In my first post, I wrote about how we are constantly hearing buzz around the ‘war being over’ between FinTechs and banks. The case for symbiosis and coopetition over competition between the Davids and Goliaths is certainly strong; so strong that 82% of banks, insurers, and asset managers are planning on increasing FinTech partnerships over the next three years (PwC, 2017). That said, I also questioned the success of FinTech-bank partnerships in delivering true value for the bank, the start-up, and/or the customer.
There is no denying that there have been some highly successful partnerships to date. However, there is also no hiding from the fact that many of the ‘partnerships’ we hear about have been used to drive marketing and PR efforts while many have simply not delivered the intended value and have been brushed under the carpet.
Category Archives: FinTech Ecosystem
The last 18 months has seen a diffusion of FinTech away from the core hubs in London and California. More countries and cities are vying for the opportunity to build up and further develop eco-systems that foster and promote FinTech.
Below you find an article about Fintech Ecosystems and the use and abuse of vegetational concepts. It can take some seconds to load as it has interactive charts in it.
FinTech has not only topped the buzzword list for at least the last three years but has also attracted huge levels of investment (peaking at US$19BN in 2015) from both Venture Capital funds and corporates. Over the course of 2017 however, levels of investment in the sector have slowed and, in some geographies, decreased by as much as 22% (Q1 2017 vs. Q1 2016).
Going beyond the buzz word
If you consume financial news, chances are you have heard the term “FinTech” (a lot). There is no doubt; FinTech is a buzzword. Just three short years ago circa 2014, there was very limited discussion around the topic. Now, it is regularly splashed across mainstream media headlines. One need not look far for evidence as a simple search in Google Analytics reveals the mounting FinTech tsunami.
Lidia Zabala (Head of Marketing at the Swiss Finance + Technology Association) speaks in this interview with John Hucker, CFA (President at the Swiss Finance + Technology Association) and Robert Cierny (Jobs lead at the Swiss Finance + Technology Association) about Fintech Careers and the main job trends in this field.
The FinTech sector has grabbed attention, but what does that mean for those with banking experience?
Blog FinTech Careers: Recruitment & Selection
Summary
Our first FinTech Careers Event is over and has lead to a lot of positive feedback. An audience with over 50 people had the chance to hear about the current situation of FinTech hirings in Switzerland. The rare chance to hear from all perspectives (headhunter, corporate HR & startup) about the trends and how to apply as a candidate to each one of them, was interesting and eye-opening. Clearly, the labor market for FinTech is growing in Switzerland and many new positions are being created. Based on open vacations, Zurich seems the place to be, if you want to work in Swiss FinTech. IT/data experts are currently most sought-after. Additionally, higher ratios of men working in the industry than women, can add bonus points to female candidates. Diversity is not for marketing purposes only but necessary for an efficient working environment.
Another thing that was strongly pointed out by all the speakers, was the legal issue. Before you apply anywhere for a job in Switzerland, you should be aware of the legal restrictions for non-Swiss citizens. Inform yourself on this website about the various working permits and don’t forget to send a copy of your permit/passport with the application.
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The “Startup Weekend Zurich” is designed for individuals looking for a possibility to validate their ideas, meet like-minded people, and dive into the world of startups. The Swiss Finance + Technology Association supported this year’s startup weekend focused on FinTech and it was a great experience.
Machine translation might not be the classical example one comes up with when thinking about FinTech. However, software using recent technological developments to increase the speed and the quality in interpreting text and financial reports is yet another component showcasing the current advances in the financial sector.
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5 investors and 5 startups took to the stage to pitch in front of a fully booked room at Technopark Zurich. In the end it was Nicolas Brand from Lakestar who was selected as the best investor pitch, whereas NetGuardians took the spot as the top startup pitch. This though was only the tip of the iceberg at the most unique pitching event in Switzerland this fall.
Insights
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