Typical Tech Stack in Modern Finance 2024
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The FinTech movement remains an important change agent within the traditionally conservative world of finance.

As a result, the Cloud, AI, and data analytics become important competitive differentiators, identifying the early adopters in finance. Organizations slow to adapt to these changes get left behind, becoming victims instead of beneficiaries of this digital transformation.  Check out this high-level overview of the typical tech stack found at modern financial institutions. Tech professionals especially benefit from knowing the skills and experience attractive to FinTech hiring managers. Also, use this information to position your financial organization to fully leverage the digital transformation in finance.

How Can You Analyze a Tech Stack Used in Modern Finance?

An ERP Application Suite

Many financial institutions leverage an enterprise resource planning (ERP) system for a variety of use cases, especially related to accounting. It also provides support for their supply chain operations and project management, if relevant. An ERP suite’s centralized data repository remains critical, providing leadership visibility into a financial institution’s operations. The best ERP applications also seamlessly scale as the organization grows over time.

A FP&A Solution is Crucial

Not surprisingly, finance companies benefit from using a financial planning and analysis (FP&A) application. This tool remains a critical piece for any growing FinTech business for budgeting, forecasting, and more. In fact, many FP&A tools easily integrate with the company’s ERP solution. So, keep this in mind when vetting potential ERP and FP&A applications for your organization.

A HCM Application Remains Important

Medium to large financial organizations also benefit from using a human capital management (HCM) solution. These applications handle many tasks for the institution’s HR team, including payroll management and workforce planning. Once again, find an application that easily integrates with other pieces of your tech stack, especially the ERP suite.

Other Critical Pieces of a Financial Company’s Tech Stack

Exploring the use of a Cloud-based FinOps system makes sense for most forward-looking financial companies. A Cloud architecture especially helps organizations wanting to leverage the promise of blockchain and distributed ledger technology. A SaaS optimization tool also becomes critical at this level of Cloud usage.

Finally, any financial institution needs to adopt a robust information security footprint. As a result, a robust cybersecurity solution remains a critical piece of their tech stack. Considering the strong demand for experienced SecOps engineers, adopt a proactive approach to find skilled talent in this area. Partnering with an experienced IT talent acquisition provider also makes perfect sense!

Need to Hire?

Both IT professionals and FinTech hiring managers benefit from working with the experienced team at The CERES Group. As one of the top technical staffing agencies in New England, our deep understanding of the financial industry definitely helps matching talent with employer. Schedule some time with us to discuss how we can help!

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