The merging of the worlds of finance and technology continues to disrupt the asset management industry. This creates new opportunities for forward-looking companies (and IT professionals) to build forward-thinking teams that can capture the space.
Asset Management firms are working quickly to staff IT professionals for solution teams that close any current tech gaps and catch up to the market. Artificial intelligence is especially becoming a gamechanger; affecting everything from customer service to stock trading.
Let’s train our eyes on the massive changes currently transforming the FinTech industry. An understanding of these myriad technological innovations plays an essential role in forging a rewarding career in this niche of the IT world.
Wealth Managers Struggling with the FinTech Transformation
A recent study of wealth managers reveals the technical challenges many are facing within the financial industry. According to Thompson Reuters, over two-thirds of those surveyed think keeping up with the rapid technology changes in finance is their biggest challenge. A similar percentage feels the same way about their continued relevance to the younger traders just beginning to invest.
At the same time, nearly three-quarters of these surveyed financial pros see the burgeoning influence of artificial intelligence as an opportunity. Notably, around one-quarter of the respondents feel their organization’s mobile platform is insufficient. And they understand their customers want this modern functionality.
These simple survey results elegantly reveal the current disruption taking place in FinTech. AI and mobile remain game-changers forcing a conservative business sector into a massive transformation. David Akellian, managing director and global head of Wealth Management at Thomson Reuters, commented on these changes.
“There is no doubt that wealth management firms and their advisors are now at a turning point, and have a great opportunity to reinvent themselves in order to both deliver an exceptional digital experience for the digital natives as well as to define a new generation of high touch services. The industry challenge and the opportunity, is helping ensure that wealth firms and their advisors are better equipped with the AI, advanced analytics, insight and technology necessary to meet their clients rapidly evolving investment and service needs,” said Akellian.
An Opportunity for Experienced IT Pros
Technology professionals considering a career shift to join a financial company need to understand these firms need an influx of the right technical talent. In short, the market is robust for interested candidates. Any experience in machine learning, artificial intelligence, and mobile app development need to be highlighted on your résumé and cover letter.
Looking for IT talent?
If you are looking for a change in your technology career, speak with the knowledgeable recruiters at The CERES Group. As one of the top technical staffing agencies in Boston, we know the financial clients looking for experienced professionals like you. Connect with us soon!