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  In just over a decade, we’ve watched the FinTech industry go from an infant niche to a vibrant ecosystem. Thanks to ground-breaking innovation and the smart application of novel technologies to areas of pressing concern in finance, FinTech has become one of the fastest-growing spaces across Nigeria’s economy. It has also emerged as an attractive career option for many professionals.
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If you’d like to get involved in the fast-changing world at the intersection of finance and tech, you’ll need to consider a range of factors that may determine your suitability for it (and your eventual success or failure in that domain). This article walks you through the key aspects you should evaluate before choosing a career in FinTech.

Passion for Finance and Technology

Before diving into the world of FinTech, it is essential to assess your interest in both finance and technology. A career in FinTech requires a deep understanding of financial concepts, as well as the ability to navigate complex technological landscapes. Consider whether you have a genuine passion for these domains and how they combine. Building a successful career in this space often requires continuous learning and staying up-to-date with the latest developments in both fields with which it’s concerned.

Skills and Education

Next, evaluate your existing skill set and educational background to determine how well they align with the requirements of the FinTech industry. This field encompasses a wide range of roles, including software development, data analysis, cybersecurity, product management, and financial consulting, among others. Find out what specific skills and knowledge you possess or need to acquire to excel in your desired area within FinTech. Pursuing relevant certifications or advanced degrees can help enhance your qualifications and increase your chances of success.

Industry Knowledge and Networking

You will want to fill in any knowledge gaps you have concerning Nigeria’s FinTech scene before committing to a career in this area. Research different FinTech companies, explore their products or services, and familiarize yourself with the latest industry trends and challenges. Networking with professionals already working in FinTech can provide valuable insights and help you gain a deeper understanding of the field. Attend industry conferences, join relevant online communities, and seek mentorship opportunities to expand your network and gain practical knowledge.
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Adaptability and Resilience

FinTech is an ever-evolving industry characterized by rapid changes and disruptions. As a FinTech professional, you must be adaptable and resilient in the face of constant technological advancements, regulatory changes, and market shifts. The ability to embrace new technologies, pivot quickly, and navigate uncertain situations is vital for long-term success in this field. You should think about whether you are comfortable with ambiguity and possess the flexibility required to thrive in a fast-paced environment.

Regulatory and Ethical Considerations

FinTech operates at the point where finance and technology meet, so regulatory compliance and ethical considerations are extra-crucial here. Familiarize yourself with the legal and regulatory frameworks governing the FinTech industry, as non-compliance can lead to severe consequences. Additionally, evaluate your personal values and ethics to ensure they align with the ethical standards expected within the industry. Consider the impact of your work on individuals and society as a whole.

Growth and Job Opportunities

Finally, you’ll want to weigh the growth prospects and job opportunities within the FinTech industry. While the sector has experienced significant expansion, it is important to research the specific subdomains or niches that interest you the most. Evaluate market demand, projected growth rates, and the availability of job opportunities in your desired area. This will help you make an informed decision and increase your chances of career progression in FinTech. When you’re deliberate about probing your options, you’ll be less likely to wind up at a dead-end job.
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Final Words

Choosing a career in FinTech can be a rewarding decision for those who are truly drawn to finance and technology. However, you should take care to examine your chances of winning at it before embarking on this professional journey. If you thoroughly evaluate the considerations we’ve referred to here, you will be on course for a successful and fulfilling career in the exciting world of FinTech. Featured Image Source: Get Smarter
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This article was first published on 12th July 2023


Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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