FinTech is an actively developing industry, a powerful driver of technological progress, which increases its influence every year. Institutions spend several hundred thousand dollars, if not millions, on technological transformation every year. Banks and FinTech companies are looking for talented IT professionals to develop technology platforms. Therefore, today we will tell you what you need to know to delve into FinTech, and where to get the necessary knowledge.
What skills does a developer need?
IT specialists who want to embrace FinTech software development need an understanding of the principles of distributed systems architecture, mathematical models, and processes that are used for risk analysis. Also, the programmer must know the principles of automation and monitoring, testing methodology.
Moreover, the developer must be familiar with refactoring, a technique for improving program code. An IT specialist will be also involved in the development of automated tests and documentation of code, as well as data structures compilation.
What knowledge do the companies require?
Google representatives shared the requirements for programmers who want to work in FinTech.
- Second, the developer must be able to test the code: know how to test and debug programs.
- Third, the programmer needs to understand algorithms and data structures.
An experienced Back-end developer should know Java EE, Oracle DB, Spring, Hibernate, JMS, MQ, ESB. Moreover, the work with one of the application servers – WebSphere, Weblogic, JBoss, Tomcat – is a must.
Front-end developers need knowledge of design patterns, TypeScript, ES6, HTML, CSS, SCSS, BEM, as well as understand the HTTP protocol, SOAP principles, REST, Git-flow, Babel, Webpack. Moreover, it’s necessary to have work experience with React.JS, Redux frameworks, React-router, Lodash, Moment libraries, Unit tests, and UI component libraries.
Mobile application developers have other requirements: they must know iOS SDK, Xcode, Objective-C, Swift or Java Core, Android SDK, RxJava, and be able to work with the Git version control system.
Best tips on how an IT specialist can survive in the FinTech market
#1. Improve your soft skills
FinTech companies are looking for employees who can work in harmony with the whole team – to joke with the developer, to think over the approach to clients with the sales manager, and to answer the strangest questions from colleagues.
According to the latest Stack Overflow survey, most IT professionals believe that communication skills are more important than other personal qualities that should be assessed when hiring.
#2. Get used to working with Agile
It’s time to explore Agile methodology. Everyone is talking about Agile now – this kind of methodology, the way of organizing the work of teams, especially technical ones, works really well. This is a horizontal hierarchy, sprints and quick product changes without wasting time, and work in the mode of constant discussion and feedback.
#3. Develop in related areas to be ready for challenges
Get ready for future career challenges and master not one, but two specialties professionally. If your job is more about logic, analytics and facts right now, pay attention to specialties and skills that use the right brain hemisphere: creativity, imagination, and visualization. In general, don’t get confined to one product, language, or even one area of activity.
As we have already said, the development of modern complex FinTech systems requires knowledge in several areas. Moreover, it’s important for novice developers to keep track of trends and successful implementations. Now there are many educational events: seminars and webinars, meetups, and hackathons, where talented teams share their experience. Such events will give you the right vector of development. Good luck!