Moving from finance to fintech : What you need to know

We are living in the 21st century where things change like seasons! The financial sector has evolved rapidly over a decade (thanks to technology) software, as well as cloud-based technology, revolutionize the way the industry operates. 

Before moving ahead let us know what Fintech really is 

Basically financial technology, aka “Fintech”, is a unique combination aiming for the traditional financial methods in the delivery of financial services.

It is one of the emerging industries that promotes technology to improve activities in finance specifically. The use of smartphones for mobile banking, investing service & even for the cryptocurrency are a few examples of such technologies.

Wondering how can you shift without much effort?

Here are the few steps which you must keep in your mind:

Recognize your transferable skills

Just like any other job in the market which demands certain skills that are also transferable across multiple disciplines, moving from finance to Fintech is also similar. 

The 1st step in order to do that is to look at the skills you developed in a couple of years which are needed by Fintech firms.

 Although it might be true that coding, data analysis is like the bread & butter of Fintech, nonetheless there is still a need for more traditional skills in order to survive in this industry.

Understand thy expectations

Now since you know the skills which you can actually offer, it is crucial to analyze landscapes to see what practical prospects with them really are. 

For example, choosing between a role where you can work on a particular task all day long or working on more generalist role for business are 2 different things.

Having the skills for former won’t have any kind of shortage of jobs, except for the fact that you might be competing against some of the top programmers out there. 

On the other hand, opting for latter & also getting involved with a Fintech start-up is a great way to bring fresh insight into the business.

Know how to sell yourself

Once you get a good understanding of what your goals are & also what you can provide, you can combine them accordingly. 

Plenty of the Fintech companies would jump at the opportunity to hire a financial professional with loads of experience & qualifications, irrespective of their technical knowledge. 

Network and retrain

Whenever it comes to switching jobs or industries getting help from others is always favorable. You must have got a large network of colleagues, clients, industry friends that you’ve built up over the years, use them. Look for folks who have made a similar switch and succeeded. In case Fintech hasn’t affected your career already, it soon will. 


Moving to a new place is a tough task and requires lots of guts for it. But when you know what your destiny is and how you are going to reach there, nothing seems to feel like a hindrance.

The Second Wave vs The First Wave of Fintech

Fintech as a term described in Wikipedia is as follows, “FinTech is the new applications, processes, products, or business models in the financial services industry, composed of one or more complementary financial services and provided as an end-to-end process via the Internet.”

Financial technology is an industry in itself, offering disruptive alternatives for the delivery of financial services. Over the past years, fintech has been a magnet for investment, and it has changed the way that people and institutions transact and interact with each other. It has provided people with a valid and reliable exchange platform.

The first wave focused on fintech startups, providing new ways of doing existing things more efficiently that aimed to supplement large financial institutions. Initially, the first wave focused on Business-to-Consumer (B2C) interactions in the banking sector, in the areas of payments, banking, lending, and securities. Fintech is aimed to reshape the banking industry. Disruptive entrepreneurs use software to create radical new services so as to lure customers away from the traditional banks. The goal was to reinvent finance.

Whereas the next wave of fintech is going to bring greater collaboration and partnership between technological and institutional companies. It is going to extend its impact into other areas of the fintech industry, such as alternative investments, that did not receive much attention in the first wave.

Why do fintech companies want to collaborate with the companies that they were supposed to destroy? There are various reasons for why collaborating is a huge trend in the fintech industry. Firstly, the partnership model gives fintech companies instant access to customers and secondly, it provides them with the capital and expertise of banks.

Fidor Bank is one such bank, involved in the partnership movement. It was launched in 2009 as an online-only retail bank, offering radical options such as bitcoin banking, whereas today Fidor has almost 30 partnerships with fintech companies.

“The reason we are in the second wave is that people realized that you are not going to own the whole value chain”

– Jennifer Hansen, Saxo Bank

Small Businesses are the Next Focus of Fintech Wave

The war for fintech dominance in the consumer market is still going on, but a new battle line is emerging as they set their sights on small businesses. As of now, the fintech startups are focusing more on the consumer market, changing the way people bank, borrow, invest and pay for purchases, but they are also eyeing the small business markets.

The next wave is focused on helping small businesses manage their cash flow. It is a huge opportunity for the fintech, since many big banks are reticent to lend money to these small and risky enterprises. That presents fintech as an opportunity to fill an unmet list of needs and do it at a lower cost of customer acquisition.

In comparison to the first wave of fintech, the next wave promises to be more cooperative and collaborative, rather than disruptive of traditional ways, and more broad-reaching. As a result, it will be even more impactful and transformative than the first, and use of innovation and technology are already beginning to bear fruit.

How the revolutionary Blockchain Technology Can help Improve Infrastructure and the global economy

Panaesha Capital Pte. Ltd.High-quality infrastructure is important for economic growth. Local governments and construction companies could use blockchain technology to keep track of materials, permits, and contracts. Blockchain technology, underlying cryptocurrencies, can help improve infrastructure.

Continued economic growth means routinely reallocating resources to their highest-valued use as new opportunities arise, and this process is hindered when roads, bridges, airports, subways, and broadband are in poor shape.

Infrastructure spending, for example, by the federal government in the U.S., as a percentage of all federal spending, was 2.5% in 2017, which is about what it was in the mid-1980s. A larger portion of spending has gone to operation and maintenance rather than capital outlays, even in a mature economy like the United States.

Blockchain Technology to Increase Efficiency

Spending is useful when it’s allocated to the most beneficial projects and when it’s closely monitored to limit waste. There’s plenty of evidence that infrastructure costs are significantly high and that these higher costs are due to outdated government regulations, the bidding process, and poor oversight.

While using current spending more efficiently is important, that doesn’t preclude putting additional money to good use, especially if it’s raised properly.

Blockchain Technology and Funding

A potential funding source is crowdfunding facilitated by blockchain technology.  Blockchain technology is essentially a publicly distributed ledger that keeps track of transactions and ownership of assets, which could be digital currencies, patents or physical objects like rare art or buildings. Blockchain technology also allows ownership of physical assets to be broken up into small parts and makes it easy to keep track of all the owners.

Blockchain technology has the potential to open up all sorts of investments to the average person. For example, a new toll bridge could be funded completely or in part by individuals who then get a portion of the tolls commensurate with their investment. Today, these types of public-private partnerships, or PPPs, are not available to the average person. Highways, convention centers, stadiums, parking garages, rail projects, and other infrastructure with a potential revenue stream could be funded similarly.

Importantly, more local funders mean more people with a stake in the progress of the project, and this means more accountability for those in charge. Additionally, local governments and construction companies could use blockchain technology to keep track of materials, permits, and contracts.

Blockchain Technology and Claims

Andrew Lindsey, a market strategist for the Alpha Corporation, says that today it’s hard to know exactly who holds what and when on large infrastructure projects. He believes blockchain technology can fix this.

Lindsey believes that, when one has a very clear snapshot of all of that information, one can see what would happen to claims. Currently, claims are handled with a spreadsheet that says “X is going to arrive here within this timeframe with this level of error.” But if you have an immediate, encrypted and immutable ledger of the flow of items, one can identify exactly what is going to be where, when and one can reflect that in schedules, cost estimates, and more broadly, phase engineering.

Since the ledger would be available for all to see, the companies and officials responsible for the project wouldn’t be able to kick the blame for delays and cost-overruns back and forth while the public struggles to sort fact from fiction. Instead, those responsible for problems could be identified and held accountable.

Infrastructure is important for economic growth. Blockchain technology won’t solve all the problems, but it has the potential to make a big difference.