Find out why so many developers are considering working in the fintech sector, and what programming skills and languages are currently most in demand.
Fintech is the meeting of finance and technology. This industry is far from new, but in recent years, it has experienced an explosion of popularity thanks to the innovative work done in the financial sector. There are many reasons why a person may want to work in fintech, but some of the most convincing reasons are as follows:
- above-average wages;
- constantly evolving technologies;
- the possibility of increasing digital/financial inclusion.
The average salary of a person working as a fintech developer is about USD 35,000, but it can be much higher depending on the company and the developer’s seniority. Those who have the skills to work in the financial sector have the opportunity to become high-income employees, especially those who are more experienced.
These higher salaries are partly explained by the demand for developers in the financial sector, as traditional financial companies are looking to modernize their systems while challenger banks and DeFi startups are trying to carve out a space in the sector.
Fintech developers are often at the forefront of technology, working with new AI and machine learning systems, big data, cloud deployments and even blockchain technology. This means that they will have to evaluate new tool chains and frameworks as they arise. Fintech developers never stop learning.
The reward for this, however, is the opportunity to pave the way for new financial options. Interpersonal lending, DeFi and other innovations offer new opportunities for people excluded from the traditional financial system. Trading platforms based on mobile applications have made the world of stocks, shares and commodities accessible to the general public. If you are a developer looking to be part of something really exciting, fintech offers opportunities for this.
Fintech developer: Languages to know
Fintech companies need developers with varied skills for front-end and back-end financial software development. Fortunately, this means that developers from other sectors should be able to find a space in fintech that suits them. Here are some useful skills:
- Python
- Scala
- Java
- C++
- SQL
- Rust
- Haskell
It is common for universities to focus on Java/JavaScript, or to teach web development in general rather than more sector-specific languages. Young graduates may have an interest in contributing to open source projects to build a file before looking for a job. This will show not only that they master the programming language in question, but also that they understand how to use other tools such as Git/SVN and that they have the general skills required to work in a larger development team.
What skills do you need to acquire?
Whether you are interested in front-end development, security or data and statistics, there are opportunities in the fintech sector. Here are some potential areas to explore for budding fintech experts:
- Blockchain
- Public cloud
- Security
- AI and machine learning
- Data science
- DevSecOps
What types of companies are looking for Fintech developers?
In many companies, it is possible to find a variety of companies that operate in the fintech area, including:
- Blockchain and De-Fi startups
- Electronic payment companies
- banks and insurance
- Investment companies
- Electronic commerce
