Are fintechs in danger because of lack of talent?



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With accelerated development, these companies can not cover the key positions they need to keep pace with rapid growth

The technology industry is always in need of new talent to carry out innovative developments. And fintechs are not left behind. With a stage of expansion and growth – which shows a 70% growth in recent years – the technological-financial sector suffers from lack of talent

In one study, it was recognized that the future could put companies at risk.

"There is a general consensus on the need to incorporate skilled people with a technological profile and financial knowledge: 63% of fintech respondents indicated that they have difficulty finding the right talent in the job market. If this scenario continues, it is expected that problem to intensify in the short term, which could affect the growth rate of fintech, "says the document presented jointly by the technical-financial company Afluenta and the consultancy Accenture.

In a note published in the Profile highlights the industry's interest in incorporating new faces to boost its development. Today, 80% say they have up to 50 employees and only 10% to more than 100. However, the vast majority (88%) expect to have increased their permanent plant by 2018.

"With regard to the issues that most concern Fintech, we separate them into three: talents, regulations and financing. With regard to talent, we find that it is one of the points fintech most values, but there is a great distance between the importance they give and quality in relation to what they find in the market, "said Diego Zorzoli, CEO of Accenture

On the other hand, Zorzoli explained that, when looking for qualified employees, financial technology companies find barriers in terms of "Availability, costs and competition with the traditional market". Exactly related to the difficulties in finding staff with adequate qualifications, one of the items that the report describes as fintech's "outstanding debt" is the gender issue.

"At Afluenta we have more than half of our staff, but it is very difficult for us and we must make an extraordinary effort to maintain this equity in our IT field due to the lack of women dedicated to systems and programming, "explained Alejandro Cosentino, CEO and founder of the company.

The study shows that in 60% of the companies in the sector there are less than 25% of women working and that only 20% of Fintech said that they have more than 50% of women in managerial positions and only 18% have at least one woman in their team founder.

The financial technology industry has a strong technological or digital base, in which it is leveraged to provide financial services. In the country the panorama of increase of operations and clients of the sector seems promising. Around 60% of the Argentine companies in the sector project a growth of more than 100% of users in the next three years, in line with the change of consumption habits and the increase of the technological and financial infrastructure.

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