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The Rise of Digital-Only Disrupters in Fintech

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The Rise of Digital-Only Disrupters in Fintech

The world of fintech isn’t short on ambitious disrupters, nor is it a stranger to tackling highly competitive challenges on a regular basis.

Digital-only disrupters are poised to break the mould of a highly regulated banking industry, and in many ways, they’ve been doing so for a while.

As the level of consumer trust in fintech products increases, traditional banks are under more pressure than ever to embrace their benefits or get stuck with an ‘us and them’ mentality, one that ultimately costs them and their customers.

For those looking to pilot their organisations towards future success in the financial sector, now might be the ideal time to take the leap into the possibilities of fintech.

The world stands at the precipice of drastic change, and digital disrupters might have a large part to play in tipping the balance.

Outgrowing the Competition

Even just a few years ago, many digital banks were nothing but a whisper on the wind. Flash forward to 2022, and offerings like Monzo, Starling, and Revolut are household names that many people swear by.

According to a survey from Finder, 27% of British adults have opened a digital-only bank account, and if the evolution of innovative new tech is anything to go by, this number looks likely to increase substantially.

It’s not just the opening of bank accounts that’s affected – decentralised banking and blockchain tech is out in full force, and it’s responsible for changing the way people invest, borrow, lend, expedite transfers, communicate, and secure their money.

Fintech promises convenience, and in a world with a digital predisposition, this will always be appealing. The ability to provide the public with all the banking freedom they would ever need at their fingertips is a strong position to be in. What does this mean for the status quo?

Disrupter or Invaluable Ally?

Big data processing and digital solutions reign supreme in today’s business landscape, and it’s left many banks with a desire to partner with the fintech players, rather than be forced to lose their customers.

The security and regulatory compliance of bank, combined with the seamless user experience of a digital fintech solution, can make for an enticing value proposition.

Whether it’s down to a fear of being overtaken by new-age competition, or a desire to make the move away from legacy systems, 80% of UK banks claimed that investing in new technology is a top priority in 2022.

Fintech could prove to be an incredibly valuable ally in the race to build a smoother, less complicated and more secure banking experience for the modern consumer, and for those looking to get a head start, finding the talent that can build the fintech systems of tomorrow is a must.

Finding the Right People

Finding the top tech talent is tough enough in a red-hot job market, but when you’re on the verge of making major organisational changes, it gets even harder to know who to look for.

Here at Broadgate, we have a wealth of experience in recruiting fintech talent from all over the world, and we have the means, the passion and the deep industry-knowledge to do it right the first time.

Whether you’re looking to build out a new software development team from the ground up, or you’re hoping to fill executive-level finance systems jobs, our highly specialised fintech recruiters can deliver you a recruitment solution you can depend on.

Often, reaching out to a third-party recruitment agency is the best way to access the entirety of the talent pool, and a time when talent seems scarce, it could be the best way to move forward.

If you have any questions about our services, our diversity-led methodology, our global talent network or the world of fintech recruitment, please don’t hesitate to reach out to the team today, we’re here to make a positive impact.