- Fintechs need people with experience in engineering/software, design and user experience, and sales.
- The main way fintechs recruit talent is still through personal referrals.
- But recruiters are gaining ground as a source of new talent.
Expatriate Australians are returning home to roles in the local fintech industry.
The 2018 EY FinTech Australia Census, released in Melbourne today, says many who have been in the industry since its inception talk of the increase in interest from expats.
This return of global talent brings international financial services and fintech experience back into the local market.
It also helps locals connect to influencers and business leaders in international markets, a major benefit to local fintechs seeking offshore expansion.
Most fintechs report difficulties attracting qualified or suitable talent including engineering/software expertise (77%), design and user experience (36%, up from 24% last year) and sales (33%, although down from 41% in 2017).
The census says the issue will become more pronounced as some of the comparatively newer areas of fintech, such as those underpinned by AI (artificial intelligence) and machine learning, gain momentum and grow.
“This is a challenge for all digital organisations and it will continue into the future,” says the census.
The main way fintechs recruit talent is still through referrals via founders and other employees.
However, this has been gradually decreasing over the last three years with recruitment agencies gaining ground.
“This reflects a maturing industry with a greater number of players and an expanding talent pool,” says the census.
One industry leader told the census: “Start-ups are no different to larger organisations, the culture and the team ethos are just as important, maybe more so than having the best technical skills on the planet.”
Here’s what an average fintech leader looks like in 2018, according to the census:
The census is based on an online survey of 151 fintechs across Australia and 12 qualitative interviews with fintech leaders