Sydney Fintech Market Update
At Tier One People, we get to work with some amazing startups in FinTech and InsurTech. 2018 has got off to a flier, so here is the first Tier One People FinTech jobs update of 2018.
There is an air of optimism that FinTechs are finally in a position to challenge banks, not just partner with them. Scott Morrison recently announced plans to legislate open banking, essentially customers will own their data and have far greater control. Great news for consumers and for FinTechs.
And with the NPP (New Payments Platform) set to go live any day now, the landscape is set for more competition to enter the Australian Financial Services sector.
Not surprisingly, there are some stealthy plays happening to take advantage of open banking and our sources have highlighted several emerging players launching this year. You may have heard of Xinja, who last month, had the honour of becoming Australia’s first crowdfunded equity raise.
The raising for Xinja (a purely digital bank or neobank) was carried out by Equitise. AUS$500,000 was raised in one day (over $1m raised so far) and everyday Australians (like me) have been given the opportunity to be an early stage investor in what promises to be a super exciting venture.
Where is all of the talent?
Last month I had meetings with CEOs, CROs, CMOs, CTOs, CFOs, COOs and HRDs. Each of them described similar people challenges – namely, hiring people who can get results in a VUCA environment with limited resources. Only CTOs mentioned technical skills as their biggest business challenge (even then they can outsource). As one CEO put it, ‘I need people who are prepared to work seven days and can get sh!t done.’
It is clear that the education system and corporate structures are failing to prepare people for the new demands of the startup/high growth business model. If you are serious about a career in Fintech, then you need to master the art of ‘getting sh!t done’. Despite what you read in the press, startups are not all about free yoga, beanbags and as much alcohol as you can drink.
The People in Demand.
Tier One People have partnered with Australian FinTech Jobs, Australia’s only job board dedicated to FinTech positions. Thanks to Cameron Dart, CEO we bring a comprehensive view on hiring in the Aussie FinTech ecosystem.The roles below show that jobs on AustralianFinTechJobs.com.au are not just ‘finance’ or ‘tech’ roles. In the past month alone, everything from Personal Assistants to CFO’s and Board Appointments have been listed on the site, and everyone else in between.In terms of number of roles advertised here are the top ranking positions:
1. Developers
2. Financial Analysts
3. Sales & Marketing
4. C-suite
5. Business Development Managers
6. Project Managers
Since AustralianFinTechJobs.com.au launched in August 2017 there has been a broad range of FinTech companies advertise on the site. The list includes start-ups that haven’t even launched yet, start-ups that have launched, ASX-listed companies, companies expanding internationally and overseas-based fintechs expanding in Australia. Those companies appearing to be most active hirers include;
– IRESS
– Avoka
– Xinja
– zipMoney
– GreySpark
To read more about the Sydney Fintech Market, please click on the link below…
Source: Sydney Fintech Market Update – Tier One People
