FinTech, short for financial technology, exemplifies the tech boom taking over the financial industry. But don’t think that means it’s one-dimensional. It’s made up of many specialities: insurance, payments, currencies, cybersecurity, and encryption, for example, often overlapping one another.
So, what’s the best way to break into FinTech? Check out our top FinTech commandments below.
How to Break Into the FinTech Industry
Exploring and going beyond your area of expertise is the best way to think outside the box and expand your thought process.
- Do not focus solely on London and New York City.
These cities are only the beginning! Berlin, Toronto, and Sydney are also fintech hotspots, with Africa being one of the epicentres of the mobile payment revolution.
- Don’t fall into the startups vs big banks cliche.
New startups aren’t the only ones disrupting traditional financial services. Longstanding, well-known institutions have had their share of innovation as well.
- Don’t get overexcited about blockchain.
Blockchain technologies, despite their high potential, are still in their infancy. There’s still a lot to be explored.
- Closely monitor regulations.
The speed of innovation can be slowed down dramatically without the benediction of governments and associated entities.
- Curate FinTech content on a daily basis.
Don’t be hesitant to share your ideas and commentaries with the community if you happen to have editorial skills.
- Always follow experts/influencers.
Chris Skinner, Duena Blomstrom, Don Tapscott, and JP Nicols are great, to name a few.
- Don’t start a FinTech company just because.
If your head (or your heart) isn’t really in it, don’t waste your time. The FinTech industry is booming right now, but that doesn’t mean you should get into it if it’s not something you’re really passionate about.
- Take the time to connect with other FinTechers.
Meetup groups, LinkedIn, Twitter, and conferences are great a great way to do this!
Don’t let money come in the way of your career. With plenty of college loan options available, you are no longer required to compromise on your career choice.