FinTech On the Move: Update from The Inaugural FinTech Student Crawl
Talent in digital skills is said to be in short supply both domestically and globally.
So what can be done to inspire and engage the next generation of workers?
Last month, Innovate Finance welcomed students from Sir John Cass Foundation and Red Coat School for an inaugural FinTech Student Crawl.
To enable students to gain an insight into innovation and how they could become part of the FinTech ecosystem. Hosted in collaboration with Broadgate and Career Ready, the crawl provided an opportunity for year 9 students to take part in ‘taster sessions’ with Innovate Finance members including Cube, CurrencyCloud, Pigzbe and Neyber.
In 2018, Innovate Finance co-produced a report with WPI Economics to look at the global talent pool that supports the FinTech sector. The report highlighted the growing importance of FinTech in the UK: the sector is set to top 100,000 employees by the year 2030, which will require attracting talent into the sector.
The ever-present issue of ‘talent’ and ‘upskilling’ has plagued to FinTech space during a time of great global competition for digital skills. From our recent webinar discussion with members, solutions require a rethink of traditional training methods and collaboration with local schools and education authorities to ‘future-proof’ the UK talent pipeline. It is also important to emphasise the broad range of skill sets required to work within the financial innovation space, which goes beyond traditional STEM qualifications or traditional career ladders.
Our FinTech Student Crawl provided an opportunity for local students to look at FinTech through its many different facets. Cube showcased the complexity of changing regulatory rules through a game which required students reacting quickly to new instructions to build a lego tower. Pigzbe explored the importance of financial literacy and savings in their session. Neyber provided insights into the role employers play in ratifying solutions for financial wellbeing (Including a quickfire kahoot quiz!).
In a lunchtime session with Pinsent Masons, students discussed the inherent biases in coding and the importance of consent when looking at the importance of personal data and AI.
In return for the taster sessions from Innovate Finance members, students at Sir John Cass School were provided with the opportunity to utilise their communication skills by delivering presentations on different FinTechs during the afternoon. The message from those presentations was clear: there are room and appetite from the next generation to take a leap into financial innovation.
And we look forward to working with our members to ensure that this is possible.