The FinTech sector in APAC is booming. Demand for FinTech Apps – ranging from payment methods to investment platforms – accelerated this year, with over 1,230 FinTech apps available in the region, and a total of 2.7 billion app installations between Q1 2019 and Q1 2021.
As of this summer, there were 6,129 FinTech startups in APAC, joining the region’s more established FinTech organisations such as Ant Group, Stripe and Razer. Yet it’s not just FinTech businesses themselves who are developing financial technology solutions. Traditional banks, telcos, and large corporations are also looking to incorporate FinTech capabilities into their businesses, in order to enable faster payments, more secure transactions, and a more flexible, digital financial future.
Unsurprisingly, this surge in FinTech activity has, in turn, created a surge in demand for FinTech talent – and it’s creating a digital skills shortage that is impacting both digital and traditional businesses across the region. McKinsey estimates that over 90% of executives across the world are now facing a digital skills gap.
To overcome this hurdle and continue developing next-generation FinTech solutions, businesses need to find access to the talent they need. In a saturated APAC digital skills market, the answer lies in expanding their talent search from local to global.
At RPI, we’re currently working with FinTechs and businesses in APAC looking to implement digital finance solutions, to help them tap into global talent flows and find the skills they need, when they need them.
Here, we discuss two of the most in-demand FinTech skillsets in APAC right now – and why FinTechs need to access this talent to drive future growth.
Software Engineers
In an already incredibly competitive market, businesses need to have the very best software engineers worldwide in order to code something that is truly market leading. Highly-skilled software engineers are at the top of the agenda right now for FinTechs in APAC, and we anticipate that this will continue to be a key hiring trend throughout the rest of the year.
The region’s hiring market is inundated with businesses targeting this talent locally: if businesses want to find these skills in the here and now, they need to consider stretching their search to the global talent pool.
Product Managers
Trust is an ongoing issue for FinTech in APAC. While some regions have wholeheartedly embraced digital banking, payments and financial services, others are still reticent to even explore traditional banking, let alone digital. If FinTech organisations want to overcome this hesitancy, they need product managers who can guide customer experience and help both businesses and consumers to embrace the services on offer.
To thrive across APAC, FinTechs need candidates who can not only oversee the creation and release of new products but can sell those products to organisations effectively: understanding the requirements and misgivings of customers to gain their trust and make their product offering a success.
At RPI, we’ve seen a vast increase in product management hiring for customer experience purposes, as FinTechs and other digitally-focussed businesses seek to bridge the gap between technology and people. This role plays an important part in not only selling products and services but developing new ones: it’s vital that businesses are able to listen to customer demands and expectations to deliver what they really want, as opposed to what the business thinks they need.
You can find out more about RPI’s specialist approach to securing talent for these roles in APAC and beyond here.
At RPI, we specialise in giving businesses access to the talent they need, when they need it by tapping into global talent flows to find the best candidates. If you need help securing FinTech talent in APAC – or anywhere in the world – contact Michael Hodson, on LinkedIn or via email at meh@rpint.com.
