- Digital and mobile first: this is the era of convenience in banking, with almost everything digitised and available at the click of a button. For the industry too, it has been beneficial by reducing the cost of banking transactions, improving revenue and eliminating several intermediary processes that erstwhile led to errors. The next wave of change will be for the industry to adopt IoT and voice services, which have the potential to make the customer’s banking experience even more seamless. If you are aspiring to re-enter the banking industry today, you should be savvy with these new trends and technology, as well as tuned into what can be the future
- The rise of Fintech: everything from consumer-facing technologies like the Unified Payments Interface to back-end infrastructural technologies like Blockchain to algorithms that enable more inclusive and higher ROI-driven Retail and SMSE lending is being revolutionised by the rise of fintech companies. Even traditional finance players today have realised the importance of fintech and are embracing it to bring value to their stakeholders. This is leading to an explosion of new skilling opportunities in the space, ones that blur the boundaries between different functions - fintech quite literally is a convergence of finance and technology, and for those of you inclined towards technology, this could create a whole new career path. Check out this link as one example of how you could upskill yourself to make yourself fintech ready.
- Automation: As are all other industries, so is financial services moving towards increased automation. With AI-led customer service, and even robo-advisories, automation is going to pervade all aspects of the ecosystem. Even in the last decade or so, what used to take multiple levels of human intervention is being done today at the click of a button. Fintech additionally is creating models that outsource a large part of the data crunching and pattern recognition tasks to technology - for example what was traditionally done as ‘credit risk assessment’ has been rapidly automated by Fintech companies. However the upside to this is that people and professionals have the higher-order task of using this data to make informed and judicious decisions. That means finance professionals today need to adapt and upskill themselves to be able to work with these intelligent tools and extract the maximum value from them.
- Keep yourself in the loop by maintaining contact with your professional institute networks, by keeping an eye out for continuous education programmes and through subscribing to professional journals in your field
- Keep yourself updated on the Regulatory environment by using the sites of professional organisations such as https://www.icai.org/, http://www.mca.gov.in/, https://www.caclubindia.com/
- Skill yourself by making use of the bounty that is available to us today in the form of courses on every generic or specialised skill -
- Refresher for Generic Finance Skills like Financial Modelling & Valuation through these kinds of courses
- Learning specialized skills, such as IFRS for Accounting and Financial Services Skills such as Equity Research, Investment Banking, Fundamental Analysis, etc. through platforms such as this, this and this
- A whole host of skills from top Universities of the World through Coursera, or from Top Experts from Udemy and other such MOOCs
- Build your network and expertise by reaching out to other similarly minded people or those who can help you, by blogging or writing about your experiences, and actively seeking feedback
- Most importantly, practice your skills by investing in the stock market, tracking the economy and market trends. This is where you hit the road and build practical knowledge and credibility for yourself
- And finally, accept assignments in new areas of work, even if initially they don’t pay much or don’t pay at all - view them as routes to open up the professional world
If you are interested to explore flexible work options with FlexiBees clients, register yourself with your detailed experience, skill-sets and resume at https://jobseeker.flexibees.com/
We are not sending individual responses for registrations. If you are shortlisted for any role based on your experience, our recruitment team will get in touch with you.