In 2023, Workforce Singapore (WSG) launched the first career conversion programme in our local fintech industry, together with the Singapore FinTech Association (SFA) as its’ programme partner.
Called the FinTech Talent Programme (FTP), it is aimed at re-skilling mid-career individuals to develop an industry pipeline of capabilities in key technology roles within the Fintech industry.
Mr Tan Choon Shian, then-Chief Executive of WSG, said: “As one of the fastest-growing industries, the fintech industry is well-suited to people who are passionate about technology, especially those who want to have access to and work with newer digital technologies.
“To move in tandem with the rapid changes taking place in the industry, fintech companies wanting to grow must invest in talent as their engine of transformation. As such, the FTP primes to address manpower gaps that fintech companies face and to support the future growth of the industry.”
Administered by SFA, the FTP operates under WSG’s Attach-and-Train CCP over a nine-month duration, where individuals are provided with structured training and work attachments, prior to job placement, with participating companies.
As of launch, 10 fintech companies, including NETS and YouTrip, had pledged their support. They will be tapping on this programme to onboard mid-career individuals as part of their manpower plans.
Through this programme, participants can be equipped with the fundamentals of Python programming, software testing, Scrum and quality assurance, all of which are emerging technical skills that are needed in today’s growing fintech landscape.
Participants can also learn from industry experts and get dedicated mentorship through their attachment with their host company. During this period, participants also have the opportunity to work on real projects and gain exclusive hands-on experience alongside industry experts.
Why should fintech employers look at mid-career workers looking to make a switch?
According to the 2022 SFA-Accenture FinTech Talent Report, demand for soft skills, including problem-solving and creative thinking, remains.
As such, fintech employers can boost their manpower size by hiring and training candidates who may not be a perfect fit for the role, including those making a mid-career switch, as they may possess such valuable skills and experience that employers can benefit from.
Ben Suffins, head of APAC at eFinancialCareers, believes that fintech is and will likely remain a growth sector whereby the global industry is projected to double in size over the next 5 years – in turn, will fuel the demand for people.
“Mid-careerists, therefore, will continue to be in demand, and professionals will be sourced from various sectors to meet that demand,” he shared with us.
Fintech companies are targeting the right professionals with the right skills from various sectors, including tech, banking & financial services, e-commerce, business-to-business and business-to-consumer services.
The right professionals can help fintechs expand their services, develop innovative financial solutions, enhance user experiences and also bring to the table scalable GTM strategies.
What kind of industries have roles that are suitable towards a mid-career shift to fintech?
Jobseekers or workers who have strong logical and critical thinking capabilities can consider moving into the fintech industry. Areas involving programming and coding, which are logic-based, require such talents.
There is also a trend for fintech companies looking for mid-careerists with a legal background to help support the company’s cybersecurity team.
In addition, fintech employers are also looking for people with a background in statistics, as this skillset is needed for mining data.
For example, many currently in the fintech industry have previously worked in laboratories. They are now data scientists in fintech firms, reading data and predicting current and future market trends.
Looking for a new role? Explore over 100,000 jobs available on MyCareersFuture now!
If joining a fintech start-up interests you…
You can also get more information from the Monetary Authority of Singapore (MAS’s) online Talent Pavilion, that showcases the resources and capabilities available to support individuals’ various fintech journeys. It highlights an array of events, job opportunities, and upskilling courses.
Co-sponsored by Workforce Singapore (WSG), you can partake in a variety of fintech talent-related activities such as:
- Educational workshops on useful FinTech skills, industry networking sessions at the Talent Pavilion Booth at the Singapore FinTech Festival
- Professional reskilling and upskilling courses
- Seek career support with professional career coaches and mentors
- Find institutions that provide advanced learning in the FinTech space
- Apply for grants to support career conversion and training
- Explore job and internship opportunities
This article was done in collaboration with Monetary Authority of Singapore’s FinTech & Innovation Group.
