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How to Pivot From Traditional Finance to Fintech

The fintech industry has been rising for more than a decade.  While few reputable financial experts anticipate the imminent end of traditional finance, many finance professionals are looking to make career moves into fintech to capitalize on its growth. Fortunately, the transition from traditional finance to fintech is a relatively straightforward one that should bring outstanding career success. Here is a step-by-step guide to pivoting into fintech from a traditional finance position.

Determine Fintech Career Goals

Setting realistic career goals is the key to achieving career success. You might spend some time researching roles within the fintech industry to better understand what positions are available to a person of your knowledge, ability and experience. Having a clear career goal in mind will make it easier for you to apply for positions that suit your interests and skills; this will help improve your decision-making as you advance through fintech in the future. If you are struggling to understand different fintech roles, you might try to connect with a fintech professional for more guidance.

Identify Which Finance Skills Can Transfer

There is a large amount of overlap between knowledge and skills used in finance and those used in fintech — but not all of your prior experience will be valuable in this new industry. During your career goals research, you should consider how you might adapt your current abilities to the responsibilities of potential fintech positions. For example, many finance professionals are adept at manipulating data to acquire insights, which is an incredibly useful skill in the tech field. You might also be able to utilize your familiarity with regulatory compliance, which fintech firms seem to struggle with. Once you have a good sense of the skills that will be valuable in your new career path, you should spend some time reviewing and updating your application materials to highlight your proficiencies.

Consider Filling Skill Gaps With Education

Any career pivot will reveal gaps in your knowledge and skill that would likely be best to fill before starting in a new role. Fortunately, you can enroll in online fintech courses taught by some of the world’s leading experts in the field. While you could gain some insights about the industry through free sources like podcasts and blogs, formal education ensures that you are learning the most accurate information that is most likely to provide career benefits. What’s more, education equips you with credentials you can use during the application process to demonstrate your preparedness for a fintech career. If you anticipate launching a startup as a fintech entrepreneur, you might enroll in other courses that could boost your effectiveness in the field, such as a venture capital course that provides comprehensive information about capital funding and investment.

Define Professional Value Proposition

A value proposition is a marketing term that refers to a concise statement of benefits. Most often, value propositions are applied to products or services a client or customer might receive, but during the job hunt, you become that product or service, and prospective employers are the potential customers you must attract. You should consider the ways in which your experience in the finance industry might make you an advantageous hire in fintech. For example, you might market yourself as a “multidimensional” candidate with diverse skills and qualifications that can synergize with more straightforward fintech workers. If you can spin your unique employment history into a boon, you will find this career pivot easy to achieve with success.

Find a Few Potential Fintech Employers

Fintech employers come in all shapes and sizes. Some fintech firms are large corporations with hundreds or thousands of employees; others are startups with an entrepreneur working from their basement. Before you begin your job search in earnest, you might spend some time considering what kind of employment experience you want and need at the beginning of your fintech career. Then, you should research a few potential fintech employers to watch for job openings, or you can contact those employers to inquire about the possibility of securing a position today.

Draw Upon Support From Personal and Professional Networks

The fintech industry is growing annually by more than 26 percent, and there are plenty of available positions for eager professionals — but open roles are not always easy to find. To ensure you hear about fintech jobs first, you should tap into the power of your network. Both personal and professional contacts may be able to connect you with fintech career opportunities before they become public, which will give you extra time to research and form relationships with potential employers.

Pivoting from finance to fintech is a smart move, especially if you feel passionate about the use of technology in financial services. With some research and preparation, you should be able to make the transition from a finance professional to a fintech professional with ease.

The post <strong>How to Pivot From Traditional Finance to Fintech</strong> appeared first on Startup Opinions.

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