bank fees and transaction charges.

• Improved risk management: Financial professionals can identify and reduce possible risks, such as fraud and cybersecurity threats, with the use of fintech solutions.

• Improved customer experience: Fintech solutions can provide clients with a more individualized and user-friendly experience, which can boost customer loyalty and satisfaction.

• Improved decision-making: Fintech solutions can give financial professionals access to real-time data and analytics, which can aid in more informed decision-making.

Top Fintech jobs in 2023

Listed below are a few of the top fintech job roles for 2023:

1. Engineer in artificial intelligence and machine learning (AI/ML)

AI/ML engineers create computational models and algorithms that let computers learn from their experiences and get better over time. The average annual salary of an AI/ML Engineer can go up to ₹22.6 Lakhs.

2. Blockchain Developer

A blockchain developer builds, secures, and maintains blockchain networks and systems. According to their level of experience and competence, the average salary of a Blockchain Developer can go up to ₹19.4 Lakhs.

3. UX/UI Designer

For fintech products and services, UX/UI designers design user-friendly interfaces and experiences. The average annual salary of a UX/UI Designer can go up to ₹14.0 Lakhs.

4. Product Manager

Product managers are in charge of the creation and introduction of fresh fintech goods and services. The average annual salary of a Product Manager can go up to ₹35.0 Lakhs.

5. Data Scientists

To glean insights from huge databases, data scientists employ statistical analysis and machine learning techniques. The average annual salary of a Data Scientist can go up to ₹26.0 Lakhs.

6. Cybersecurity Analyst

Cybersecurity analysts assist fintech organizations in defending their networks, data, and systems against online dangers. The average annual salary of a Cybersecurity Analyst can go up to ₹11.6 Lakhs.

7. Quantitative Analyst

To create financial models and strategies, quantitative analysts employ sophisticated mathematical and statistical approaches. Depending on the degree of experience and competence, the average salary of a Quantitative Analyst can go up to ₹32.0 Lakhs.

Key skills required for Fintech professionals

The following are essential skills needed by fintech professionals:

• Financial literacy: Those working in the fintech industry should be well-versed in matters of finance, including financial markets, tools, and rules. They ought to be able to use this information to create and assess fintech solutions.

• Technical expertise: Those working in the fintech sector must have a solid grasp of the technology that supports their career, including blockchain, artificial intelligence, and machine learning. Also, they should be knowledgeable in programming languages like Java, Python, and C.

• Problem-solving: Fintech specialists should be skilled in recognizing and resolving complicated difficulties. They must be able to take several approaches to issues and come up with original answers to problems.

• Communication abilities: Fintech experts should be able to explain difficult technological ideas to non-technical stakeholders, such as customers, investors, and regulators. They ought to be able to function well in a group setting.

• Data analysis and modeling: Professionals in the fintech industry should be competent in data analysis, modeling, and visualization. They should be able to analyze and interpret huge datasets using programs like Excel, Tableau, and SQL.

Start your career in Fintech with an MBA in IT and Fintech from MUJ

The UGC-entitled online MBA IT and FinTech offered by Manipal University Jaipur (MUJ) is designed for professionals who desire to hold managerial roles in the information technology or financial technology industries. An MBA in IT and FinTech elective will improve your capacity to acquire the skill sets required to earn a successful position in any corporation across the financial industry.

You can also read Who can benefit from an MBA in IT and FinTech?

The platform’s user-friendly interface allows online students at MUJ to study the training modules, watch previously recorded lectures, interact with other students and instructors, and much more. The online degree programs at MUJ provide students with fantastic job growth opportunities. Students can learn at their own pace, complete their coursework according to their convenience, interact with subject matter experts, and look for opportunities to grow and greatly improve their employment prospects. 

Highlights of the course:

• The program will help learners have a broader worldview of the IT and Fintech domain.
• The course will provide learners with in-demand skills and practical knowledge and improve their strategic thinking.

• The program will also equip learners with effective technology management skills.

• Learners will also get free access to various Coursera courses to upskill themselves.

• Online Manipal also provides various placement and scholarship opportunities and easy payment options.

Conclusion

Presently, the global financial services industry is being impacted by technological advancements in the fintech sector. The fintech business, which uses cutting-edge techniques like edge computing, big data, blockchain, and artificial intelligence to enhance the effectiveness and usability of the financial services industry, includes startups, tech behemoths, and well-established financial institutions. 
Fintech can create a variety of employment opportunities for MBA graduates and usher in an exciting new phase of global financialization. You should enroll in the online MBA in IT and Fintech program offered by Manipal University Jaipur if you want to have advanced industry knowledge that will considerably improve your chances of career advancement.