94% of Fintech Firms in Singapore Are Looking for Skilled Fintech Professionals

Most, or 94%, of the financial services firms based in Singapore are looking for skilled Fintech professionals, according to survey data from local jobs and recruitment site Michael Page Singapore.

Nilay Khandelwal, managing director at Michael Page Singapore, noted:

“With the Fintech landscape in Singapore booming, we face the talent challenge of a shortage in professional Fintech talent, especially for roles in AI, machine learning, data science UI/UX and digital transformation,”

Khandelwal, a mechanical engineering graduate from National University of Singapore, also mentioned that companies must be able to attract and upskill new talent in the nation’s tight labor market. 

He added that Singapore should nurture and produce highly skilled industry-ready talent through quality educational programs, in order to ensure that the country has the human resources it needs to continue to expand its Fintech economy.

Singapore-based consumers are increasingly adopting Fintech products and services. The number of people using Fintech-related services has tripled in the past two years, from 23% in 2017 to 67% in 2019, according to data from Michael Page.

The survey also revealed that Singapore’s workers and employers believe that the talent supply is a key factor in ensuring Fintech’s long-term success in the country.

Approximately 38% of survey respondents said the most important factors supporting the ongoing development of Fintech is quality of talent and 25% said market demand was crucial when it comes to creating an advanced Fintech industry.

Around 39% of those responding to the Michael Page survey said robotics and artificial intelligence are among the most important technological developments to impact the growth of Singapore’s Fintech sector. Approximately 19% of survey respondents said Big Data would play a key role in supporting the Fintech economy.

The report suggested that the future of Fintech in Singapore looks bright, with 94% of financial technology firms seeing Fintech as having a positive effect on the nation’s $323 billion economy.



Sponsored Links by DQ Promote