How to Get Into Fintech: 7 Crucial Insights from Industry Experts

The fintech industry is experiencing explosive growth, driven by the convergence of finance and technology. The fintech sector is projected to grow sixfold and reach $1.5 trillion in annual revenue by 2030, constituting almost 25% of all banking valuations worldwide, according to the Boston Consulting Group.

As traditional financial systems evolve, the demand for professionals with expertise in fintech has skyrocketed. According to the 2024 Course Trends report by findcourses.com, interest in cutting-edge fintech skills like blockchain has seen a staggering 179% rise, indicating its potential to revolutionize financial transactions and reshape the financial landscape.

For those looking to enter this dynamic field, understanding the key insights from industry experts can provide a crucial roadmap to success.

What is Fintech?

First though, let’s look at what fintech is. Fintech, short for financial technology, is a broad and evolving term that encompasses a wide range of innovations aimed at enhancing and automating financial services. At its core, fintech merges technology with financial services to improve the efficiency, accessibility, and convenience of transactions, investments, and money management.

However, defining fintech isn't straightforward, as it covers a vast spectrum of applications, from mobile banking and digital payments to blockchain, robo-advisors, and peer-to-peer lending platforms.

While researching for this article, I paused to think about what fintech really means today and realized how much it's part of our daily lives. A quick look at my phone showed just how common fintech has become. Whether it’s using a digital wallet to make a quick payment, transferring money through a mobile payment system, or managing bank accounts and credit cards through dedicated apps, fintech is everywhere. 

It’s not just the domain of tech enthusiasts or finance professionals; it’s part of the everyday experiences of millions of people worldwide.

Here are some figures to illustrate fintech's profound impact on daily banking: For the fourth year in a row, U.S. consumers are conducting their banking via mobile apps more often than any other method. According to a recent survey by Morning Consult for the American Bankers Association, 48% of bank customers use apps on phones or other mobile devices as their top option for managing their bank accounts. This trend underlines the widespread adoption of fintech solutions.

This ubiquity of fintech goes hand-in-hand with its broad and diverse nature. Fintech is not limited to just one type of technology or service—it’s an entire ecosystem that continues to expand and innovate, touching nearly every aspect of financial life. Whether you're investing, borrowing, saving, or simply making a purchase, fintech is likely involved in making that process faster, easier, and more secure.

What makes fintech particularly exciting is its capacity to disrupt traditional financial systems, making financial services more inclusive and accessible to a broader population. Whether it’s through peer-to-peer lending platforms that bypass traditional banks, robo-advisors that offer automated investment advice, or digital wallets that enable seamless online payments, fintech is redefining how we interact with money.

Given its wide-ranging definition, the fintech sector offers numerous entry points for professionals with diverse skill sets—from software development and data analysis to financial analysis and regulatory expertise. As the industry continues to evolve, staying informed and adaptable will be key to thriving in this fast-paced environment.

7 Expert Insights on How to Get Into Fintech

To help you navigate the dynamic field of fintech, we’ve gathered top insights from industry experts who have successfully established their careers in fintech. Whether you're a recent graduate, a career changer, or an aspiring fintech entrepreneur, their advice offers valuable guidance on how to get into - and thrive - in fintech.

1. Build a Strong Foundation in Finance and Technology

Success in fintech requires a solid understanding of both finance and technology. Michael Schmied is a Senior Financial Analyst at Kredite Schweiz with over a decade of experience in fintech, specializing in market analysis and financial technology solutions. He emphasizes the importance of specialized education in this field.

“Enrolling in fintech certification programs like the Certified FinTech Professional (CFP) or Chartered FinTech Professional (CFtP) can give you a comprehensive foundation in areas like blockchain, digital payments, and financial regulations,” Schmied advises.

The demand for these skills is on the rise, reflecting the growing need of technological skills in finance. For example, findcourses.com found that course interest in blockchain has surged by 179%, demonstrating its potential to revolutionize financial transactions.

Similarly, artificial intelligence courses have seen a dramatic 550% increase in interest, underscoring the technology's transformative impact across industries. Additionally, interest in data analysis courses has grown by 57%, emphasizing the critical role of data in driving financial decision-making and innovation.

Ian Jennings, founder of Harbour View Mortgages, and a Qualified Financial Advisor (QFA) as well as a CFA Charterholder, reinforces this by highlighting the need for a dual focus on finance and technology. He transitioned from traditional finance to fintech, where he focuses on integrating technology into mortgage processes and advises on continuous learning and regulatory awareness.

"A solid understanding of both finance and technology is crucial. Pursue relevant courses in financial analysis, coding, and data analytics,” Jennings suggests. A well-rounded educational background ensures you are prepared for the diverse challenges of fintech.

2. Gain Practical Experience

Hands-on experience is vital for anyone looking to break into fintech. Internships, entry-level positions, and real-world projects provide the practical knowledge necessary to thrive in this industry.

Diogo Silva, founder and CEO of WhatNeoBank, a platform aimed at simplifying neo-banking choices, expounds on the importance of gaining experience by working on projects that involve financial technologies. “Working on a project that involves integrating a new payment gateway or analyzing transaction data can provide insights into the practical challenges and opportunities within fintech. Such experiences not only enhance technical skills but also offer a firsthand understanding of industry operations and customer needs,” Silva shares. 

Jennings of Harbour View Mortgages agrees with the significance of practical experience. “Experience with digital payment systems, blockchain, or cybersecurity can be particularly valuable. Practical knowledge helps bridge the gap between academic learning and real-world applications,” Jennings notes.

The demand for practical experience is underscored by the rapid growth of the fintech sector. According to Statista, the number of fintech companies worldwide has surged from just over 12,000 in 2019 to approximately 30,000 in 2024. This dramatic increase highlights the expanding opportunities for gaining hands-on experience as well as the growing need for professionals who can navigate and contribute to this evolving industry.

3. Participate in Fintech Hackathons

For those who are more technically minded, hackathons are an excellent way to demonstrate your problem-solving skills and innovative thinking. Schmied of Kredite Schweiz recommends participating in fintech hackathons such as the MIT FinTech Conference Hackathon.

“These hackathons allow you to collaborate with peers, tackle real-world financial challenges, and attract the attention of potential employers. Engaging in these competitions demonstrates your practical skills and passion for the fintech industry,” Schmied explains.

Further, hackathons help you build a network of professionals in the field. Working alongside others in these competitive settings can lead to valuable connections and future opportunities in fintech. Additionally, hackathons provide a unique opportunity to work on practical problems, gain hands-on experience with emerging technologies, and develop solutions in a high-pressure environment. Hackathons often simulate real-world challenges, allowing you to test your abilities and learn new techniques in a collaborative setting.

4. Network Strategically

Networking is a key component of breaking into the fintech industry. Building relationships with professionals in the field can open doors to new opportunities and provide mentorship.

Shawn Plummer, CEO of The Annuity Expert, leverages his background in finance and technology to offer innovative services in fintech, and he attributes much of his success to strategic networking. “Networking is your secret weapon. Attend industry events, join fintech groups, and engage with professionals on platforms like LinkedIn," Plummer advises. "My career took off after connecting with key industry figures who provided mentorship and opened doors.”

Staying current with technological trends like AI and blockchain through these connections can offer critical insights into market needs and help align your career strategies with industry trends.

Daniel Jorge, Head of Data & FinTech Software/SaaS Sales Recruitment at EC1 Partners, successfully transitioned from healthcare to fintech, and emphasizes the benefits of networking in career development. “Identify key individuals and organisations in the industry and seek introductions through your existing network,” Jorge suggests. "When I transitioned, I utilised a specialist recruiter to help me navigate the new industry and connect with potential employers. Additionally, reaching out to friends in technology helped me get valuable insights and introductions."

According to a LinkedIn survey, nearly 80% of professionals consider networking essential for career success. Despite this, 38% of professionals find it challenging to stay in touch with their network, often due to time constraints (49%).

On a positive note, 35% have found new opportunities through casual conversations on LinkedIn Messaging, and 61% believe that regular online interaction can lead to job opportunities.

Networking not only opens doors but also helps you tap into valuable resources and advice. Engaging with your professional network can lead to new business deals, partnerships, and job opportunities, making it a crucial aspect of career development.

For more tips on enhancing your LinkedIn profile, check out our article on How to Showcase Your Professional Development on LinkedIn.

5. Stay Adaptable and Continuously Learn 

The fintech landscape is constantly evolving, making adaptability and continuous learning essential. Keeping up with financial trends such as blockchain advancements, AI innovations, and the latest in cloud computing is critical to maintaining a competitive edge. 

A recent survey by digital finance transformation leader BlackLine, Inc. reveals that 80% of C-suite and finance professionals identify cloud computing as critical for business resiliency, with 78% seeing generative AI as key to navigating future disruptions. However, a significant skills gap remains, with 62% of organizations acknowledging they lack the deep technical knowledge needed to implement these technologies effectively. Professionals interested in advancing their knowledge in areas like blockchain can benefit from targeted courses and certifications.

Plummer of The Annuity Expert echoes this sentiment, recommending that professionals experiment with side projects and embrace new technologies. “The fintech landscape is fast-evolving. Therefore, experiment with side projects, learn new technologies, and stay updated on trends like blockchain, AI, and mobile banking. When I integrated AI tools into my business, it not only improved efficiency but also gave me a competitive edge by offering innovative services that attracted more clients,” Plummer shares. By staying adaptable and continuously learning, you position yourself to thrive in the fast-paced world of fintech.

6. Identify and Leverage Your Transferable Skills

If you’re transitioning into fintech from another industry, identifying and leveraging your transferable skills can give you a head start. Whether you come from software engineering, sales, or another sector, your existing skills can often be adapted to meet the needs of the fintech industry.

Jorge of EC1 Partners shares his experience transitioning from healthcare to fintech, where he capitalized on his sales and recruitment experience. “Despite the differences between healthcare and fintech, the core skills of building relationships, understanding client needs, and closing deals were directly applicable,” Jorge explains.

Understanding how your current expertise can be applied to fintech roles not only makes the transition smoother but also allows you to contribute value from the outset. For instance, if you have a background in software engineering, your skills in coding and systems architecture are directly transferable to developing fintech applications, such as mobile payment platforms or blockchain technology.

Similarly, if your experience lies in sales or marketing, your ability to understand customer needs and craft effective strategies can be crucial in promoting fintech products and driving user adoption.

By identifying the parallels between your previous work and the demands of fintech, you can more easily adapt to the industry's unique challenges and start making meaningful contributions right away. This approach not only shortens the learning curve but also positions you as a valuable team member who brings a fresh perspective, combining your prior knowledge with new fintech insights.

Ultimately, leveraging your existing skills helps you hit the ground running, providing immediate value to your employer and accelerating your career growth in the fintech sector.

7. Develop a Niche Expertise

Focusing on a niche within fintech can set you apart from others entering the field. By honing your skills in a particular area, you can differentiate yourself in a crowded job market and attract opportunities that align with your expertise.

The advantages of niche specialization are highlighted by the rapid growth of certain technologies within fintech. For instance, according to Fortune Business Insights, the global blockchain technology market size was valued at USD 17.57 billion in 2023 and is projected to grow exponentially, reaching USD 825.93 billion by 2032, with a compound annual growth rate (CAGR) of 52.8% from 2024 to 2032.

Building a niche expertise can also lead to opportunities in consulting, speaking engagements, and other avenues where specialized knowledge is in high demand. As the fintech landscape continues to evolve, those with deep expertise in high-growth areas like blockchain will find themselves in a strong position to capitalize on the expanding market opportunities.

Final Takeaways: Prepare for a Thriving Career in Fintech

The fintech industry is on an unprecedented growth trajectory, projected to reach $1.5 trillion in annual revenue by 2030. This surge reflects a transformative shift in how financial services are delivered, driven by technological advancements and changing consumer expectations. With fintech solutions now integral to daily financial activities—be it mobile payments, digital wallets, or blockchain innovations—there's no denying that this sector is reshaping the global financial landscape.

For professionals aiming to break into this vibrant field, aligning with the latest industry trends and insights is crucial. As highlighted by industry experts, building a robust foundation in both finance and technology, gaining hands-on experience, and strategically networking are essential steps for success.

Staying adaptable and continuously learning are equally important, given the rapid pace of technological evolution in fintech. Moreover, developing niche expertise in high-growth areas like blockchain or AI can set you apart in a competitive job market, opening doors to consulting, speaking engagements, and other specialized roles.

As you embark on your fintech career journey, remember that the industry's dynamism offers ample opportunities for those who are well-prepared and proactive. By leveraging the advice from industry leaders and staying informed about emerging technologies, you can position yourself for success in this exciting and rapidly evolving field.