With the Fintech sector having grown continuously year by year and its value is estimated well above 200 billion by 2021, it is no surprise that it also has become a very attractive sector to work in for graduates. Nowadays, a quarter of young graduates are more interested in working in the tech industry than in finance.
We think it’s important to highlight to young talent why the fintech industry should be seen as an opportunity to make a change in an important aspect of all our lives - money - through technology.
There has been a burst of fintechs in flourishing cities such as London, Berlin, Amsterdam and Lisbon. In the UK alone there are already more than 1,600 fintech companies, and this number will likely double by 2030.
That’s why we jumped at the opportunity to host a group of 15 City University students studying for their Masters in Journalism in partnership with Deloitte. Speaking at the event we had Fractal’s CEO and co-founder, Nicholas Heller, Sifted’s Isabel Woodford, Deloitte’s Petronella Löffler, Deloitte’s Ed Matheson, and myself.
It was great to hear so many questions from the students, share stories about the industry, and stress on the fact that working in fintech in any capacity is an attractive career opportunity for them.
Nicholas Heller spoke about Fractal and how banks have been impacted by technology and Open Banking.
Isabel Woodford highlighted how important it is to ask the right questions and investigate the proof of concept. "How much do startups rely on investment? What do you mean by profitable? What metrics do you use? How many active users do you have” All are examples of the questions Woodford likes to ask when interviewing. She also said that when reporting on complex topics such as cryptocurrency and blockchain, journalists should not be afraid to ask basic questions to their interviewees.
We have seen the fintech industry blossom over the past six years, and we love being a part of such a passionate, energetic, committed community. That’s why we were more than happy to talk to students about the positive aspects of the industry and what we have learnt in such a rapidly changing sector.