MAKING A CAREER IN THE FINTECH INDUSTRY

MAKING A CAREER IN THE FINTECH INDUSTRY Presented By: Olugbenga Rojaiye

AGENDA Getting to Know the Presenter Introduction Cyber Security and SMEs Key Cyber Security Risks for SMEs Security Tips for SMEs to Protect their Business From Cyber Threats Conclusion

GETTING TO KNOW THE PRESENTER Olugbenga Rojaiye is a cyber security professional and an Enthusiast with career experience that spans across the IT and Information security Consulting spaces. He has been instrumental in several Cyber security assessments, implementations and security presentations across multiple sectors, conferences within and outside of Nigeria. Olugbenga has been involved in the development and testing of bespoke payment software solutions with a focus on security, drafting software requirements specification and architecture.

INTRODUCTION The rate of change in financial services is rapidly increasing.In today s digital age, consumer behavior shows that people want fast and easy access to their finances preferably from a mobile device and application on a system that allows efficiency in banking, from getting loans, managing investments or tracking budgets. When it comes to fintech a blend of finance and technology start-ups have forever altered the way we make payments and transactions, take out loans (lending), insurance services, account management and invest our finances. Fortunly summarized how disruptions from fintech startups have impacted the financial ecosystem in the last few years, showing some ascertaining statistics: 85% of banks have made of digital transformation a business priority 3 out of 4 global consumers are using fintech services for money transfer 77% of financial institutions want to innovate more 60% of traditional banks would team up with fintech startups, and 82% expect these partnerships to expand within the next 5 years

WHAT IS FINTECH Fintech is primarily about using technology innovatively to improve and automate the delivery of financial services, making processes for companies, business owners and consumers easier and less cumbersome. E.g. instead of going to a bank to apply for a bank loan, you apply for it online. It is used to provide, enable and enhance financial services such as payment, wealth management, money transfer, moneylending and so on.

MERIT AND DEMERIT OF THE RISE OF FINTECH IN NIGERIA AND AFRICA 1. The financial industry itself is going through a transformation, for example, in the form of cost-cutting, digitization and efficiency 2. As one of the leading financial hubs in Africa, Nigeria has a fair enough technology infrastructure (e.g. good fibre network) while our mobile subscription penetration is on the rise key factors for fintech growth. 3. Many fintech firms seek to set up and operate in Nigeria and Africa at large, for access to its obvious emerging markets. NB: 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 technologies or want experience working with newer technologies.

WAYS FINTECH REVOLUTION IS DISRUPTING THE FINANCIAL SERVICES SECTOR Globally, Fintech growth started in trade financing, however, moving forward. Below are the strong areas of Fintech: fintech business management wealth management Automations for financial advice Investment management and/or tracking budgets Blockchain and cryptocurrencies Omni-channel customer experience Customer service chatbots Even though some people still prefer human contact for a number of processes, a digital hybrid approach seems now easily viable and most likely to become the new normal for financial services. Open innovation for new developments

IN-DEMAND FINTECH ROLES Programming / Developer Roles Blockchain Developer Cyber Security Professionals user experience (UX) Designer user interface (UI) designer digital project manager digital product manager Financial or Business Analysts Compliance (Legal) Experts Data Scientists (as fintech companies continue to focus on enhancing their offerings and capabilities, data analytics drives this process) Quantitative Analyst.

WHAT DOES IT TAKE TO TRANSITION INTO THE FINTECH INDUSTRY ? From a technology perspective, Reskill yourself and pick up on trending technologies Examples: Android or iOS development Be part of collaborative platforms in other to showcase your capabilities and learn about trending technologies If you have strong logical and critical thinking capabilities, consider moving into areas involving programming and coding as these are logic-based

ADVICE FOR THOSE ALREADY IN THE INDUSTRY AS WELL AS FOR THOSE LOOKING TO MOVE INTO FINTECH SECTOR For those already working in the fintech industry, keep upgrading and reskilling yourself. In the case of those who are keen to move into the industry, it s never too late to start. It s okay to start from scratch in this industry due to its fast-paced growth. For example, someone in their 30s in a mid-level career who wants to make a switch can start off in an entry-level role and move up fast. We expect the boom in fintech to continue, and this bodes well for current professionals especially those who keep broadening their skill sets as well new talent looking to join the industry. It s important to note that change is a constant in this industry. Fintech workers therefore have to agile and adaptable in order to effectively deal with the rapid changes in the industry. Besides relevant technical and financial skills, employees will also need analytical and critical thinking to address challenges creatively.

CONCLUSION With the vast array and deep penetration of fintech throughout the financial services sector, the potential career opportunities available are exciting for those with the prerequisite technical and non-technical skill set. With these careers being lucrative, and supply and demand still being in favor of the skilled applicant a career in financial technology is well worth pursuing

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